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Library Management Software Market size is set to grow by USD 682.8 million from 2024-2028, rise in demand for library management software from APAC boost the market, Technavio

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NEW YORK, June 19, 2024 /PRNewswire/ — The global library management software market size is estimated to grow by USD 682.8 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.35%  during the forecast period. Rise in demand for library management software from APAC is driving market growth, with a trend towards increase in the use of open-source library management software. However, growing concerns about data security  poses a challenge. Key market players include AmpleTrails, Awapal Solutions Pvt. Ltd., Axiell Group, Civica UK Ltd., Clarivate PLC, CodeAchi Technologies Pvt. Ltd., CR2 Technologies Ltd., Gayatri Software Services Pvt. Ltd., ICV Partners LLC, Insignia Software, Libero Systems Pty Ltd., Library Resource Management Systems Inc., LibraryWorld Inc., Mastersoft ERP solutions pvt. Ltd., Media Flex Inc., PowerSchool Holdings Inc., PrimaSoft PC Inc., Progressive Technology Federal Systems Inc., Soutron Global Inc., and Tech Receptives.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Library Management Software Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.35%

Market growth 2024-2028

USD 682.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

2.64

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

North America at 35%

Key countries

US, UK, China, Russia, and Canada

Key companies profiled

AmpleTrails, Awapal Solutions Pvt. Ltd., Axiell Group, Civica UK Ltd., Clarivate PLC, CodeAchi Technologies Pvt. Ltd., CR2 Technologies Ltd., Gayatri Software Services Pvt. Ltd., ICV Partners LLC, Insignia Software, Libero Systems Pty Ltd., Library Resource Management Systems Inc., LibraryWorld Inc., Mastersoft ERP solutions pvt. Ltd., Media Flex Inc., PowerSchool Holdings Inc., PrimaSoft PC Inc., Progressive Technology Federal Systems Inc., Soutron Global Inc., and Tech Receptives

Market Driver

Open-source library management software is a growing trend in the global library market. Notable companies, such as Ex Libris and EBSCO, support this movement by providing open-source discovery interfaces like VuFind and Blacklight, and launching projects like FOLIO. Kuali Foundation and Open Library Environment (OLE) collaborate to build open-source library management programs, with OLE offering SaaS solutions to academic and research libraries including Duke University Libraries, North Carolina State University Libraries, Lehigh Libraries, Cornell University Library, SOAS University of London’s SOAS Library, and Texas A&M University Libraries. 

The Library Management Software market is experiencing significant growth with an increasing number of educational institutions and organizations adopting digital solutions for managing their library resources. Automation of library processes, device compatibility, and user-friendly interfaces are key trends driving the market. Features such as digital catalogs, online reservation systems, and automated check-out and return processes are becoming essential for libraries to meet the demands of their users. Additionally, cloud-based solutions and integrations with other educational software are gaining popularity. The market is expected to continue growing as libraries seek to provide efficient and convenient services to their patrons. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

•         Library management software market faces a significant challenge in ensuring data security, particularly for cloud-based solutions. End-users demand that vendors adhere to certified security standards, such as ISO/IEC 27001 for managing information security assets, and SAS 70/SSAE 16 for examining service organization controls. While these certifications offer protection for data stored in certified data centers, they do not guarantee data encryption during Internet transmission.

•         The library management software market faces several challenges in implementing and integrating advanced technologies. Digitization and automation are key areas of focus, requiring significant investment in infrastructure and training. Transformation of processes and workflows can be complex, especially for smaller institutions with limited resources. Integration of various systems and applications, such as chatbots and analytics, can also pose challenges. Additionally, ensuring data security and privacy is a major concern. Procurement of licenses and upgrades, as well as ongoing maintenance and support, add to the financial burden. Overall, the library management software market requires a strategic approach to address these challenges and maximize the benefits of technology.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This library management software market report extensively covers market segmentation by  

Deployment 1.1 Cloud-based1.2 On-premisesEnd-user 2.1 School library2.2 Public library2.3 Academic library2.4 OthersGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Cloud-based-  Library Management Software (LMS) is a business solution that helps institutions manage their books and other resources efficiently. It streamlines borrowing and returning processes, automates overdue notices, and offers real-time inventory tracking. LMS enhances operational efficiency, reduces manual work, and improves user experience. It caters to various library types, including academic, public, and special libraries. By implementing LMS, organizations can save time, minimize errors, and better serve their patrons.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Library Management Software (LMS) market encompasses solutions that automate various library operations, including cataloging, inventory management, patron management, and digital collections. These platforms often incorporate AI-powered features, such as predictive analytics and seamless navigation, to enhance user experiences. With the shift towards remote engagement and digital transformation, cloud-based LMS have gained popularity. However, budget limitations and allocation challenges pose challenges for smaller libraries, leading to the exploration of opensource alternatives and cheaper solutions. Software upgrades, customization, research and development, and licensing are essential considerations in the LMS market. Despite these challenges, the market continues to evolve, with a focus on data security, smart devices, and virtual interactions.

