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Laboratory Information Management System (LIMS) Market Worth $3.8 billion | MarketsandMarkets™

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CHICAGO, May 31, 2024 /PRNewswire/ — Laboratory Information Management System (LIMS) Market in terms of revenue was estimated to be worth $2.1 billion in 2024 and is poised to reach $3.8 billion by 2029, growing at a CAGR of 12.9% from 2024 to 2029 according to a new report by MarketsandMarkets™.

Growing R&D expenditure in pharmaceutical & biotechnology companies, heightening requirement of customizable LIMS solutions, and rising demand for real-time data access in food & beverage industry are some of the factors that attribute to the growth of the market. The centralized platform provided by LIMS for managing diverse laboratory data, including patient information and test results, further propels its adoption. As laboratories increasingly focus on operational efficiency and workflow optimization, the demand for LIMS continues to surge, underlining its essential role in modern healthcare and research environments.

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Laboratory Information Management System (LIMS) Market Scope:

Report Coverage

Details

Market Revenue in 2024

$2.1 billion

Estimated Value by 2029

$3.8 billion

Growth Rate

Poised to grow at a CAGR of 12.9%

Market Size Available for

2018–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Type, Component, Deployment Model, Company Size and Industry

Geographies Covered

North America, Europe, Asia, Latin America, and Middle East & Africa

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Growing use of LIMS in cannabis industry

Key Market Drivers

Growing use of LIMS to comply with stringent regulatory requirements

 

The cloud-based segment is expected to register a substantial growth in the Laboratory Information Management Systems (LIMS) market by deployment mode.

The Laboratory Information Management Systems (LIMS) market is segmented into on-premise LIMS, cloud LIMS, and remote-hosted LIMS. In 2023, the cloud-based segment is expected to register a substantial growth in the Laboratory Information Management Systems (LIMS) market, by deployment mode. It is driven by scalability, flexibility, and cost-effectiveness. The ability to adapt to changing workloads, reduced upfront investments, and lower maintenance costs make cloud solutions attractive to diverse laboratories. The accessibility and ease of remote data management meet the needs of a modern workforce, while enhanced security features address data protection and compliance concerns. As the industry prioritizes agility, cost efficiency, and data security, the growth of cloud-based deployment in LIMS is expected to continue.

The large companies segment holds substantial share in the Laboratory Information Management Systems (LIMS) market, by company size.

The Laboratory Information Management Systems (LIMS) market is segmented into large companies, mid companies, and small companies. In 2023, the large companies segment holds substantial share in the Laboratory Information Management Systems (LIMS) market, by company size. The large share of the segment is attributed to their scalability across multiple sites, comprehensive features for efficient data management and compliance, and ability to integrate with diverse laboratory instruments and enterprise systems, ensuring centralized control and enhanced collaboration. These factors collectively support improved efficiency, regulatory compliance, and ROI in large-scale laboratory operations.

Asia is to witness a considerable growth rate during the forecast period.

The Laboratory Information Management Systems (LIMS) market is divided into five primary regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific market is expected to experience significant growth at a notable CAGR during the forecast period. Key drivers of this growth include the rise in medical tourism, increasing investments likely to attract new market participants, the emergence of various technologies, and heightened foreign direct investments from European and North American pharmaceutical and biotechnology firms in Asia. These factors are expected to fuel the advancement of Laboratory Information Management Systems (LIMS) applications in the Asia Pacific region.

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Laboratory Information Management System (LIMS) Market Dynamics:

Drivers:

Growing use of LIMS to comply with stringent regulatory requirements

Restraints:

High maintenance and service costs

Opportunities:

Growing use of LIMS in cannabis industry

Challenge:

Dearth of trained professionals

Key Market Players of Laboratory Information Management System (LIMS) Industry:

LabWare (US), LabVantage Solutions Inc. (US), GenoLogics Inc. (an Illumina Company) (Canada), Accelerated Technology Laboratories (ATL) (US), CloudLIMS (US), LabLynx, Inc. (US), Thermo Fisher Scientific (US), Thermo Fisher Scientific Inc. (US), Dassault Systèmes (France), Novatek International (Canada), Ovation (US),  Labworks LLC (US), Autoscribe Informatics (a wholly owned subsidiary of Autoscribe Limited) (US Computing Solutions, Inc. (US),  Agilent Technologies (US), Siemens (Germany), Clinsys (US) are the major players in this market. These companies are majorly focusing on the strategies such as agreements, collaborations, partnerships, and service launches in order to remain competitive and further increase their share in the market.

