The US Library Expenditure Market: Size, Trends and Forecasts (2022-2026 Edition)
The report titled “The US Library Expenditure Market: Size, Trends and Forecasts (2022-2026 Edition)”, provides an in-depth analysis of the US library expenditure market by value, by component, etc. The report also provides a detailed analysis of the US materials library expenditure market by value, by category, etc.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the US library expenditure market has also been forecasted for the period 2022-2026, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The US library expenditure market is highly fragmented with many market players operating in the region. Further, key players of the library expenditure market are Clarivate Analytics Plc, RELX Group (Elsevier), Alphabet Inc. (Google), Cambridge Information Group (ProQuest LLC) are also profiled with their respective business strategies.
Company Coverage
Library expenditure means spending of money by the libraries on books, printed materials, periodicals, digital materials, furniture, documentation, etc. Library expenditure is generally undertaken for the development, maintenance, and day-to-day functioning of the libraries. An adequate amount of funds is an essential requirement to incur library expenditure. The available funds are then allocated by spending money on various products and services in libraries.
There are several factors that affect library expenditure, which include the size of the library, location, types of library services, rising costs, and period covered. And, the main sources of library funding are tax, tuition, fundraising, fines, and fees.
Library expenditure can be segmented on the basis of components, which include Materials and Other Expenses. Materials include expenditure on library resources, such as journals, research databases, etc. Library materials expenditure is further segmented into three categories: Ongoing Subscriptions, One-Time Materials, and Other Materials.
The US library expenditure market has increased at a significant CAGR during the years 2017-2021 and projections are made that the market would rise in the next four years i.e. 2022-2026 tremendously. The library expenditure market is expected to increase due to an increasing number of academic libraries, rising higher education enrollment, growing higher education research & development (R&D) expenditures, soaring urban population, increasing spending on automation in the library, etc. Yet the market faces some challenges such as budget constraints, availability of open-source software, etc.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the US library expenditure market has also been forecasted for the period 2022-2026, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The US library expenditure market is highly fragmented with many market players operating in the region. Further, key players of the library expenditure market are Clarivate Analytics Plc, RELX Group (Elsevier), Alphabet Inc. (Google), Cambridge Information Group (ProQuest LLC) are also profiled with their respective business strategies.
Company Coverage
- Clarivate Analytics Plc
- RELX Group (Elsevier)
- Alphabet Inc. (Google)
- Cambridge Information Group (ProQuest LLC)
Library expenditure means spending of money by the libraries on books, printed materials, periodicals, digital materials, furniture, documentation, etc. Library expenditure is generally undertaken for the development, maintenance, and day-to-day functioning of the libraries. An adequate amount of funds is an essential requirement to incur library expenditure. The available funds are then allocated by spending money on various products and services in libraries.
There are several factors that affect library expenditure, which include the size of the library, location, types of library services, rising costs, and period covered. And, the main sources of library funding are tax, tuition, fundraising, fines, and fees.
Library expenditure can be segmented on the basis of components, which include Materials and Other Expenses. Materials include expenditure on library resources, such as journals, research databases, etc. Library materials expenditure is further segmented into three categories: Ongoing Subscriptions, One-Time Materials, and Other Materials.
The US library expenditure market has increased at a significant CAGR during the years 2017-2021 and projections are made that the market would rise in the next four years i.e. 2022-2026 tremendously. The library expenditure market is expected to increase due to an increasing number of academic libraries, rising higher education enrollment, growing higher education research & development (R&D) expenditures, soaring urban population, increasing spending on automation in the library, etc. Yet the market faces some challenges such as budget constraints, availability of open-source software, etc.
