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Library Management Software Market Share, Size, Analysis,
Growth, Strategies, Trends and Forecasts to 2024 | Hexa Research
"Library Management Software Market Worth USD
2.80 Billion By 2024."
The global Library Management Software Market is expected to reach USD 2.80 billion by 2024. Emerging
trend automating library functions is expected to be one of the key driving factors of the market. In 2016,
North American dominated the global market contributing to 40.5% of the market share pertaining to the
increasing number of online libraries along with corporates. Asia Pacific is expected to grow at the fastest
CAGR over the forecast period pertaining to the increasing awareness of education in the region.
In compliance with the driving factors, companies are focusing on software development as well as mergers
and acquisitions to expand their presence in global market. For instance, in October 2015, ProQuest
successfully acquired Ex Libris to provide new solutions that will help libraries to seize the opportunities in
rapidly changing technology. This strategy has been helpful to both libraries and the company’s financial
position on accounts of profound investments in research and libraries.
The companies are also focusing on expanding their software portfolio to maximize its end use through
means of various strategies. For instance, in April 2015, EBSCO acquired an online platform named
LearningExpress which would benefit the company to expand its student library range to help the students
improve their academic skills and get ready for mock test series.
Browse Details of Report @ https://www.hexaresearch.com/research-report/library-management-
software-market
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