The break-down of primary participants is as mentioned below:

By Company Type – Tier 1: 38%, Tier 2: 45%, and Tier 3: 17%By Designation – C-level: 29%, Director-level: 44%, and Others: 27%By Region – North America: 42%, Asia Pacific: 21%, Europe: 28%, Latin America: 5% and Middle East & Africa: 4%

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Laboratory Information Management System (LIMS) Market – Key Benefits of Buying the Report:

This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.

This report provides insights on:

Analysis of key drivers (surge in LIMS adoption to meet stringent regulatory requirements, a heightened emphasis on enhancing laboratory efficiency, technological advancements offering sophisticated LIMS solutions, an increasing trend towards cloud-based LIMS adoption, and escalating R&D investments in pharmaceutical and biotechnology sectors), restraints (elevated maintenance and service costs, absence of standardized LIMS integration, challenges in interoperability, and limited uptake in small and medium-sized enterprises), opportunities (application of LIMS in the cannabis industry, the rising popularity of cloud-based solutions, and substantial growth potential in emerging markets), challenges (shortage of trained professionals and interfacing issues with informatics software) are factors contributing the growth of the LIMS market.Product Development/Innovation: Detailed insights on upcoming trends, research & development activities, and new software launches in the Laboratory Information Management Systems (LIMS) market.Market Development: Comprehensive information on the lucrative emerging markets, type, component, deployment model, company size, industry, and region.Market Diversification: Exhaustive information about the software portfolios, growing geographies, recent developments, investments in the Laboratory Information Management Systems (LIMS) market.Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, company evaluation quadrant, and capabilities of leading players in the global Laboratory Information Management Systems (LIMS) Market.

Related Reports:

Lab Automation Market – Global Forecasts to 2028

Laboratory Information System (LIS) Market – Global Forecasts to 2028

Medical Equipment Maintenance Market – Global Forecasts to 2028

Laboratory Informatics Market – Global Forecasts to 2026

Laboratory Centrifuges Market – Global Forecasts to 2026

Get access to the latest updates on Laboratory Information Management System (LIMS) Companies and Laboratory Information Management System (LIMS) Industry

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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Orange County Register Names Roth Staffing Companies one of the Top Workplaces for 2024

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This year’s recognition marks Roth Staffing’s twelfth time on the prestigious list.

ORANGE, Calif., Dec. 23, 2024 /PRNewswire-PRWeb/ — Roth Staffing Companies has been named as one of the Top Workplaces 2024 by Orange County Register Top Workplaces, making it their twelfth time to receive this honor. Roth Staffing earned its spot in the midsize category.

“Having established our business here in Orange County more than 30 years ago, this recognition holds a special place in our hearts. We’re thrilled and grateful to once again be named a Top Workplace!” – Adam Roth, CEO of Roth Staffing Companies.

This list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage, LLC. The confidential survey uniquely measures the employee experience and its component themes, including employees feeling Respected & Supported, Enabled to Grow, and Empowered to Execute, to name a few.

“Having established our business here in Orange County more than 30 years ago, this recognition holds a special place in our hearts. We’re thrilled and grateful to once again be named a Top Workplace!” shared Adam Roth, CEO of Roth Staffing Companies. “At Roth Staffing, our coworkers take pride in their contributions and are inspired to enjoy the process along the way. It’s their dedication to fulfilling our Purpose, ‘To make life better for the people we serve,’ that has made this achievement possible. Here’s to many more milestones ahead in 2025 and beyond!”

About Roth Staffing
Roth Staffing Companies is one of the largest privately held staffing firms in the United States, operating from more than 100 locations across 20 states and the District of Columbia. Roth Staffing consists of five specialized business lines: Ultimate Staffing Services for administrative and office positions, Ledgent Finance & Accounting,Ledgent Technology, Adams & Martin Group for legal staffing, and About Talent for workforce solutions. 

