|Last Quarterly Update:||2/27/2017|
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Organizations in this industry provide library or archive services, maintaining collections of print and electronic documents (such as books, journals, newspapers, and music) and facilitating their use for informational, research, educational, or recreational purposes. Major libraries and archives include the Library of Congress, the National Archives, and the New York Public Library, all based in the US, as well as the British Library, Library Archives Canada, and the Russian State Library.
The world is home to more than 320,000 public libraries worldwide, according to the Bill and Melinda Gates Foundation. About 75% of libraries are located in developing and transitioning countries. A major global initiative for libraries and archives is the expansion of digital collections, including e-books and downloadable audio and video files.
The US has about 120,000 libraries of various types, according to the American Library Association, including about 9,000 public libraries. US public libraries had revenue of about $11.5 billion in fiscal 2013, according to the Institute of Museum and Library Services.
Demand is driven by population. The success of libraries and archives depends on efficient operations and consistent funding. Large organizations may benefit from economies of scale in purchasing and administration. Small organizations can succeed by specializing or by serving an engaged community.
Libraries and archives compete with other nonprofit organizations for public and private funding and with other personal and professional obligations for volunteers. Libraries compete with bookstores ...
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