Libraries & Archives in the US - Industry Market Research Report

May 2020 •
34 pages •
Report ID: 5104042 •
Format: PDF

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Page turner: Competition from online data resources will likely limit industry revenue growth

Abstract

Libraries & Archives

The Libraries and Archives industry exhibits a low level of market share concentration, with largest player being the Library of Congress. Public libraries, as a whole, dominate the industry, but are spread throughout the country to grant access to the free information to many Americans. Concentration in regions is typically dependent on the population within the region, as well as the number of colleges, average age of local citizens and historical significance.

Local municipalities keep industry fragmented

• The industry does not typically experience much merger and acquisition activity because nearly all establishments are government-run. Libraries are typically located in places with a larger population. Additionally, historical significance and the presence of colleges and universities attract new establishments. Despite being one of the largest libraries in the world, the Library of Congress still accounts for less than 10.0% of industry revenue. Additionally, the industry’s second-largest player, the New York Public Library, has almost 100 branches situated throughout New York City to expand its reach in a population-dense region.

Price points and quality drive internal competition
• In an industry dominated by public libraries, internal competition is marginal because most services are funded by the government and locations are determined by population size and distance to the nearest library. Nonetheless, operators compete on the basis of accessibility, depth of information, range of services, costs and customer service. Ease of access to inter-library loans and library databases are the most important competitive factors. Some operators choose to focus on specific collections to gain a competitive advantage among users looking for that topic. However, this method detracts consumers seeking more general information. Private libraries may also compete based on historical and academic settings, as well as exclusive access to private discussions with authors and private libraries, in an effort to increase annual dues and donations.

Industry establishments provide library or archiving services, maintaining collections of documents for informational, research, educational or recreational needs. Libraries store historical documents, photographs, maps, audio material and audiovisual material, and make them accessible to the public. This industry includes both public and private libraries, but excludes university libraries, corporate libraries and establishments that do not primarily provide library services.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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