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Digital Library Software Market is Predicted to bolster Significant Growth Opportunities
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Digital library software offers a single platform for companies to store their documents and product information. It is freely available for research institutes to get access to different information needed during research. Digital library software is the digital counterpart of a physical library to create and store well-organized formats of all documents. This software enables the user to get access to the library data from any place as per need. The software allows companies to access or publish their documents to a world audience. It provides the functionalities for systematic selection, acquisition, search, and discovery of digital documents.
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The software is mostly used in institutes to maintain the records and make available all the documents in a digital format. Maintaining all documents in a physical format is difficult and it can damage the quality of documents, thus leading to the need for managing the documents digitally.
The impact of coronavirus directly inhibited the development of the digital library software market. As a consequence of the coronavirus shutdown, the bulk of businesses, research organizations and government agencies have closed down, which significantly hinders the digital library software market.
Global Digital Library Software Market: Dynamics
- Increasing demand for database management systems
The digital library software market is driven by growing demand for efficient database management systems and increasing the adoption of information and communication technology for automation of sharing, resources, and cataloguing all information. Several solution vendors are expected to set a new trend by creating open source library platforms for users to get access to worldwide data. Open source libraries are available for any global user. It creates the opportunity for other industries also to manage their documents and information in a digital format which can be accessible by employees. Interoperability issue of this software on different operating systems is hindering the market growth. Several solution providers are expected to introduce cross platform software to increase the market share.
Companies could be this software for employee training by sharing the company's research papers, production information, training documents and videos on their private authorized digital library. Big libraries and institutes are expected to adopt this software to mark their presence on digital platforms and maintain & manage their collection of information. Digital library software is a cost effective solution and provides centralized control on multiple processes of library access
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North America Led the Global Market in 2019
Based on region, the global digital library software market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
North America is expected to be largest revenue generating region for the digital library software market. Asia Pacific is expected to be the fastest growing region in the digital library software market because of high adoption rate of library automation service systems by universities and multiple agencies in this region.
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Key Players Operating in the Global Market
Key players operating in the global digital library software market are listed below:
Awapal Solutions Pvt. Ltd.
Axiell Group
Book Systems Inc.
Capita Plc
CR2 Technologies Ltd.
Follett Corp.
Infor
Inmagic Inc.
Insight Informatics Pty. Ltd.
Insignia Software
Invenio Business Solutions
Libramatic
LIBSYS Ltd.
Media Flex
PowerSchool Group LLC
PrimaSoft PC Inc.
Progressive Technology Federal Systems, Inc.
Soutron
Tech-Receptives Solutions Pvt. Ltd
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