The Libraries and Archives industry has suffered from tepid government funding over the five years to 2017 as struggling state and local government budgets resulted in cuts to public library funding. Similarly, federal government grants to public libraries declined early in the period, mostly due to growing concerns about the deficit. Private libraries, which are funded through membership fees and endowment funds, also experienced shrinking revenue. Limited government support during the current period is primarily due to the slow start of the economic recovery following the recession. Despite positive trends such as increased funding and disposable income levels over the next five years, the industry will continue to experience competition from online data resources and other forms of entertainment.
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 Libraries store historical documents, photographs, maps, audio material and audiovisual material, and make them accessible to the public.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.