Libraries engage in maintaining collections of documents (e.g. books, journals, newspapers, and music) and facilitating the use of such documents (regardless of its physical form and characteristics) to meet informational, research, educational, or recreational needs of their users.
Archives comprise establishments primarily involved in acquiring, researching, storing, preserving and giving access to public historical documents, photographs, maps, audio material, audiovisual material, and other archival material of historical interest. Most of the resources are electronically accessible.
The global libraries and archives market was valued at $97.5 billion in 2017. Asia Pacific was the largest geographic region accounting for $29.6 billion or 30.3% of the global market. China was the largest country accounting for $15.3 billion or 15.7% of the global libraries and archives market.
The convergence of library, museum and archive services is gaining popularity as they are inter-related in terms of their service offerings, and have therefore gained acceptance. For instance, the Museum of History & Industry and the University of Washington Libraries collaborated with the Association of King County Historical Organizations to address the challenges related with preserving collections and to provide greater access to the community.
Companies Covered: Library of Congress, New York Public Library, National Archives of Australia, German National Library, British Library
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