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Libraries And Archives Market Outlook 2024: Exclusive Report By The Business Research Company | The Library of Congress, New York Public Library, National Archives of Australia, German National Library, British Library
Libraries And Archives Market Characteristics
The Business Research Company offers in-depth market insights through Libraries And Archives Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The libraries and archives market size has grown steadily in recent years. It will grow from $76.99 billion in 2023 to $80.58 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to educational and academic demand, cultural preservation, public access to information, government funding and support, community engagement..
The libraries and archives market size is expected to see steady growth in the next few years. It will grow to $96.91 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to digital transformation and e-libraries, community-centric services, lifelong learning initiatives, data management and information governance, increased importance of archives.. Major trends in the forecast period include curation of diverse content, community engagement, sustainability practices, preservation of digital assets, user-centric design..
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Market Segmentation:
The libraries and archives market covered in this report is segmented -
1) By Type: Libraries, Archives
2) By Deployment: On-Premise, Cloud-Based
3) By Size: Small, Medium, Large
4) By Application: Public, Commercial
5) By End-User: Higher Education Institutes, Pre-K, K-12
Major Driver - Surge In Library Users Propels Growth Of Libraries And Archives Market
The growing number of library users is expected to propel the growth of the libraries and archives market going forward. Library users refer to people who use the material to satisfy their informational demands. These users include students, teachers, scholars, scientists, and business executives. The primary goal of libraries and archives is to collect, organize, safeguard, and make information available to library users and to be helpful to users by providing preserved history and, more importantly, truth. For instance, in March 2022, according to a report shared by National and State Libraries Australasia (NSLA), an Australia-based peak body representing state and territory libraries, in 2020-21, around 9 million people had library memberships, which was 35 percent of Australia's population. Furthermore, about 144.8 million people used public library collections overall in the years 2020-21. Therefore, the growing number of library users is driving the growth of the libraries and archives market.
Competitive Landscape:
Major companies operating in the libraries and archives market report are The Library of Congress, New York Public Library, National Archives of Australia, German National Library, British Library, Bodleian Library, Vatican Apostolic Library, Library of Saint Mark, Boston Public Library, Thomas Fisher Rare Book Library, Seattle Central Library, Abbey Library of Saint Gall, Austrian National Library, National Library of Sweden, Library of the Benedictine Monastery, Royal Danish Library, Civica Group Ltd., Innovative Interfaces Inc., SirsiDynix, National Archives and Records Administration, Smithsonian Institution Libraries, Bibliothèque nationale de France, Library and Archives Canada, National Library of China, National Library of Russia, National Library of Spain, National Library of Australia, National Library of Brazil, National Library of India, Harvard University Library, Oxford University Libraries .
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Top Trend - Innovative Technological Solutions Transforming Libraries And Archives Market
Technological development is a key trend gaining popularity in the libraries and archives market. Major companies operating in libraries and archives are focused on developing innovative solutions to strengthen their position in the market. For instance, in January 2023, Choice (American Library Association), a US-based publishing unit of the association of college and research libraries, launched its LibTech Insights which is a new library technology content channel. LibTech Insights is a content vertical that examines the day-to-day impact of library and education technology on academic librarians, faculty, researchers, administrators, and students. The LibTech Insights features include blog posts, webinars, podcasts, and other content formats. Additionally, it provides pragmatic instruction and guidance around using and implementing library technology.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Libraries And Archives Market Characteristics
3. Libraries And Archives Market Trends And Strategies
4. Libraries And Archives Market - Macro Economic Scenario
5. Libraries And Archives Market Size And Growth
…..
27. Libraries And Archives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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