New York City, NY: Jun 20, 2019 – Published via (Wired Release) – Library automation service systems are systems used to automate the library functions and process with integration of computer technologies to library functions such as cataloguing, information retrieval, circulation, serials control, reference and administration, order made, bills paid, etc. There are mainly two types of library automation systems commercial systems and open source systems.
The global library automation service market was valued at approximately US$ 1.7 Bn in 2017, and is expected to register a CAGR of 3.3%. The first five-year cumulative revenue (2017–2021) is projected to be US$ 9,310.8 Mn, which is expected to increase rather significantly over the latter part of the five-year forecast period.
According to the global library automation service systems market report, major factors driving growth of the market is rising demand for automation services and growing need for efficient database management systems. In addition, increasing adoption of information and communication technology (ICT) for automation of core functions, resource sharing, and automated cataloguing are factors further expected to drive growth of the library automation service systems market.
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Global Library Automation Service Systems Market: Forecast
The comprehensive research report comprises a complete forecast of the global library automation service systems market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global library automation service systems market is expected to expand at a significant CAGR of over 3% during the forecast period.
Global Library Automation Service Systems Market: Segmental Snapshot
By Type: The open-source systems type segment is estimated to account for highest revenue share among the type segments and is expected to register a CAGR of over 3%, owing to increasing number of individual developers and increasing availability of freemium library automation software.
By Application: The school libraries segment is projected to account for largest revenue share, whereas, the public library segment is expected to register a CAGR of over 3% during the forecast period.
By Region: Among various regions, North America is expected to be the largest library automation service systems market during the forecast period; whereas the market in Europe is expected to register the highest growth rate during the forecast period. Factors attributed for high growth in Europe are high adoption rate of library automation service systems by top universities and agencies in this region. The market in Asia Pacific is expected to register a CAGR of over 3% during the forecast period.
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Global Library Automation Service Systems Market: Competitive Analysis
Key players profiled in the global library automation service systems market report are Ex Libris Ltd., Sirsi Corporation, Innovative Interfaces Inc., Capita plc., Infor, PTFS Inc., OCLC Inc., Agent Information Software Inc., Library Automation Technologies Inc. (LAT), The Library Corporation, PrimaSoft PC Inc., Equinox Open Library Initiative, LIBSYS Ltd., Book Systems, Inc., and CR2 Technologies Limited.
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