Outsell Inc.’s Forecast on Libraries’ Market Size, Share Shows Digital Age Forcing New Competition and Spending Models
Burlingame, CA, and London—April 1, 2008—Where have all the old-fashioned libraries gone?
Libraries are successfully changing their models to stay abreast of the new information world paradigm, according to Outsell’s “2008 Library Market Size, Share & Forecast Report”—the first to analyze the global market for information spending in all types of libraries, from traditional physical libraries to centralized information centers and content management functions. Outsell forecasts a 3.1 percent compound annual growth rate for content spending from 2007-2010, from $22.5 billion to $24.7 billion.
The report includes deep, rich data examining the global market for content among government, public, academic, school, corporate and other special libraries.
Among reported trends and findings:
-While overall library investments are increasing, the proportional share devoted to almost all content segments is shrinking. The one exception is education/training allocations, which have increased from 4 percent in 2004 to 11 percent in 2007.
-Self-publishing and syndication technologies are facilitating the rise of user-generated and institutionally generated content that, in many cases, displaces commercially published content. Libraries of all types are creating original content for their users.
-Today’s digital age is reflected in where libraries are putting their dollars. Most content spending—21 percent—is going toward scientific and technical content. That’s followed by educational information (11 percent), news (11 percent), and legal/tax/regulatory (10 percent). The remainder is distributed among such information types as HR, marketing and IT research, and credit and other business information.
Journalists who would like to talk with Outsell about the report should contact Dawn Ringel, Warner Communications, 781-449-8456 or dawn@warnerpr.com. Companies that would like to purchase it should go to http://outsellinc.com/store/products/719?refid=pr719.
ABOUT OUTSELL, INC.:
Outsell is the only research and advisory firm focused on the publishing, information, and education industries. Our international team provides independent, fact-based analysis and actionable advice about competitors, markets, operational benchmarks, and best practices, so our clients thrive and grow in today's fast-changing digital and global environment. Outsell’s headquarters are in Burlingame, CA, US and London, UK. Visit us at www.outsellinc.com.
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