The global cloud Electronic Lab Notebook (ELN) market is on a remarkable growth trajectory. It’s projected to exceed USD 332.3 million by 2023 and soar to USD 1,203.3 million by 2033, with an impressive Compound Annual Growth Rate (CAGR) of 13.7% during this period.
Cloud ELN (Electronic Lab Notebook) services offer robust data security, easy accessibility, and precise functionality. They empower users to access data and workflows from anywhere with an internet connection, fostering seamless collaboration within organizations. These services are favored by businesses of all sizes for their affordability and effectiveness.
The market’s growth is further fueled by the increasing integration of advanced technologies. In today’s digital landscape, safeguarding data against cyber threats is paramount for enterprises. Cloud ELN services play a crucial role in this aspect, enabling businesses to fortify their defenses and optimize resource allocation for maximum efficiency and growth.
Among the industries driving the adoption of cloud ELN services are pharmaceutical and life sciences. These sectors benefit greatly from the digitalization of laboratory data facilitated by cloud ELN software. It simplifies data searches, enhances data management, fosters collaboration, ensures data protection, and centralizes information, among other advantages.
Moreover, cloud-based ELN services empower researchers and scientists to easily search, access, and share their experimental findings. This accessibility and collaboration further propel the demand for cloud ELN services, making them indispensable tools in modern laboratory settings.
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North America is anticipated to dominate the global market during the forecast period. The number of biotech businesses using cloud ELN services is rising. The existence of prominent cloud ELN service providers like PerkinElmer, Thermo Fisher Scientific, Agilent Technologies, Bruker Corporation, Benchling, and many others makes the United States one of the leading nations in healthcare technology. As a result, the existence of such important players increases demand for cloud ELN services in the United States.
Key Takeaways from Cloud ELN Service Market Report:
- In 2018, the global cloud ELN service market size stood at US$ 190.7 million.
- The market expanded at a CAGR of 11.6% from 2018 to 2022.
- In 2022, the market size stood at US$ 296.4 million.
- In 2022, the healthcare and life sciences segment captured a 27% market share.
- The large enterprise segment captured 56.9% of market shares in 2022.
- Europe Cloud ELN service market accounted for 25.4% of the global market shares in 2022.
- Germany captured a 6.7% market share in 2022.
- North America’s cloud ELN service market captured a 29.5% market share in 2022.
- China’s cloud ELN service market held a 15.7% global market share in 2022.
Recent Developments Observed by FMI:
- IBM unveiled its “IBM Security QRadar Suite” security suite in April 2023. The new launch shows the QRadar Brand’s considerable growth and development. The new suite is intended to streamline the incident lifecycle for security analysts.
- ManageEngine, an enterprise IT management company, debuted the Managed Security Service Provider (MSSP) edition of their Log360Cloud in April 2023.
- Oracle Cloud Infrastructure (OCI) introduced new services and capabilities in March 2023 to give customers additional flexibility. Some notable OCI users include Samsung Securities, Cox Automotive, GoTo, and Vodafone.
Key Players in Cloud ELN Service Market:
- Dassault Systemes SA
- PerkinElmer Inc.
- Thermo Fisher Scientific
- Agilent Technologies Inc.
- Bruker Corporation
- Benchling Inc.
- Abbott Informatics Corp.
- LabVantage Solutions Inc.
- Lab-Ally
- Kinematik US & Inc.
- Codon Software Pvt. Ltd.
- LabWare
- Bio-ITech BV
- Agaram Technologies Pvt. Ltd.
- AgileBio (LabCollector)
- BioData Inc. (Labguru)
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Cloud ELN Service Market Segmentation:
By Solution:
- Software
- Laboratory information Management Systems (LIMS) Platforms
- Cloud Electronic Lab Notebook (ELN) Software
- Services
- Validation Services
- Consulting Services
- Implementation and Integration Services
- Support and Maintenance
- Training
By Deployment:
- Public Cloud
- Private Cloud
By Enterprise Size:
- SMEs
- Large Enterprises
By Industry:
- Healthcare and Life Sciences
- Energy
- Academic & Scientific Research
- Food & Beverages
- Petrochemicals
- Mining and Metals
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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