Delivery : 24-72 Working Hours
Report Code: IM11045
Category : Software & Services
Library management software is an enterprise resource planning and management software for a library, which is used to carry out the library functions such as to track items, bills paid, orders received, and patrons who had borrowed books. Today, librarians are well aware of their increasingly complex relationships concerned workflow, content and discovery. In a bid to enable efficient management of the complexities in libraries, universities and other types of non-academic library environments deploy library management software systems. Library management software market tends to draw huge amount of revenues from medium to large or national level library management systems deployment and maintenance contracts.
The evolution of newer library management technologies is leading to the replacement of existing ones, which is in turn expected to drive the library management systems market growth in the years to come. There exists a huge scope for the library management software market in Asia-Pacific owing to the presence of large number of academic institutions in the region, that have not yet fully automated their library functions and the market thus mostly remained underpenetrated. This creates an opportunity for the existing and new global or regional players to expand into the library management software in Asia-Pacific. Moreover, with increase in the number of smartphone users, newer library system technologies capable of integrating mobile end-user applications, such as SMS alerts, into the library management systems have evolved, which are expected to drive the market growth during the forecast period.
Substantial revenues in the industry are generated by the annual maintenance fees or Software-as-a-Service (SaaS) renewals. In addition, owing to a large number of mergers and acquisitions that have taken place in the recent some years, the scope of consolidation in the library software industry is also immense.
In public sector library systems, a number of migrations have been discovered to be lateral in which a library moves from one actively supported integrated library system (ILS) of similar capabilities to another.
Through product developments that are capable of offering more efficient and convenient library management solutions, existing products are replaced, which is in turn is expected to drive the library management software market. The growing need for automation of library functions, which easily streamline library management information resources, has majorly driven the library management software market. In addition, the innovative solutions that readily provide mobile access to library linked content, further attract customers to implement the latest library management solutions, thereby driving its market growth. The feature of library management solution to keep the user-community engaged by pushing the relevant information to users, in a timely manner, has further driven growth in the library management solutions market. Advanced knowledge and request management tools offer efficiency in carrying out complex library functions to library professionals, which makes the adoption of library management solutions a must for the libraries. Adoption of popular cloud based Software-as-a-Service (SaaS) library management solutions are further expected to augment the growth in library management software market during the forecast period.
Some of the key players in the library management software market include Axiell Group, ProQuest, Biblionix, Book Systems Inc., ByWater Solutions, Capita, Civica Pty Limited, Companion Corp. Alexandria, EBSCO Information Services, Equinox Software, Inc., The Library Corporation, SirsiDynix, Follett School Solutions, Soutron Global, VTLS, PTFS Europe, Infor Library and Information Solutions.
Some of these vendors cater only to specific geographic areas. However, the library management software industry is observed to be highly competitive, as major players are also prone to facing severe competition from small regional firms. The market players try to secure contracts from their competitors through product developments that are designed to offer more inclusive, efficient and convenient library management systems.For instance, an important product development from Infor Library and Information Solutions called Air, a new interface for V-smart, is based on a responsive design to support smartphones and tablets. Air is also designed to support languages that have right-to-left scripts. The new Air interface was implemented by the Lewis and Clark Library in Helena, Montana in February 2016.
One of the significant events observed during the recent years in the library management software industry was the acquisition of Ex Libris by ProQuest in 2015. Ex Libris and Pro Quest have been the two major players in the library management systems market.
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