Libraries And Archives Global Market Report 2023

Major players in the libraries and archives market are Library of Congress, New York Public Library, National Archives of Australia, German National Library, British Library, Bodleian Library, Vatican Apostolic Library, Library of Saint Mark, Boston Public Library, Thomas Fisher Rare Book Library, Seattle Central Library, Abbey Library of Saint Gall, Austrian National Library, National Library of Sweden, Library of the Benedictine Monastery, Royal Danish Library, Civica Group, Innovative Interfaces, and SirsiDynix.

New York, June 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Libraries And Archives Global Market Report 2023" - https://www.reportlinker.com/p06464102/?utm_source=GNWThe global libraries and archives market is expected to grow from $73.68 billion in 2022 to $77.91 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The libraries and archives market is expected to reach $93.69 billion in 2027 at a CAGR of 4.7%.

The libraries and archives market includes revenues earned by entities by providing library lending services, information services, archival operations, mobile library operations, and reference services.The market value includes the value of related goods sold by the service provider or included within the service offering.

Only goods and services traded between entities or sold to end consumers are included.

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resources so that people can stay informed, advance scholarship, and find amusement, and the archives gather and make unpublished materials accessible.

North America was the largest region in the libraries and archives market in 2022. The regions covered in the libraries and archives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of libraries and archives are libraries and archives.Libraries are groups of collections of books and other print or nonprint resources that are kept up and organized for use in reading, consulting, studying, and other activities.

The sizes involved are small, medium and large which are deployed on premise and cloud-based for public and commercial applications used by higher education institutes, pre-k, and k-12 end users.

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.

Technological development is a key trend gaining popularity in the libraries and archives market.Major companies operating in libraries and archives are focused on developing innovative solutions to strengthen their position in the market.

For instance, in January 2023, Choice (American Library Association), a US-based publishing unit of the association of college and research libraries, launched its LibTech Insights which is a new library technology content channel.LibTech Insights is a content vertical that examines the day-to-day impact of library and education technology on academic librarians, faculty, researchers, administrators, and students.

The LibTech Insights features include blog posts, webinars, podcasts, and other content formats. Additionally, it provides pragmatic instruction and guidance around using and implementing library technology.

In December 2021, Clarivate Plc., a UK-based analytics company acquired ProQuest LLC. for $5.3 billion. Through this acquisition, Clarivate Plc. aims to gain access to authoritative information and accelerate innovation and progress and become a leading provider of comprehensive research intelligence. ProQuest LLC is a US-based publishing company that offers access to theses, dissertations, ebooks, newspapers, periodicals, historical collections, governmental archives, cultural archives, and information services for libraries.

The countries covered in the libraries and archives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The libraries and archives market research report is one of a series of new reports that provides libraries and archives market statistics, including libraries and archives industry global market size, regional shares, competitors with libraries and archives market share, detailed libraries and archives market segments, market trends, and opportunities, and any further data you may need to thrive in the libraries and archives industry. This library and archives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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