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NEW YORK, December 18, 2017 /PRNewswire/ --
MarketResearch.biz announces publication of its most recently generated research report titled, "Global Library Automation Service Systems Market By Product Type (Commercial Systems, Open Source Systems, Others), By Application (School Library, Public Library, Other Library) And Region - Global Forecast To 2026", which offers a holistic view of the global library automation service systems market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017-2021) is projected to be US$ 9,310.8 Mn, which is expected to increase rather significantly over the latter part of the five-year forecast period.
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Global Library Automation Service Systems Market: Market Dynamics
According to the global library automation service systems market report, major factors driving growth of the market is rising demand for automation services and growing need for efficient database management systems. In addition, increasing adoption of information and communication technology (ICT) for automation of core functions, resource sharing, and automated cataloguing are factors further expected to drive growth of the library automation service systems market. Technological shift from barcode systems to radio frequency identification devices (RFID), which allows issuing of books without the need to physically handle it, is another factor driving growth of the market.
Installation costs for library automation service systems are comparatively high and are not affordable by some libraries, which is one of the major factors hampering growth of the market. Library automation systems consume more power, which further raises operational and maintenance costs.
According to the global library automation service systems market report, development of cost-effective systems will create lucrative opportunities for major players in the global market during the forecast period.
One of the trends driving growth of the market is a rising shift towards integrated library automation systems in developed and some developing countries. In addition, cloud-based integrated library systems are gaining traction in the global market, and this is expected to continue over the forecast period.
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Apart from these, other drivers, restraints, opportunities, and trends have been analysed and provided in the report, along with accurate and valuable insights gleaned through extensive primary and secondary research efforts.
Global Library Automation Service Systems Market: Forecast
The comprehensive research report comprises a complete forecast of the global library automation service systems market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global library automation service systems market is expected to expand at a significant CAGR of over 3% during the forecast period.
Global Library Automation Service Systems Market: Segmental Snapshot
The global library automation service systems market is segmented on the basis of type, application, and region. On the basis of type, the global library automation service systems market is segmented into commercial systems and open-source systems. On the basis of application, the global library automation service systems market is segmented into school libraries, public libraries, other libraries, and others. On the basis of region, the global library automation service systems market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
According to library automation service systems market infographics published on MarketResearch.Biz,
By Type: The open-source systems type segment is estimated to account for highest revenue share among the type segments and is expected to register a CAGR of over 3%, owing to increasing number of individual developers and increasing availability of freemium library automation software.
By Application: The school libraries segment is projected to account for largest revenue share, whereas, the public library segment is expected to register a CAGR of over 3% during the forecast period.
By Region: Among various regions, North America is expected to be the largest library automation service systems market during the forecast period; whereas the market in Europe is expected to register the highest growth rate during the forecast period. Factors attributed for high growth in Europe are high adoption rate of library automation service systems by top universities and agencies in this region. The market in Asia Pacific is expected to register a CAGR of over 3% during the forecast period.
Global Library Automation Service Systems Market: Competitive Analysis
Key players profiled in the global library automation service systems market report are Ex Libris Ltd., Sirsi Corporation, Innovative Interfaces Inc., Capita plc., Infor, PTFS Inc., OCLC Inc., Agent Information Software Inc., Library Automation Technologies Inc. (LAT), The Library Corporation, PrimaSoft PC Inc., Equinox Open Library Initiative, LIBSYS Ltd., Book Systems, Inc., and CR2 Technologies Limited.
Library Automation Service Systems Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017-2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global library automation service systems market for 2017-2026.
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