Overview and Scope
Libraries and archives refer to maintaining document collections for informative, scholarly, instructional, or recreational purposes. Libraries gather and make available published resources so that people can stay informed, advance scholarship, and find amusement, and the archives gather and make unpublished materials accessible.
Sizing and 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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Segmentation & Regional Insights
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
North America was the largest region in the libraries and archives market in 2023. The regions covered in the libraries and archives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the libraries and archives market are developing innovations such as library management systems to meet larger customer bases, more sales, and increase revenue. A library management system is a software solution designed to automate and streamline the various operations and processes within a library or information center. For instance, in October 2023, RUMC Library, a Malaysia-based medical university, launched the KOHA. KOHA’s intuitive system empowers students to explore the core collection, providing access to a diverse range of recommended reading materials. The online features of this system deliver exceptional search capabilities, enabling end-users to navigate the catalog efficiently and find the resources they need. It allows end-users to seamlessly perform actions such as loaning, reserving, and renewing books, enhancing the overall user experience. With KOHA’s user-friendly interface, students can engage with the library’s resources effortlessly, making the process of discovering, borrowing, and managing books more convenient.
The libraries and archives market report table of contents includes:
- Executive Summary
- Libraries And Archives Market Characteristics
- Libraries And Archives Market Trends And Strategies
- Libraries And Archives Market – Macro Economic Scenario
- Global Libraries And Archives Market Size and Growth
- Libraries And Archives Market Segmentation
- Libraries And Archives Market Regional And Country Analysis
……………
- Key Mergers And Acquisitions In The Libraries And Archives Market
- Libraries And Archives Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Libraries And Archives Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Libraries And Archives Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Libraries And Archives Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…………..
Table 76: The Library of Congress Financial Performance
Table 77: New York Public Library Financial Performance
Table 78: National Archives of Australia Financial Performance
Table 79: German National Library Financial Performance
Table 80: British Library Financial Performance
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