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 full research report with TOC on "Library Management Software Market Size and Forecast, By Deployment (Cloud Based, On-Premises), By End-use (School Library, Public Library, Academics Library), And Segment Forecast, 2014 - 2024" at: https://www.hexaresearch.com/research-report/library-management-software-market

Cloud-based library solutions dominated the global library software market in 2016 and are expected to maintain its position over the forecast period. Furthermore, the cloud-based software was extensively used owing to several benefits like multi lingual articles, multiple format support and easy access. Furthermore, steady demand for on-premises solutions on account of several benefits including user comfort, pleasant surrounding along with rising footfall of students is expected to upsurge the progression of the market. This segment is expected to grow at CAGR of 2.7% over the projection period

The lucrative growth of library management software market primarily driven by increasing tangible stock which is also likely to be favored by easy access and use through smartphones or any other online platforms. These factors are expected to result in a noticeable growth of the global library management software market over the next forecast period.

Browse reports of similar category by Hexa Research:

Hexa Research has segmented the global library management software market based on deployment, end-use and region:

Segmentation by deployment, 2014 - 2024 (USD Million)

Cloud based

On-premises

Segmentation by end-use, 2014 - 2024 (USD Million)

School Library

Public Library

Academic Library

Others

Segmentation by region, 2014 - 2024 (USD Million)

North America

U.S.

Europe

Asia Pacific

China

India

Central & South America

MEA

Key players analyzed

Civica Pty Limited

ProQuest

Innovative Interfaces, Inc.

SirsiDynix

Book Systems Inc

Insignia Software.

PrimaSoft PC

Follett Corporation

Soutron Ltd.

LIBSYS Ltd.

About Hexa Research

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SOURCE Hexa Research

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Library Management Software Market Worth USD 2.80 Billion By 2024: Hexa Research - PR Newswire (press release)