The global cloud ELN service market size is anticipated to surpass US$ 332.3 million in 2023. It is anticipated to hit US$ 1,203.3 million by 2033. The global market is anticipated to develop at a striking CAGR of 13.7% from 2023 to 2033.
Data security, accessibility, and precision are all guaranteed by cloud ELN services. They enable data and workflow access from any location via an internet connection, enhancing cooperation inside the enterprise. Enterprises of all sizes benefit from cloud ELN services as they are affordable and efficient. The rising integration of advanced technologies is flourishing in growth for the market.
Pharmaceutical and life science industries are increasing cloud ELN service adoption. Digitalization of laboratory data is promoted by cloud ELN software, which has advantages. It helps in making data searches simpler, enabling effective data management, collaboration, data protection, and data centralization, among others. Additionally, it makes it possible for researchers and scientists to search for, access, and share the findings of their experiments. As a result, these characteristics assist to fuel the market for cloud-based ELN services.
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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 was valued at US$ 190.7 million, growing at a CAGR of 11.6% to reach US$ 296.4 million by 2022. That year, the healthcare and life sciences segment accounted for 27% of the market, while large enterprises dominated with a 56.9% share. Regionally, Europe held 25.4% of the global market, with Germany contributing 6.7%. North America led with a 29.5% share, followed by China at 15.7%.
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:
The Cloud Electronic Lab Notebook (ELN) service market is spearheaded by prominent players such as Dassault Systèmes SA, PerkinElmer Inc., and Thermo Fisher Scientific, known for their comprehensive digital lab solutions. Agilent Technologies Inc. and Bruker Corporation also contribute significantly with their advanced analytical tools. Benchling Inc. and LabWare offer innovative data management platforms, while Abbott Informatics Corp. and LabVantage Solutions Inc. provide robust informatics solutions. Other notable companies include Lab-Ally, Kinematik US & Inc., Codon Software Pvt. Ltd., Bio-ITech BV, Agaram Technologies Pvt. Ltd., AgileBio (LabCollector), and BioData Inc. (Labguru), each enhancing lab efficiency and data integrity through their specialized cloud-based ELN services.