Roth Staffing Companies, L.P. has locations Arizona: Phoenix; California: Brea, Carlsbad, Century City, Cerritos, Costa Mesa, Fremont, Fresno, Inland Empire, Irvine, La Jolla, Los Angeles, Orange County, Oxnard, Palo Alto, Pasadena, Pleasanton, Roseville, Sacramento, San Diego, San Francisco, San Jose, Torrance, Tustin, Woodland Hills; Colorado: Denver; Connecticut: Hartford, New Haven; Florida: Boca Raton, Clearwater, Fort Lauderdale, Orlando, Tampa, West Palm Beach; Georgia: Atlanta; Massachusetts: Boston; Maryland: Baltimore, Columbia, Frederick, Rockville, Timonium; Michigan: Detroit; Minnesota: Bloomington, Minneapolis; Missouri: St. Louis, Kansas City; North Carolina: Raleigh; New Hampshire: Nashua; New Jersey: Paramus; Nevada: Las Vegas; Oregon: Portland; Texas: Austin, Dallas, Houston, North Houston, San Antonio; Virginia: Arlington; Washington: Wisconsin: Milwaukee. 

About Energage
Energage is a purpose-driven company that helps organizations turn employee feedback into useful business intelligence and credible employer recognition through Top Workplaces. Built on 17 years of culture research and the results from 27 million employees surveyed across more than 70,000 organizations,  Energage delivers the most accurate competitive benchmark available. With access to a unique combination of patented analytic tools and expert guidance, Energage customers lead the competition with an engaged workforce and an opportunity to gain recognition for their people-first approach to culture. For more information or to nominate your organization, visit energage.com or topworkplaces.com.

Media Contact

Samantha Cabot, Roth Staffing Companies, 714-939-8600, scabot@rothstaffing.com, rothstaffing.com 

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Trading Technologies achieves high spot in Chartis Buyside Platforms 2024 Rankings

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Firm also earns “strong category leader” status for Energy and Equity Trade Surveillance Solutions in new Chartis Market Quadrants report

CHICAGO, Dec. 23, 2024 /PRNewswire/ — Trading Technologies International, Inc. (TT), a global capital markets technology platform services provider, has earned the number 12 spot in the Chartis Buyside Platforms 2024 ranking of the top 50 providers of buy-side platforms and technology. The report released this month showcases the leading players in financial infrastructure and highlights providers delivering essential services and tools – including trading networks, market data, prime brokerage services and more – to buy-side market participants. The ranking, which Chartis called a testament of the “commitment to delivering exceptional value and innovation” to that community, provides insights into how the companies are shaping the industry with advanced solutions in asset management, risk assessment and operational efficiency.

Separately, in Chartis’ just-released Market Quadrants report, which provides a detailed evaluation of key providers offering advanced surveillance solutions tailored to the unique needs of the energy and equity markets, TT achieved “strong category leader” status for both energy and equity trade surveillance solutions. In both categories, TT received a four-star rank for “Industry Leading Platform Capabilities.” Of particular note, TT earned “industry-leading” four-star rankings across all measures in the equity surveillance category, including analytics and modeling, pre-trade reporting, post-trade reporting, data infrastructure and database management, and data visualization and ease/speed of access capabilities.

TT CEO Keith Todd said: “With a long history of service to the sell side, we have been working diligently to grow our appeal to buy-side market participants, and we’re incredibly honored to have earned in short order a number 12 ranking on a cultivated list of the top 50 service providers in the buy-side sector. It’s a great accomplishment that our broadening of products, asset classes and services available on the TT® platform – including our expansion from futures trade surveillance to a powerful multi-asset offering – are already achieving industry-leading recognition across important measures.”

Handling over 2.5 billion transactions this year, the TT platform connects to more than 100 global exchanges and liquidity venues across a growing number of asset classes. The platform delivers advanced tools for trade execution and order management, market data solutions, analytics, trade surveillance, risk management and infrastructure services to the world’s leading sell-side institutions, buy-side firms and exchanges.

Buy-side participants leverage a wide range of TT tools to meet their trading needs, including a comprehensive suite of advanced execution algorithms, algo design and deployment tools, Autospreader and APIs. Through Abel Noser Solutions, a TT company, market participants employ a wide range of sophisticated transaction cost analysis (TCA) products and services across global equities, foreign exchange, futures, fixed income and options.

