Technavio’s market study identifies the benefits such as the high resource sharing capability to be one of the primary growth factors for the LMS for education market. Library management system (LMS) enables enhanced and convenient sharing of resources among readers. Students and other patrons can access the main data repositories at their convenience. Additionally, this also helps library management save costs since a single electronic copy of the book can be easily shared across groups. According to our market research analysts, this market will grow steadily at a CAGR of more than 3% by 2021.
Libraries are increasingly adopting library operations analytics to obtain insights and optimize the effectiveness of the library. Library management carries out several functions such as activity recordings and monitoring of library processes, borrowings, user credentials, cataloging, and fulfillment to improve their decision-making process. The changing needs and preferences of the consumers must be tracked and catered to effectively manage their daily tasks, maintain relationships with users, and to improve their decision-making approach. This will increase the adoption of library intelligence and analytics, which according to our industry research analysts will be one of the major LMS for education market trends that will gain traction in this market.
Competitive landscape and key vendors
The LMS for education market is highly fragmented due to the presence of several international and regional players offering technologically advanced solutions and catering to the changing needs and preference of the patrons. Library automation vendors attain a competitive advantage by offering cloud-based platforms that render the software available and accessible to all educational libraries across the globe. The intense competition among the vendors in this market results in an increase in M&A activities.
The leading vendors in the market are -
The other prominent vendors in the market are Innovative Interfaces, Lucidea, LibraryWorld, Insight Informatics, MicroLib, and Creatrix Campus.
Segmentation by end user and analysis of the LMS for education market
School libraries catering to K-12 base of students primarily implement the library automation system software due to an upsurge in sources of content, new enrollments, and the need for reducing student dropout ratios. LMS provides a centralized technology platform with the help of a single-server installation that provides 24/7 library access from any geography and saves time and cost of the library management.
Segmentation by deployment and analysis of the LMS for education market
The LMS software and hosting server are placed on site and the location where the application servers are housed must fulfill various responsibilities such as server management, maintenance, system upgrades, and other requirements of necessary hardware supporting devices. The on-premise deployment of library software enables the use of a strong bandwidth at a reasonable price and in turn, increases the LMS for education market size.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global LMS for education market?
What are the key market trends impacting the growth of the global LMS for education market?
What are the challenges to market growth?
Who are the key vendors in the global LMS for education market?
What are the market opportunities and threats faced by the vendors in the global LMS for education market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global LMS for education market?
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