Market Research Overview

The Library Management Software market encompasses solutions designed to automate and manage various library operations. These solutions facilitate the borrowing and returning of books, management of catalogs, and maintenance of member information. They offer features such as online catalogs, automated renewals, and overdue notices. Additionally, they provide tools for managing inventory, generating reports, and implementing security measures. The software caters to libraries of all sizes, from small community libraries to large academic institutions. It enhances efficiency, reduces manual labor, and improves the overall library experience for users.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentCloud-basedOn-premisesEnd-userSchool LibraryPublic LibraryAcademic LibraryOthersGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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 17,000 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Typeform Delivers New Solutions to Empower B2C Businesses to Better Engage Customers

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Brands can now use video, data enrichment, and AI-powered capabilities to create interactive, hyper-personalized experiences and uncover deeper insights

SAN FRANCISCO, Nov. 14, 2024 /PRNewswire/ — Typeform, the intuitive form builder and conversational data collection platform, today announced new features that provide business-to-consumer (B2C) businesses with the context, clarity, and convenience needed to better engage and understand their customers. Now businesses can further enhance the respondent experience, all while gathering richer, actionable data. 

Today, 70% of consumer decisions are based on emotion, including brand preference.¹ Buyers expect brands to tailor experiences to their personal preferences more than ever, but at the same time, they’re also becoming more cautious about sharing personal information. Typeform’s latest features help brands collect data directly from customers through interactive, personalized experiences they trust, then automatically enhance it with third-party insights to deepen their understanding. This empowers companies to deliver more targeted, data-driven marketing.

“Businesses can’t thrive on surface-level insights,” said Aleks Bass, Chief Product Officer, Typeform. “Our latest innovations give you the ability to dig deeper into truly knowing your customers by providing dynamic data collection experiences that encourage quality responses. Whether boosting conversions with a personalized product recommendation quiz or gathering feedback through video surveys, the common denominator is that your customers enjoy the experience.”

The offerings were unveiled at Typeforum 2024, Typeform’s first-ever virtual product spotlight event, designed to showcase the latest innovations from the company. Newly released features include: 

Enhanced Video Capabilities: Typeform now allows customers to respond with video, providing businesses deeper insights through voice and expressions, not just text. This builds on Typeform’s existing feature that enables creators to record, edit, and embed personalized videos into forms, boosting engagement and conversions. Typeform research found that 65% of marketers believe video is an effective tool for engaging and interacting with customers in ways that feel more human and create connection and loyalty.²Clarify with AI: Typeform’s Clarify with AI acts as a virtual interviewer, prompting follow-up questions based on customer responses. When a customer is asked about their experience and answers vaguely, like “good,” the AI encourages more detailed feedback, asking, “Good, how? What stood out?” For customers, it feels like a personalized conversation. For brands, it delivers more insights. Automated B2C Data Enrichment: Earlier this year, Typeform introduced automated B2B data enrichment, making it easier than ever to understand customers at a deeper level without needing to ask additional questions. Now, consumer-level enrichment is available in the Typeform platform. With just a personal email address, companies can pull in key data points from trusted third-party sources, providing a more complete picture of who’s on the other side of the screen.AI-powered Qualitative Analysis: With this feature, businesses can instantly analyze large volumes of text and video responses to surface key themes and insights, saving hours of manual work. Data Quality Tools: Invisible reCAPTCHA ensures data integrity by blocking bots and automated submissions, allowing only genuine responses to be collected. This safeguard enhances data reliability, helping teams make accurate, data-driven decisions.Klaviyo Integration: Typeform will soon be launching a new integration with Klaviyo, designed for B2C and direct-to-consumer (DTC) marketers. It will ensure that every insight gathered flows seamlessly into Klaviyo. Manual data transfers are eliminated as segments automatically update with Typeform data, enabling hyper-targeted campaigns customized to each customer’s unique profile. This integration combines Typeform’s interactive data collection with Klaviyo’s automation, facilitating more natural, personalized customer connections while driving business growth.

“We built a powerful product recommendation quiz not just to help our customers, but to generate invaluable data that allows us to better segment and engage them with relevant marketing,” said Addison Wennar, Digital Communications Manager, OGEE. “With the holiday shopping season approaching, these insights will be key. Typeform already delivers the highest response rates for us, and I’m excited to see how the new features will amplify that impact.”

The features are available today in Typeform for Growth plans. Watch the Typeforum 2024 recordings and learn how to use Typeform to better understand and engage customers here

About Typeform
Typeform is a distinctly intuitive form builder that helps over 150,000 customers collect and validate the data they need to grow their businesses. Designed with striking visuals, a conversational flow, and powerful data capabilities, Typeform empowers brands to give and get more with each form. Typeform drives more than 500 million responses each year and integrates with essential tools including Zapier, HubSpot, and Slack. For more information, visit www.typeform.com.

1         Pendell, R. (2024, October 15). Customer brand preference and decisions: Gallup’s 70/30 principle. Gallup.com. https://www.gallup.com/workplace/398954/customer-brand-preference-decisions-gallup-principle.aspx#:~:text=70%25%20of%20decisions%20are%20based,Making%20Process:%20Rational%20or%20Emotional?

2          Data from a survey of 105 Typeform customers conducted on September 30, 2024.

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SOURCE Typeform S.L.

