22 April 2019, 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 investmcontinue reading →