1. EXECUTIVE SUMMARY
2. INTRODUCTION
2.1 Library: An Overview
2.1.1 Importance of Library
2.2 Library Expenditure: An Overview
2.2.1 Factors that Affect the library Expenditure
2.2.2 Sources of Library Funding
2.2.3 List of Colleges & Universities with Library Expenditures
2.3 Library Expenditure Segmentation: An Overview
2.3.1 Library Expenditure Segmentation by Component
3. THE US MARKET ANALYSIS
3.1 The US Library Expenditure Market: An Analysis
3.1.1 The US Library Expenditure Market by Value
3.1.2 The US Library Expenditure Market by Component (Materials and Other Expenses)
3.2 The US Library Expenditure Market: Component Analysis
3.2.1 The US Materials Library Expenditure Market by Value
3.2.2 The US Materials Library Expenditure Market by Category (Ongoing Subscriptions, One-Time Materials and Other Materials)
3.2.3 The US Ongoing Subscriptions Library Expenditure Market by Value
3.2.4 The US One-Time Materials Library Expenditure Market by Value
3.2.5 The US Other Materials Library Expenditure Market by Value
3.2.6 The US Other Expenses Library Expenditure Market by Value
4. MARKET DYNAMICS
4.1 Growth Driver
4.1.1 Increasing Number of Academic Libraries
4.1.2 Rising Higher Education Enrollment
4.1.3 Growing Higher Education Research & Development (R&D) Expenditures
4.1.4 Soaring Urban Population
4.1.5 Increasing Spending On Automation in Library
4.2 Challenges
4.2.1 Budget Constraint
4.2.2 Availability of Open Source Software
4.3 Market Trends
4.3.1 Rising Libraries' Budget on Digital Materials
4.3.2 Escalating Expenditure of Libraries on Virtual Reality
5. COMPETITIVE LANDSCAPE
5.1 The US Library Expenditure Market Players by Product Comparison
5.2 The US Library Expenditure Players by Market Share Among Top 500 US Universities
6. COMPANY PROFILES
6.1 Clarivate Analytics Plc
6.1.1 Business Overview
6.1.2 Business Strategy
6.2 RELX Group (Elsevier)
6.2.1 Business Overview
6.2.2 Business Strategy
6.3 Alphabet Inc. (Google)
6.3.1 Business Overview
6.3.2 Business Strategy
6.4 Cambridge Information Group (ProQuest LLC)
6.4.1 Business Overview
6.4.2 Business Strategy
2. INTRODUCTION
2.1 Library: An Overview
2.1.1 Importance of Library
2.2 Library Expenditure: An Overview
2.2.1 Factors that Affect the library Expenditure
2.2.2 Sources of Library Funding
2.2.3 List of Colleges & Universities with Library Expenditures
2.3 Library Expenditure Segmentation: An Overview
2.3.1 Library Expenditure Segmentation by Component
3. THE US MARKET ANALYSIS
3.1 The US Library Expenditure Market: An Analysis
3.1.1 The US Library Expenditure Market by Value
3.1.2 The US Library Expenditure Market by Component (Materials and Other Expenses)
3.2 The US Library Expenditure Market: Component Analysis
3.2.1 The US Materials Library Expenditure Market by Value
3.2.2 The US Materials Library Expenditure Market by Category (Ongoing Subscriptions, One-Time Materials and Other Materials)
3.2.3 The US Ongoing Subscriptions Library Expenditure Market by Value
3.2.4 The US One-Time Materials Library Expenditure Market by Value
3.2.5 The US Other Materials Library Expenditure Market by Value
3.2.6 The US Other Expenses Library Expenditure Market by Value
4. MARKET DYNAMICS
4.1 Growth Driver
4.1.1 Increasing Number of Academic Libraries
4.1.2 Rising Higher Education Enrollment
4.1.3 Growing Higher Education Research & Development (R&D) Expenditures
4.1.4 Soaring Urban Population
4.1.5 Increasing Spending On Automation in Library
4.2 Challenges
4.2.1 Budget Constraint
4.2.2 Availability of Open Source Software
4.3 Market Trends
4.3.1 Rising Libraries' Budget on Digital Materials
4.3.2 Escalating Expenditure of Libraries on Virtual Reality
5. COMPETITIVE LANDSCAPE
5.1 The US Library Expenditure Market Players by Product Comparison
5.2 The US Library Expenditure Players by Market Share Among Top 500 US Universities
6. COMPANY PROFILES
6.1 Clarivate Analytics Plc
6.1.1 Business Overview
6.1.2 Business Strategy
6.2 RELX Group (Elsevier)
6.2.1 Business Overview
6.2.2 Business Strategy
6.3 Alphabet Inc. (Google)
6.3.1 Business Overview
6.3.2 Business Strategy
6.4 Cambridge Information Group (ProQuest LLC)
6.4.1 Business Overview
