The global library automation service systems market was valued at US$ 1,696.8 Mn in 2016 and is projected to expand at a CAGR of 3.34% from 2017 to 2026. The open source systems segment in the global library automation service systems market is estimated to account for major revenue share of 71.6% in 2017 owing to increasing number of vendors providing free automation software with features and tools similar to commercially available software at comparatively lower costs.
Library automation entails integration of telecommunication and computer technology to library functions such as cataloguing, acquisition, information retrieval, circulation, serials control, reference, and administration. Rising demand for automation and increasing adoption of information and communication technology (ICT) for various processes is a major factor driving growth of the global library automation service systems market.
In addition, technological advancements such as implementation of radio frequency identification devices and automated cataloging standards is another factor fueling growth of the global library automation service systems market.
However, high cost of these software and systems is a major factor hampering growth of the global library automation service systems market.
Companies profiled in the report are OCLA, Sirsi corporation, PTFS, INC, Infor , Capita plc., Libsys ltd.