Library Automation Service System Market Size, Share, Growth, and Industry Analysis by Type (Commercial System, and Open Source System) By Application (School Libraries, Public Libraries, Other Libraries, and Others), Regional Insights, and Forecast From 2024 To 2031

Library Automation Service System Market Report Overview

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The global library automation service system market size was USD 1053.7 million in 2021 and is projected to touch USD 1433.56 million by 2031, exhibiting a CAGR of 3.1% during the forecast period.

Library automation service system is a type of automation software. The function of the software is cataloging, acquisition, serials management, public access, circulation, indexing & abstracting, and reference.

The automation service system market is expected to grow due to the evolution of newer library management technologies. The software is used to carry out library functions such as tracking books, bills, and orders. Further, the software offers librarians to reduce complexity and maintain updated records. An increased number of libraries coupled with the high adoption of advanced technology is estimated to fuel market growth. The software used in schools, universities, and public libraries is predicted to accelerate market progress. A large number of academic institutions worldwide and high demand for library management is expected to create market growth opportunities. Increased adoption of cloud-based solutions and the introduction of an innovative solution is anticipated to accelerate market growth. On the contrary, high manufacturing costs and maintenance are expected to hamper market growth in the upcoming years.

COVID-19 Impact: Closure of Libraries and Universities during the Pandemic to Hamper Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with library automation service system experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Closure of libraries, universities, and schools due to the outbreak of the COVID-19 pandemic affected market growth. Lower demand for the technology coupled with disruption in supply and chain hamper the market growth. A shutdown of manufacturing units and fluctuation of raw materials prices. Social distance protocols and travel bans altogether affected market growth to some extent. However, the re-opening of schools, colleges, and libraries is anticipated to foster market growth.

LATEST TRENDS

"Increased Need for Library Management to Drive Market Growth"

Increasing demand for library management and maintaining daily track to avoid losing books or bills are anticipated to fuel market growth. The technology is designed to manage all functions of a library. It helps to maintain a database of new and old books coupled with recording the data for borrowed members along with due dates. Such broad application of the technology is anticipated to drive market growth. Also, it tracked the number of issued books and returned books. Also, it offers to check acceptable charges and an easy way to find books or availability. These factors are predicted to surge the library automation service system market progress in the upcoming years.

Library Automation Service System Market Segmentation

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• By Type

Based on type, the market is divided into commercial system, and open source system.

Open source system expected to be the leading part of the segmentation type.

• By Application

Based on the application, the market is divided into school libraries, public libraries, other libraries, and others.

School libraries are expected to be the leading part of application segmentation.

DRIVING FACTORS

"High Adoption for Advanced Technology to Accelerate Market Growth"

Inclination towards the adoption of advanced technology is estimated to surge market growth. Growing awareness about the advantages of the technology is predicted to surge market growth. A large number of academic institutions across the world and high demand for library management are expected to create an opportunity for the market growth. Increased adoption of cloud-based solutions and the introduction of an innovative solution is anticipated to accelerate market growth. Rapid development in software technology and massive demand for the technology for managing libraries effectively is estimated to fuel market growth. An increase in a number of smartphone users coupled with the technology can integrate smartphone end-user applications such as message alerts. These factors are estimated to foster library automation service system market growth in the coming years.

"Increase in the number of Universities and Schools to Surge Technology Adoption "

An increase in the number of universities and schools worldwide, coupled with an increased need for planning & managing library activities, is anticipated to drive market growth. The functions performed by the software are tracking books, bills, and finding out books—today's population demand effective and fast software technology. Technology makes the librarian's work easy and fast. It helps to reduce the complexity of finding books and tracking books. Such factors are anticipated to drive market growth in the forthcoming years. Several advantages of the software are managing book resources, easy data management, reduced duplication of work, and time management. These software advantages are anticipated to surge library automation service system market progress.

RESTRAINING FACTORS

"High Manufacturing Cost and Heavy Maintenance to Restrict Market Growth "

High manufacturing costs and maintenance are anticipated to hamper market growth in the upcoming years.

Library Automation Service System Market Regional Insights

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"Presence of Academic Institutions and Libraries in Europe to Drive Market Share  "

Europe is anticipated to account for the highest library automation service system market share owing to the presence of famous libraries. An increased number of schools and universities coupled with high adoption of advanced technology is estimated to fuel market growth. The software used in schools, universities, and public libraries is predicted to accelerate market progress. A large number of academic institutions in the region and high demand for library management are expected to create an opportunity for market growth in the forthcoming years.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

LIST OF TOP LIBRARY AUTOMATION SERVICE SYSTEM COMPANIES

• Ex Libris (Israel)
• SirsiDynix (U.S.)
• Innovative Interfaces (U.S.)
• Capita (U.K.)
• Infor (U.S.)
• PTFS (U.K.)
• OCLC (U.S.)
• EOS (U.S.)
• Auto Graphics (U.S.)
• LAT (India)
• PrimaSoft (U.S.)
• Equinox Software (India)
• Libsys (India)
• Book Systems (U.S.)
• CR2 Technologies (India)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.