6.4.2 Business Strategy
LIST OF FIGURES
Figure 1: Importance of Library
Figure 2: Factors that Affect the Library Expenditure
Figure 3: Sources of Library Funding
Figure 4: Library Expenditure Segmentation by Component
Figure 5: The US Library Expenditure Market by Value; 2017-2021 (US$ Billion)
Figure 6: The US Library Expenditure Market by Value; 2022-2026 (US$ Billion)
Figure 7: The US Library Expenditure Market by Component; 2021 (Percentage, %)
Figure 8: The US Materials Library Expenditure Market by Value; 2020-2021 (US$ Billion)
Figure 9: The US Materials Library Expenditure Market by Value; 2022-2026 (US$ Billion)
Figure 10: The US Materials Library Expenditure Market by Category; 2021 (Percentage, %)
Figure 11: The US Ongoing Subscriptions Library Expenditure Market by Value; 2020-2021 (US$ Billion)
Figure 12: The US Ongoing Subscriptions Library Expenditure Market by Value; 2022-2026 (US$ Billion)
Figure 13: The US One-Time Materials Library Expenditure Market by Value; 2020-2021 (US$ Million)
Figure 14: The US One-Time Materials Library Expenditure Market by Value; 2022-2026 (US$ Million)
Figure 15: The US Other Materials Library Expenditure Market by Value; 2020-2021 (US$ Million)
Figure 16: The US Other Materials Library Expenditure Market by Value; 2022-2026 (US$ Million)
Figure 17: The US Other Expenses Library Expenditure Market by Value; 2020-2021 (US$ Billion)
Figure 18: The US Other Expenses Library Expenditure Market by Value; 2022-2026 (US$ Billion)
Figure 19: The US Number of Academic Libraries; September 2017-April 2021
Figure 20: The US Total Enrollment in Degree-Granting Postsecondary Institutions; 2016-2027 (Million)
Figure 21: The US Higher Education Research & Development (R&D) Expenditures; 2014-2021 (US$ Billion)
Figure 22: The US Urban Population; 2015-2021 (Million & Percentage, %)
Figure 1: Importance of Library
Figure 2: Factors that Affect the Library Expenditure
Figure 3: Sources of Library Funding
Figure 4: Library Expenditure Segmentation by Component
Figure 5: The US Library Expenditure Market by Value; 2017-2021 (US$ Billion)
Figure 6: The US Library Expenditure Market by Value; 2022-2026 (US$ Billion)
Figure 7: The US Library Expenditure Market by Component; 2021 (Percentage, %)
Figure 8: The US Materials Library Expenditure Market by Value; 2020-2021 (US$ Billion)
Figure 9: The US Materials Library Expenditure Market by Value; 2022-2026 (US$ Billion)
Figure 10: The US Materials Library Expenditure Market by Category; 2021 (Percentage, %)
Figure 11: The US Ongoing Subscriptions Library Expenditure Market by Value; 2020-2021 (US$ Billion)
Figure 12: The US Ongoing Subscriptions Library Expenditure Market by Value; 2022-2026 (US$ Billion)
Figure 13: The US One-Time Materials Library Expenditure Market by Value; 2020-2021 (US$ Million)
Figure 14: The US One-Time Materials Library Expenditure Market by Value; 2022-2026 (US$ Million)
Figure 15: The US Other Materials Library Expenditure Market by Value; 2020-2021 (US$ Million)
Figure 16: The US Other Materials Library Expenditure Market by Value; 2022-2026 (US$ Million)
Figure 17: The US Other Expenses Library Expenditure Market by Value; 2020-2021 (US$ Billion)
Figure 18: The US Other Expenses Library Expenditure Market by Value; 2022-2026 (US$ Billion)
Figure 19: The US Number of Academic Libraries; September 2017-April 2021
Figure 20: The US Total Enrollment in Degree-Granting Postsecondary Institutions; 2016-2027 (Million)
Figure 21: The US Higher Education Research & Development (R&D) Expenditures; 2014-2021 (US$ Billion)
Figure 22: The US Urban Population; 2015-2021 (Million & Percentage, %)
LIST OF TABLES
Table 1: The US Top 15 Institutions with the Largest Total Library Expenditures; 2021 (US$ Million)
Table 2: The US Library Expenditure Market Players by Product Comparison
Table 3: The US Library Expenditure Players by Market Share Among Top 500 US Universities
Table 1: The US Top 15 Institutions with the Largest Total Library Expenditures; 2021 (US$ Million)
Table 2: The US Library Expenditure Market Players by Product Comparison
Table 3: The US Library Expenditure Players by Market Share Among Top 500 US Universities
