LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global library management systems market for the education sector to grow at a CAGR of over 3% during the forecast period, according to their latest market research report.
The use of blockchain technology for library management is one of the major trends being witnessed in the global library management systems market for education sector 2018-2022. With the use of blockchain technology, all the activities in a library such as borrowing, reserving, and returning can be done by all users, any time. With blockchain technology, all the processes that take place are on a centralized platform. All the libraries are connected to a central server, but blockchain facilitates a decentralized lending system. This technology can also be applied to online digital content like e-books, journals research papers, and other resources. Blockchain technologies enable the building of a distributed, permission-less, metadata archive for libraries and enable libraries as well as universities to use the Inter-Planetary File System (IPFS), which is a peer to peer protocol that can enable connectivity among a network of libraries and universities. Furthermore, the increase in research to assess the applicability of blockchain in the field of library management will further drive the adoption of blockchain technology in library management systems.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
According to Technavio analysts, one of the key factors contributing to the growth of the global library management systems market for the education sector is the increasing demand for effective library management:
Global library management systems market for the education sector: Increasing demand for effective library management
With technological advances in the educational technology sector, educational institutions are increasingly opting for advanced library management technology, thereby driving the adoption of library management systems that are not only more efficient compared with traditional manual library management systems but also help minimize and eliminate human error. Apart from this, library management systems can be easily integrated with existing technologies such as CMS and ERP for improved process efficiency. As a result, a large number of educational institutions are opting for library management systems. For instance, In May 2018, the University of Calgary, Canada, also implemented these solutions. Therefore, the increase in adoption of library management systems is expected to drive the growth of the global library management systems market for the education sector during the forecast period.
According to a senior analyst at Technavio for research on life science research tools, “Apart from the increasing demand for effective library management, some other factors boosting the growth of the global library management systems market are high demand for mobile access and dynamic reports and the use of analytics.”
Global library management systems market for the education sector: Segmentation analysis
The global library management systems market for education sector research report provides market segmentation by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for over 40% share, followed by the APAC and EMEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth, followed by the EMEA region.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
