NEW YORK, February 26, 2024 /PRNewswire/ — The library management software market is expected to grow by 390.07 million dollars during 2022-2027, advancing at a CAGR of 3.23% during the forecast period. According to technavio, the market will grow by 1.31% annually in 2023. Read the PDF sample report
Technavio has published its latest market research report titled Global Library Management Software Market 2023-2027.
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Report coverage |
details |
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Page number |
160 |
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Base year |
in 2022 |
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Historical period |
2017-2021 |
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Estimated period |
2023-2027 |
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Growth momentum and CAGR |
Accelerating at a CAGR of 3.23% |
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Market growth 2023-2027 |
390.07 million dollars |
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Market structure |
Fragmented |
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Year-on-year growth (%) |
1.31 |
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Regional analysis |
North America, APAC, Europe, Middle East and Africa and South America |
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Market contribution to performance |
North America at 35% |
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Key countries |
USA, Canada, China, Great Britain and Russia |
AmpleTrails, Awapal Solutions Pvt. Ltd., Axiell Group, Civica UK Ltd., Clarivate PLC, CodeAchi Technologies Pvt. Ltd., CR2 Technologies Ltd., Gayatri Software Services Pvt. Ltd., ICV Partners LLC, Insignia Software, Libero Systems Pty Ltd., Library Resource Management Systems Inc., LibraryWorld Inc., Mastersoft ERP Solutions Pvt. ltd., Media Flex Inc., PowerSchool Holdings Inc., PrimaSoft PC Inc., Progressive Technology Federal Systems Inc., Soutron Global Inc. and Tech Receptives.
- Awapal Solutions Pvt. doo: The company offers library management software that organizes books, journals and other documents in a professional order to make it easier for readers to access the many company profiles available with Technavio, buy a report!
The cloud-based segment will grow at the highest rate during the forecast period. Due to the fact that they only require a web browser and an Internet connection, cloud-based applications are more widely available and easier to use. End users can pay monthly instead of making a large one-time investment in cloud library management software. These recurring costs are mainly for software maintenance and upgrades. The increasing adoption of cloud-based solutions can be attributed to the widespread use of the Internet. Learn more about each segment’s contribution summarized in concise infographics and detailed descriptions. See a sample PDF report
Demand for library management software in K-12 schools is driving market growth, with a focus on classroom-level resource provision and integration with student management systems. Companies like Follet offer solutions like Destiny Library Manager, which help librarians with tasks like records management, issuing notices and reducing operational costs. The need for such software is expected to grow globally, driven by increasing adoption in educational institutions.
Analyst review
The market is experiencing significant growth, fueled by increasing demand for automation of library functions. Both universities and non-academic institutions are investing in library management solutions to streamline subject ordering, patron management and book inventory. With the rise of mobile access, data security has become paramount, driving the adoption of advanced open source library management software. Existing products are evolving rapidly, with continuous product development to address complexity and improve service delivery. This market presents lucrative opportunities on a global scale, fueling market growth. Successful implementation of library management solutions depends on strong market strategies to tap into the growing global market.
The market is experiencing significant growth fueled by increasing demand for efficient application of technology in library automation. With the advent of cloud-based solutions, libraries of all sizes, including small, medium and large, can now streamline their operations efficiently. These software solutions offer barcode generation for easy cataloging, transaction management and robust database management. Especially in the academic and educational sector, such systems are gaining ground. However, there are limitations such as investment pockets required for implementation. Nevertheless, the market presents lucrative opportunities for growth. A comprehensive impact analysis, including Porter’s five forces analysis, reveals the dynamics shaping the industry, making it imperative for private libraries to adapt to on-premises or cloud-based solutions to remain competitive.
In the library management software market, the power of buyers and suppliers plays a key role in shaping competitive dynamics. Libraries are looking for quantitative analysis tools within software solutions to streamline operations and improve user experience. The market potential for such software is enormous, and libraries around the world recognize the need for effective management systems. Vendors must meet the diverse demands of libraries, emphasizing innovation and customization to maintain a competitive advantage. In addition, customers have significant influence, forcing suppliers to offer competitive prices and comprehensive features. As the demand for digital cataloging, publishing and user management grows, library management software providers must constantly adapt to meet the growing needs of the market. Download to access this information.
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TOC:
1 Executive Summary
2 Landscape
3 Sizing
4 Historical size
5 Five forces analysis
6 Segmentation
7 Customer landscape
8 Geographical landscape
9 Drivers, challenges and trends
10 The supplier landscape
11 Supplier analysis
12 Appendix
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