New Research from Outsell Sizes the Global Library Market

Data Shows Libraries Still a Strong Presence Despite Economic Headwinds
By: Outsell, Inc.
 
 
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* Digital

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BURLINGAME, Calif. - May 6, 2016 - PRLog -- Outsell, Inc., the world's only research and advisory firm focused on media, information, and technology, today announced publication of a new  report, Library Market Size 2016: Share, Forecast, and Trends. With an overview of the spending patterns and dynamics of an almost $30 billion market, the report covers a broad spectrum of libraries, ranging from public and education to corporate information centers.

Building on earlier Outsell library reports, the current report shows upwardly revised numbers of school and academic libraries, particularly in Asia Pacific, Africa, and Latin America. Survey data shows a continued shift from print to digital, with many libraries embracing new technologies and offering e-books and remote access to content, in an effort to meet the evolving needs of their patrons.

"As the information ecosystem continues to evolve and options proliferate, libraries are finding ways to re-invent their mission to remain relevant and show value," said Jim Hydock, Outsell VP & Lead Analyst. "For instance, many in the public sector are becoming technology and community centers. Overall, there is a shift to a more service-oriented mentality to engage with their constituents."

Key findings from the report include:

·        The library market has posted four years of positive growth, although it still lags the growth rate of the global economy and information industry as a whole.

·        Library budgets are not keeping pace with publishers' content price increases.

·        After several years of 4% to 5% budget growth, corporate libraries report only marginal growth for 2016, reflecting a sector that struggles to demonstrate robust return on investment.

Publishers and vendors serving this market can look for opportunities to back libraries' efforts to demonstrate value, such as through technology innovation or competitive licensing models, as libraries continue to evolve as 21st century institutions.

For media inquiries, please contact Dawn Ringel, Warner Communications, at dawn@warnerpr.com, or call +1 781-449-8456.

For more information about this report (https://www.outsellinc.com/search/d7entity/51769), please contact Srini Gomatam at contact_us@outsellinc.com, or call +1 650-342-6060.

About Outsell, Inc.

The rapid convergence of information, media, software and technology is reshaping businesses every day. Enter Outsell, Inc. (http://www.outsellinc.com/), the only research and advisory firm focusing on these three sectors. As the trusted advisor to executives, our analysts turn complexity into clarity, and provide the facts and insights necessary to make the right decisions. Our proven blend of big data, research, proprietary intelligence, and exclusive leadership communities produces tangible results and a strong ROI. We promise to deliver "wow" and ensure clients stay more focused, save time, and grow revenue in a fast-changing digital world.
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Industry:Technology
Location:Burlingame - California - United States
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