NEW
YORK, June 19, 2024 /PRNewswire/ -- The
global library management software market size is
estimated to grow by USD 682.8 mn
from 2024-2028, according to Technavio. The market is estimated to
grow at a CAGR of 5.35% during the forecast period.
Rise in demand for library management software from APAC is
driving market growth, with a trend towards increase in
the use of open-source library management software.
However, growing concerns about data security poses a
challenge. Key market players include 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.
Get a detailed analysis on regions, market
segments, customer landscape, and companies- View the snapshot
of this report
Library Management
Software Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
5.35%
|
Market growth
2024-2028
|
USD 682.8
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
2.64
|
Regional
analysis
|
North America, APAC,
Europe, Middle East and Africa, and South America
|
Performing market
contribution
|
North America at
35%
|
Key
countries
|
US, UK, China, Russia,
and Canada
|
Key companies
profiled
|
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
|
Market Driver
Open-source library management software is a growing trend in
the global library market. Notable companies, such as Ex Libris and
EBSCO, support this movement by providing open-source discovery
interfaces like VuFind and Blacklight, and launching projects like
FOLIO. Kuali Foundation and Open Library Environment (OLE)
collaborate to build open-source library management programs, with
OLE offering SaaS solutions to academic and research libraries
including Duke University Libraries,
North Carolina State University
Libraries, Lehigh Libraries, Cornell
University Library, SOAS University of London's SOAS Library, and Texas A&M University Libraries.
The Library Management Software market is experiencing
significant growth with an increasing number of educational
institutions and organizations adopting digital solutions for
managing their library resources. Automation of library processes,
device compatibility, and user-friendly interfaces are key trends
driving the market. Features such as digital catalogs, online
reservation systems, and automated check-out and return processes
are becoming essential for libraries to meet the demands of their
users. Additionally, cloud-based solutions and integrations with
other educational software are gaining popularity. The market is
expected to continue growing as libraries seek to provide efficient
and convenient services to their patrons.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
• Library
management software market faces a significant challenge in
ensuring data security, particularly for cloud-based solutions.
End-users demand that vendors adhere to certified security
standards, such as ISO/IEC 27001 for managing information security
assets, and SAS 70/SSAE 16 for examining service organization
controls. While these certifications offer protection for data
stored in certified data centers, they do not guarantee data
encryption during Internet transmission.
• The library
management software market faces several challenges in implementing
and integrating advanced technologies. Digitization and automation
are key areas of focus, requiring significant investment in
infrastructure and training. Transformation of processes and
workflows can be complex, especially for smaller institutions with
limited resources. Integration of various systems and applications,
such as chatbots and analytics, can also pose challenges.
Additionally, ensuring data security and privacy is a major
concern. Procurement of licenses and upgrades, as well as ongoing
maintenance and support, add to the financial burden. Overall, the
library management software market requires a strategic approach to
address these challenges and maximize the benefits of
technology.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This library management software market report extensively
covers market segmentation by
- Deployment
- 1.1 Cloud-based
- 1.2 On-premises
- End-user
- 2.1 School library
- 2.2 Public library
- 2.3 Academic library
- 2.4 Others
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Cloud-based- Library Management Software
(LMS) is a business solution that helps institutions manage their
books and other resources efficiently. It streamlines borrowing and
returning processes, automates overdue notices, and offers
real-time inventory tracking. LMS enhances operational efficiency,
reduces manual work, and improves user experience. It caters to
various library types, including academic, public, and special
libraries. By implementing LMS, organizations can save time,
minimize errors, and better serve their patrons.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Library Management Software (LMS) market encompasses
solutions that automate various library operations, including
cataloging, inventory management, patron management, and digital
collections. These platforms often incorporate AI-powered features,
such as predictive analytics and seamless navigation, to enhance
user experiences. With the shift towards remote engagement and
digital transformation, cloud-based LMS have gained popularity.
However, budget limitations and allocation challenges pose
challenges for smaller libraries, leading to the exploration of
opensource alternatives and cheaper solutions. Software upgrades,
customization, research and development, and licensing are
essential considerations in the LMS market. Despite these
challenges, the market continues to evolve, with a focus on data
security, smart devices, and virtual interactions.
Market Research Overview
The Library Management Software market encompasses solutions
designed to automate and manage various library operations. These
solutions facilitate the borrowing and returning of books,
management of catalogs, and maintenance of member information. They
offer features such as online catalogs, automated renewals, and
overdue notices. Additionally, they provide tools for managing
inventory, generating reports, and implementing security measures.
The software caters to libraries of all sizes, from small community
libraries to large academic institutions. It enhances efficiency,
reduces manual labor, and improves the overall library experience
for users.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Deployment
-
- End-user
-
- School Library
- Public Library
- Academic Library
- Others
- Geography
-
- North America
- APAC
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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