Library Automation Service Systems Market (2017-2021) Five Year Aggregate Revenue To Be US$ 9,310.8 Mn

Automated cataloging standards such as machine readable cataloging (MARC) helps in quicker cataloging of library items. Automated library cataloguing systems leads to creation of bibliographical information in MARC standard format for most of library activities and services, which helps in creation, storage, retrieval, and management of bibliographic records and indexes. This also enables end users to search any fields, and allows fast retrieval and printing of required information and aids in eradicating time-consuming routine activities, improved the performance of operational activities, and facilitated collection of useful statistics.

In addition, it helps in easy access to journals and some books. The automation of library collections also allows the library to be more flexible, especially in case of increasing demand for popular or specific reading material. Library automation is a way of preparing the collection to become sustainable in terms of information dissemination, paired with the ever-decreasing amount of funding for libraries.

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High installation cost of library automation service systems results in increased power consumption, which raises operational and maintenance costs and need for extensive training of library professionals for library automation systems are major challenges hampering growth of the global library automation service systems market. In addition, budget constraints due to high cost of software, hardware and need for extensive training for librarians, especially for smaller libraries and universities etc. may hamper the growth of the global library automation service systems market during the forecasted years.

Global Library Automation Service Systems Market: Segmental Snapshot

The global library automation service systems market is segmented on the basis of type, application, and region. On the basis of type, the global library automation service systems market is segmented into commercial systems and open-source systems. On the basis of application, the global library automation service systems market is segmented into school libraries, public libraries, other libraries, and others. On the basis of region, the global library automation service systems market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

By Type:

On the basis of type, open source system segment is expected to contribute major revenue share in the global library automation service market and is expected to witness highest CAGR of over 3%, in terms of revenue over the forecast period, owing long-term viability and are always on the cutting-edge of technology coupled with libraries opting for open source systems.

By Application: Among all the application segments, public libraries are expected to register highest CAGR of over 3%. This is attributed to higher visitor footfall volumes to these types of libraries – public libraries offer pay-and-use services and memberships – and there are no restrictions to who may access services or sign up at these libraries. However, the school libraries are expected to dominate the global library automation service systems market in term of revenue.

By Region: North America market is expected to dominate the global library automation service market, and is expected to account for largest market revenue share as compared to that of markets in other regions. Driving factors for growth of this market is the presence of prominent library automation service systems providers in the region such as OCLC, Sirsi Corporation, and Infor, coupled with high adoption of library automation systems in various academic, and public libraries in countries in the region. However, Europe is expected to register highest CAGR of approximately 3% over the forecasted years. This is primarily attributed due to high rate of adoption of library automation service systems by major agencies and universities in recent times.

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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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