U.S. Library Management System Market Size Will Hit USD 918 Million By 2025

Facts and Factors Market Research has published a new report titled “U.S. Library Management System Market By Type (School Library, Academic Library, Public Library, and Others), By Solution (Integrated Library System and Digital Content Distribution), and By End-User (Higher Education Institutes, Pre-K, and K-12): Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2025”. According to the report, the U.S. Education market is predicted to be valued at approximately USD 736 million in 2018 and is expected to reach a value of around USD 918 million by 2025, at a CAGR of around 3.15% between 2019 and 2025.

The library management system is defined as the software predicted to identify subscription, storage, and retrieval of books or periodicals. It also assists in producing reports on numerous matters like overdue periodicals, list of magazines, books, reports of publishers, and library members for non-receipt of books as well as periodicals. Additionally, libraries depend upon library management systems for effectively handling asset collections along with managing relations with their members.

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Furthermore, library management system is a kind of software that is designed to effectively manage key housekeeping activities of a library. Moreover, libraries depend on library management tools for handling asset collections & relationship of libraries with the library members. In addition to this, library management system systematically maintains & catalogs the data related to books. For instance: author of the book, book edition, and book publication or publisher.

Escalating awareness about the benefits of the library management system to steer market trends

The library management system offers major benefits including effective control over the library collection, enhancing the current library services & launching of new services, resource sharing among myriad libraries across the region, and prevention of task duplication. This, in turn, will augment the growth of the library management system industry in the U.S during the period from 2019 to 2025.

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Furthermore, the rise in the student population base availing the library services is likely to drive the market growth over the forecast timeline. However, massive utilization of open source library management software is expected to inhibit the growth of the U.S. library management system industry over the forecast timeframe. Nonetheless, growing customization of the library management systems for fulfilling the needs of the library members will generate new growth horizons for the market in the U.S. over the forecast timeline.

School library to dominate the type segment by 2025 in terms of revenue

The growth of the segment during the forecast period is due to an increase in the number of private schools having library facilities in the U.S. resulting in humungous demand for library management systems across the U.S.

Digital content distribution segment to register highest CAGR over the forecast timeline

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The solution segment is set to record the highest growth rate of more than 3% during the period from 2019 to 2025. The growth of the segment over the forecast timeline is credited to rise in the digitization in the U.S. and easy access to e-books & e-magazines in the country.

Some of the key players involved in the business include ABC Clio, Axiell Group AB, Innovative Interfaces, Inc., Insight Informatics Pty Ltd., Over Drive, Inc., Civica, Mackin Educational Resources, Recorded Books, Inc., Third Iron LLC, Awapal Solutions Pvt, Ltd., Library Ideas, LLC, Follett Corporation, Springer International Publishing AG, Media Source Inc., Mango Languages, BiblioCommons Inc., SirsiDynix, CR2 Technologies, Evergreen, Midwest Tape, Capita, Lucidea, ProQuest, and Brainfuse.

This report segments the U.S. Library Management System market as follows:

U.S. Library Management System Market: By Type Analysis

School Library
Academic Library
Public Library
Others

U.S. Library Management System Market: By Solution Analysis

Integrated Library System
Digital Content Distribution

U.S. Library Management System Market: By End-User Analysis

Higher Education Institutes
Pre-K
K-12

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