In June, the firm launched TT Trade Surveillance, a multi-asset trade surveillance solution combining new multi-asset coverage and dozens of new configurable models to supplement the machine learning-driven models from TT Score, the company’s first-generation trade surveillance platform. TT Trade Surveillance provides enhanced trade surveillance capabilities to a wide range of asset classes, including futures, equities, equity options, fixed income and foreign exchange (FX). The system has also recently added a new, innovative way to identify cross-product manipulation, where users can input correlated instruments directly into the user interface to create a single synthetic instrument, and utilize the machine-learning spoofing models to identify patterns of spoofing activity across multiple order books.

With this recognition, TT has now been honored globally and regionally 14 times this year for the TT platform, trade surveillance capabilities, algorithmic trading solution, TCA tool, execution management system (EMS), order management system (OMS) and market data services.

About Trading Technologies

Trading Technologies (www.tradingtechnologies.com) is a Software-as-a-Service (SaaS) technology platform provider to the global capital markets industry. The company’s award-winning TT® platform connects to the world’s major international exchanges and liquidity venues in listed derivatives alongside a growing number of asset classes, including fixed income, foreign exchange (FX) and cryptocurrencies. The TT platform delivers advanced tools for trade execution and order management, market data solutions, analytics, trade surveillance, risk management, clearing, post-trade allocation and infrastructure services to the world’s leading sell-side institutions, buy-side firms and exchanges. The company’s blue-chip client base includes the Tier 1 banks as well as brokers, money managers, hedge funds, proprietary traders, Commodity Trading Advisors (CTAs), commercial hedgers and risk managers. These firms rely on the TT ecosystem to manage their end-to-end trading operations. In addition, exchanges utilize TT’s technology to deliver innovative solutions to their market participants. TT also strategically partners with technology companies to make their complementary offerings available to Trading Technologies’ global client base through the TT ecosystem.

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SOURCE Trading Technologies

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Allo Secures $100 Million in Debt Financing to Expand Bitcoin-Backed Lending Platform

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DUBAI, UAE, Dec. 23, 2024 /PRNewswire/ — Allo.xyz, a platform for real-world asset (RWA) tokenization and lending, has successfully secured a $100 million Bitcoin-backed credit facility. This landmark credit facility will further enhance Allo’s BTC-backed lending services, catering to institutional and individual participants eager to engage in the growing crypto lending market.

Bolstering its position in the Bitcoin ecosystem, Allo has staked over 544 BTC (valued at $50M+) through the Babylon Bitcoin Staking Protocol. This positions Allo as a key player in enabling Bitcoin-secured networks, with its BTC staking solution minting the $alloBTC token featured prominently on DeFiLlama

The financing round, facilitated by a consortium of lenders including Greengage and a long-standing US institution, reflects rising demand for Bitcoin-secured lending solutions as Allo continues to bridge traditional finance with blockchain technology. Sean Kiernan, CEO of Greengage, expressed his enthusiasm: “We’re excited to support this much-needed new venture and look forward to seeing great things to come.”

Allo’s growth trajectory is underscored by its inclusion in the Binance Labs and BNB Chain MVB Accelerator program, securing up to $750,000 in investment. Allo is also gearing up to launch its native $RWA cryptocurrency, adding new utility to its ecosystem. Additionally, Allo has also made strides in tokenizing real-world assets, with over $2.2 billion in Total Value Locked (TVL) across various assets on the BNB Chain. Allo’s innovative onchain RWA fund solution allows anyone to create funds in under 60 seconds, opening new opportunities for asset management.

Addressing the $900 trillion real-world asset opportunity, Allo continues to pioneer tokenization solutions that seamlessly integrate traditional and digital finance. The company has also secured a $50 million term sheet for lending against SpaceX stock, enabling efficient borrowing solutions for private market shareholders.

Allo’s achievements have garnered recognition, including acceptance into the Qatar Financial Center Digital Asset Lab, underscoring the platform’s commitment to regulatory compliance and technological advancement. With strategic partnerships across the ecosystem—including BNB Chain, Binance Labs, Cobo,  Babylon, and Chainlink—Allo is supported by a robust network of industry leaders.

Allo’s experienced team, boasting over 60 years of combined expertise in cryptocurrency and real-world assets, remains dedicated to unlocking new opportunities and driving innovation in the decentralized financial ecosystem.

For more information, visit Allo.xyz.

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