Enjoy complimentary customisation on priority with our Enterprise License!
The library management software market is estimated to grow at a CAGR of 3.23% between 2022 and 2027. The size of the market is forecast to increase by USD 390.07 million. The growth of the market depends on several factors, including a rise in demand for library management software from APAC, the growing need for library management software in K-12 schools, and the increase in technological advancements and M&A in the library services and automation market.
This report extensively covers market segmentation by deployment (cloud-based and on-premises), end-user (school library, public library, academic library, and others), and geography (North America, APAC, Europe, the Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, Download Report Sample
The reports categorize the global library management software market as a part of the global application software market. The parent global IT software market covers companies that are engaged in developing and producing application and system software. It also includes companies offering database management software. Our research report has extensively covered the external factors influencing the parent market growth during the forecast period.
The growing need for library management software in K-12 schools is notably driving the library management software market growth, although factors such as the paucity of skilled professionals may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Library Management Software Market Driver
The growing need for library management software in K-12 schools is notably driving the library management software market growth. Libraries in K-12 schools usually have small collections of select materials. Providing grade-level resources and integrating with the district student management system are the major features provided by the library management software for K-12 schools. For instance, Follet is an Illinois-based company that provides books and study materials for schools. The company has developed a library management system for schools known as Destiny Library Manager. Many K-12 schools and districts use this software for managing their library resources. The demand for such software is expected to increase worldwide during the forecast period.
School ERP software plays a vital role in helping librarians manage their tasks. It helps them maintain the data on the books that are issued to students and those that are available in the library. It aids in records management in terms of the date of issue, return date, complete book catalogues, and calculation of fines (for lost books or late returns). Students also benefit from the software through notifications about book fairs and other events organized by libraries while also being able to track the status of their books. These features help in reducing the cost of library management.
Key Library Management Software Market Trend
The evolution of digital newspapers and magazines is the primary trend driving the library management software market growth. Several private and public libraries have started providing digital newspapers and magazine content, along with popular books and research papers.
For instance, the San Francisco Public Library is one of the earliest adopters of the e-news center at its key branch, and it has expanded the center to the North Beach and Chinatown areas of the city. This enables users to read newspapers and digital magazines on their Apple iPad. This development (digitalization) requires a high level of automation to manage large volumes of digital content at libraries so that the same content can be accessed at the same time by several users. Such advances will positively influence the growth of the market during the forecast period.
Key Library Management Software Market Challenge
The paucity of skilled professionals is the major challenge impeding the library management software market growth. Librarians are often not well-versed in library automation processes or database management systems. This challenge is more prevalent in underdeveloped countries and emerging economies. Proper training and knowledge about computing and cloud computing are essential to resolve these issues. Such concerns do not have a significant impact in developed regions like the US, Canada, Germany, France, and the UK.
Employees with no skills in cloud computing and library automation systems find it difficult to operate the library management software. Library employees in developing countries face limitations with regard to financial resources and try to develop in-house library management software that is based on open-source tools. The lack of knowledge about the library automation process often leads to a communication gap between programmers and librarians. In most cases, the final output will not be the exact output that is expected by librarians and other library employees. This will adversely impact market growth.
Key Library Management Software Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Library Management Software Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Soutron Global Inc. - Under its library management software segment, the company offers web-based library management software, which offers self-service functionalities and encourages collaborations and the capture of feedback and comments. Additionally, the company offers products for library management, archive management, and records management for corporate and government organizations, membership organizations, and healthcare industries.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
A qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the cloud-based segment will be significant during the forecast period. Cloud-based applications are more accessible and easier to use as they only require a web browser and an Internet connection. End-users can make regular payments instead of a huge one-time investment for cloud-based library management software. These periodic expenses are primarily for maintenance and upgrades of the software. The growing adoption of cloud-based solutions can be attributed to the extensive use of the Internet. The advantages of cloud-based services include scalability, reduced costs, and easy upgrades compared with traditional on-premises procedures.
Get a glance at the market contribution of various segments Request a PDF Sample
The cloud-based segment showed a gradual increase in market share with USD 1637.72 million in 2017 and will continue to grow by 2021. End-users opt for cloud-based library management software mainly due to the frequent updates and shorter implementation time associated with this deployment type. Cloud-based library management software also provides instant real-time information from all business units of a company across the world.
For more insights on the market share of various regions Request PDF Sample now!
North America is projected to contribute 35% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in North America is expected to grow during the forecast period as countries such as the US and Canada are among the most technologically advanced countries and pioneers in the adoption of library management platforms globally. With the US being one of the global leaders in digital technology, the country records a high penetration of Internet-enabled digital devices. The education system in the US follows an example-oriented learning approach, with the high adoption of digital content courses as a supplement to primary learning in educational institutions. Such an approach is expected to enhance the demand for library management software during the forecast period.
The outbreak of COVID-19 in 2020 significantly impacted several institutions, including schools and universities in North America. However, the pandemic had a lower impact on the regional market, as the spread of the disease and related lockdowns resulted in most educational institutions adopting the distance education model. This led to the rising adoption of online education and not only enhanced the use of cloud-based services, but also accelerated digital transformation and created a stronger demand for library management software. Such factors will drive the growth of the market in North America during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by deployment, end-user, and region.
|
Library Management Software Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
160 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 3.23% |
|
Market growth 2023-2027 |
USD 390.07 million |
|
Market structure |
Fragmented |
|
YoY growth (%) |
1.31 |
|
Regional analysis |
North America, APAC, Europe, the Middle East and Africa, and South America |
|
Performing market contribution |
North America at 35% |
|
Key countries |
US, Canada, China, UK, and Russia |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
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 dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
