Global Library Automation Service Systems Market Revenue from software expected to increase US$ 9,310.8 Mn between 2016-2026

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.

Global Library Automation Service Systems Market: Segmental Snapshot

By Type: The open-source systems type segment is estimated to account for highest revenue share among the type segments and is expected to register a CAGR of over 3%, owing to increasing number of individual developers and increasing availability of freemium library automation software.

By Application: The school libraries segment is projected to account for largest revenue share, whereas, the public library segment is expected to register a CAGR of over 3% during the forecast period.

By Region: Among various regions, North America is expected to be the largest library automation service systems market during the forecast period; whereas the market in Europe is expected to register the highest growth rate during the forecast period. Factors attributed for high growth in Europe are high adoption rate of library automation service systems by top universities and agencies in this region. The market in Asia Pacific is expected to register a CAGR of over 3% during the forecast period.