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The US Library Expenditure Market: Size, Trends and Forecasts (2020-2024)

  • ID: 4995520
  • Report
  • February 2020
  • Region: United States
  • 59 Pages
  • Daedal Research
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FEATURED COMPANIES

  • Alphabet Inc. (Google)
  • Clarivate Analytics Plc
  • RELX Group (Elsevier)
  • MORE

Scope of the Report

The report titled “The US Library Expenditure Market: Size, Trends and Forecasts (2020-2024)”, 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 2020-2024, 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 financial information and respective business strategies.

Company Coverage

  • Clarivate Analytics Plc
  • RELX Group (Elsevier)
  • Alphabet Inc. (Google)
  • Cambridge Information Group (ProQuest LLC)

Executive Summary

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 2015-2019 and projections are made that the market would rise in the next four years i.e. 2020-2024 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.

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Alphabet Inc. (Google)
  • Clarivate Analytics Plc
  • RELX Group (Elsevier)
  • MORE

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 Financial Overview
6.1.3 Business Strategy
6.2 RELX Group (Elsevier)
6.2.1 Business Overview
6.2.2 Financial Overview
6.2.3 Business Strategy
6.3 Alphabet Inc. (Google)
6.3.1 Business Overview
6.3.2 Financial Overview
6.3.3 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; 2015-2019 (US$ Billion)
Figure 6: The US Library Expenditure Market by Value; 2020-2024 (US$ Billion)
Figure 7: The US Library Expenditure Market by Component; 2019 (Percentage, %)
Figure 8: The US Materials Library Expenditure Market by Value; 2018-2019 (US$ Billion)
Figure 9: The US Materials Library Expenditure Market by Value; 2020-2024 (US$ Billion)
Figure 10: The US Materials Library Expenditure Market by Category; 2019 (Percentage, %)
Figure 11: The US Ongoing Subscriptions Library Expenditure Market by Value; 2018-2019 (US$ Billion)
Figure 12: The US Ongoing Subscriptions Library Expenditure Market by Value; 2020-2024 (US$ Billion)
Figure 13: The US One-Time Materials Library Expenditure Market by Value; 2018-2019 (US$ Million)
Figure 14: The US One-Time Materials Library Expenditure Market by Value; 2020-2024 (US$ Million)
Figure 15: The US Other Materials Library Expenditure Market by Value; 2018-2019 (US$ Million)
Figure 16: The US Other Materials Library Expenditure Market by Value; 2020-2024 (US$ Million)
Figure 17: The US Other Expenses Library Expenditure Market by Value; 2018-2019 (US$ Billion)
Figure 18: The US Other Expenses Library Expenditure Market by Value; 2020-2024 (US$ Billion)
Figure 19: The US Number of Academic Libraries; September 2017-April 2019
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; 2011-2018 (US$ Billion)
Figure 22: The US Urban Population; 2012-2018 (Million & Percentage, %)
Figure 23: Clarivate Analytics Plc Revenues; 2017-2018 (US$ Million)
Figure 24: Clarivate Analytics Plc Revenues by Product Line; 2018 (Percentage, %)
Figure 25: Clarivate Analytics Plc Revenues by Region; 2018 (Percentage, %)
Figure 26: RELX Group Revenue; 2015-2019 (US$ Billion)
Figure 27: RELX Group Revenue by Segments; 2019 (Percentage, %)
Figure 28: RELX Group Revenue by Region; 2019 (Percentage, %)
Figure 29: Alphabet Inc. Revenues; 2015-2019 (US$ Billion)
Figure 30: Alphabet Inc. Revenues by Segments; 2019 (Percentage, %)
Figure 31: Alphabet Inc. Google Revenues by Segments; 2019 (Percentage, %)
Figure 32: Alphabet Inc. Revenues by Region; 2019 (Percentage, %)

List of Tables
Table 1: The US Top 15 Institutions with the Largest Total Library Expenditures; 2018 (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

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  • Alphabet Inc. (Google)
  • Cambridge Information Group (ProQuest LLC)
  • Clarivate Analytics Plc
  • RELX Group (Elsevier)
Note: Product cover images may vary from those shown
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The author's core strengths include a seasoned management team, a highly demonstrable track record of seamless process integration and consistent delivery position. The research team uses its extensive knowledge of the various industries to analyze the market trends from both a vendor and an end-user perspective.

The research strategy is focused on high-quality secondary data combined with elaborate use of primary data. The team of research analysts provides a 360-degree overview of available data.

The analysts begin by searching industry reports, surveys, trade publications, company reports and press releases. They also include information gained by extensive interviews with major players and industry participants.

The background information, related to industry statistics, is provided by the author's proprietary databases.

The information is then analyzed and synthesized into a report - with market forecast, industry trends, and competitive strategies. The team of research analysts use both qualitative tools and quantitative techniques to get an insight into the industry.

The author's core expertise lies in researching, compiling and analyzing vast amounts of publicly available information and premier databases, into widely read reports.

 

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