Library Expenditure Market: 2020-2024 Future Development, Trends, Share, Size, Manufacturers Analysis and US Forecast Report

"Get This Report with Special Discount | Library Expenditure Market report provides analysis of top players in all regions with industry size, technology, market insights, demand, trend, key statistics and industry forecasts to 2024."

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The report titled "The US Library Expenditure Market: Size, Trends and Forecasts (2020-2024)" provides an in depth analysis of the US library expenditure market by value, by component, etc. The report also provides a detailed analysis of the US materials library expenditure market by value, by category, etc.

The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the US library expenditure market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

Key Company Coverage:
o Clarivate Analytics Plc
o RELX Group (Elsevier)
o Alphabet Inc. (Google)
o Cambridge Information Group (ProQuest LLC)

Library expenditure means spending of money by the libraries on books, printed materials, periodicals, digital materials, furniture, documentation, etc. Library expenditure is generally undertaken for the development, maintenance, and day-to-day functioning of the libraries. An adequate amount of funds is an essential requirement to incur the library expenditure. The available funds are then allocated by spending money on various products and services in libraries.

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There are several factors that affect the library expenditure, which include size of the library, location, types of library services, rising costs, and period covered. And, the main sources of library funding are: tax, tuition, fund raising, fines, and fees.

Library expenditure can be segmented on the basis of component, which includes Materials and Other Expenses. Materials include expenditure on library resources, such as journals, research databases, etc. Library materials expenditure is further segmented into three categories: Ongoing Subscriptions, One-Time Materials, and Other Materials.

The US library expenditure market has increased at a significant CAGR during the years 2015-2019 and projections are made that the market would rise in the next four years i.e. 2020-2024 tremendously. The library expenditure market is expected to increase due to increasing number of academic libraries, rising higher education enrollment, growing higher education research & development (R&D) expenditures, soaring urban population, increasing spending on automation in library, etc. Yet the market faces some challenges such as budget constraint, availability of open source software, etc.

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