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Electronic Drives and Controls Celebrates Impressive Growth and Strong Demand for Industrial Automation Solutions

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EDC has announced 39% revenue growth over the past year and a strengthened presence in the metals converting and composites industries. The company has also maintained key certifications, including CSIA, UL508A, Rockwell Automation, Siemens, and Ignition.

PARSIPPANY, N.J., Nov. 14, 2024 /PRNewswire-PRWeb/ — Electronic Drives and Controls, Inc. (EDC), a leading control system integrator and field service company for industrial automation and drive technology, today announced that the company has experienced a year of growth and success, achieving a 39% increase in revenue year-over-year. To meet the growing demand for automation and drive solutions, EDC has expanded its team, hiring Ricky Arcky as human resources manager and Tyler Schaberick as systems engineer. EDC attributes this growth to maintaining industry certifications, digital marketing efforts, a dedicated team, and strong, long-term partnerships.

“We are proud of the growth we’ve achieved this year, which is a testament to the hard work of our team and our commitment to delivering exceptional service to our clients.”

“We are proud of the growth we’ve achieved this year, which is a testament to the hard work of our team and our commitment to delivering exceptional service to our clients,” said Chuck Dillard, Vice President of EDC. “Our recent hires and increased project load reflect our strategy to grow both wider and deeper with our existing clients, as well as entering new industries.”

“We’ve put in years of preparation and invested heavily in digital marketing to get the word out about our services, knowing that growth was inevitable,” Dillard added. “Our team has worked tirelessly and the results speak for themselves: clients continue to return to us because of our technical expertise and the strong results we deliver.”

EDC’s expertise in coating & laminating, wire and cable, PLC programming and upgrades, as well as drive service, has allowed the company to strengthen its presence in the metals converting industry, securing new and expanded projects across multiple client plants. EDC has also successfully completed upgrades for a new client in the composites industry, widening the portfolio of industries it caters to.

In addition to recent growth, EDC remains committed to maintaining the highest industry standards through its CSIA certification, which ensures adherence to best practices in control system integration. Several certifications, including UL508A recertification and certifications from Rockwell Automation, Siemens, and Ignition, further emphasize EDC’s dedication to safety, technical proficiency, and continuous improvement.

About Electronic Drives and Controls, Inc.
Founded in 1968, Electronic Drives and Controls, Inc. (EDC) is a CSIA Certified control system integrator with deep domain expertise in the coating and laminating, and converting industries. The company’s large field service team specializes in AC and DC drives, PLCs and factory automation. Family owned and operated for more than 50 years, EDC’s team of engineers and technicians has a vast experience integrating new control systems and breathing life into older equipment. EDC has the engineering capability to design, build, start-up and service projects from the sophisticated to the simple and the service support team on call 24/7/365 to keep it all running at peak efficiency from day one and for years to come. In addition to the company’s certification as a Siemens Solution Partner and a Rockwell Automation Recognized System Integrator, EDC is a factory authorized/factory trained service center for over 40 drive brands. For more information, visit the company’s website, LinkedIn, Twitter, Facebook, and YouTube.

Media Contact

Georgia Whalen, Rivergate Marketing, (978) 697-2664, Gwhalen@rivergatemarketing.com, www.electronicdrives.com/home/

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SOURCE Electronic Drives and Controls, Inc. (EDC)

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Allstate Financial Services Selects Covr to Provide Life Insurance, Long-Term Care, and Disability Insurance Solutions

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Covr’s Digitally Enabled Insurance Platform Will Simplify the Buying Process

HARTFORD, Conn., Nov. 14, 2024 /PRNewswire/ — Covr, a leading digital insurance provider, has partnered with Allstate Financial Services, LLC to offer a streamlined suite of life, long-term care (LTC), and disability income insurance solutions through Covr’s digital platform. This partnership provides Allstate Financial Services customers with a simple, connected experience, featuring an intuitive, paperless process that makes it easier than ever to purchase insurance tailored to their diverse needs.

Covr’s platform offers an easy-to-use, self-guided experience to efficiently compare and recommend insurance products. Additionally, Allstate Financial Services will offer a range of products through Covr’s platform, including guaranteed issue life insurance through Gerber Life and disability insurance through Assurity, Ameritas, MassMutual, Mutual of Omaha and Principal. Traditional long-term care will also be available through Mutual of Omaha.

“We are extremely pleased to add Allstate’s network of 7,000+ representatives to our insurance platform,” said Michael Kalen, CEO of Covr. “Their business owners and individual customer base fits perfectly with our portfolio of simplified life, LTC, and disability income solutions for agents and their customers.”

“We’re committed to expanding solutions that better meet our customers’ protection needs,” said Scott Delaney, President and CEO, Allstate Financial Services. “With Covr’s digital platform, our representatives can deliver a more connected experience and offer a broader range of insurance options tailored to each customer’s unique needs.”

Allstate representatives will collaborate closely with Covr’s sales team to ensure ongoing support. Allstate Financial Services will also benefit from Covr’s top-tier case management services, providing end-to-end support throughout the entire insurance process.

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SOURCE Covr Financial Technologies

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