NEW YORK, Feb. 5, 2024 /PRNewswire/ — The library management software market is expected to grow by USD 390.07 million during 2022-2027, progressing at a CAGR of 3.23% during the forecast period. According to technavio, the market experienced a 1.31% YOY growth in 2023.
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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. Ltd.: The company offers library management software that organizes books, journals, and other documents in a professional order so that it becomes easier for readers.
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The cloud-based segment will grow at the highest rate during the forecast period. Given the fact that they only need a web browser and an Internet connection, cloud-based applications are more widely available and simpler to use. End users can make monthly payments instead of a large one-time investment in cloud-based library management software. These periodic expenses are mostly for software maintenance and upgrades. The growing adoption of cloud-based solutions can be attributed to the extensive use of the Internet.
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“Besides analyzing the current scenario, our report examines historic data from 2017 to 2021”- Technavio
The demand for library management software in K-12 schools propels market growth, with a focus on providing grade-level resources and integration with student management systems. Companies like Follet offer solutions such as Destiny Library Manager, aiding librarians in tasks like records management, issuing notifications, and reducing operational costs. The need for such software is expected to rise globally, driven by increased adoption in educational institutions.
The evolution of digital newspapers and magazines is the primary trend shaping market growth.
The paucity of skilled professionals is the major challenge impeding growth.
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Library management software offers comprehensive solutions for managing library operations, including cataloging, circulation, and inventory management. Integrated with features like RFID technology and patron management systems, these platforms cater to diverse library settings such as academic, public, and school libraries. Additionally, digital preservation tools and mobile apps enhance accessibility and user experience, driving efficiency and innovation in library services.
The procurement software market size is estimated to grow at a CAGR of 10.2% between 2022 and 2027. The procurement software market size is forecast to increase by USD 4,903.04 million.
The Global Event Management Software Market size is estimated to grow by USD 2,425.09 million between 2022 and 2027 accelerating at a CAGR of 7.76% during the forecast period.
What are the key data covered in this library management software market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the library management software market between 2022 and 2027.
- Precise estimation of the library management software market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the library management software industry across North America, Europe, Asia, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of library management software market companies.
Five Forces Analysis
Segmentation by Deployment
Segmentation by End-user
Drivers, Challenges, & Trends
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