Embedded Sensors are fastest growing segment fueling the growth of Electronic Lab Notebook Market

Global Electronic Lab Notebook Market Size
Global Electronic Lab Notebook Market Size


 
Electronic lab notebooks (ELNs) are software tools that are used to maintain electronic records of laboratory experiments and analyses digitally. ELNs offer advantages like secure data storage, centralized information access, compliance with regulatory guidelines. They help researchers in keeping track of protocols, data reporting and collaborate more efficiently.

 

The global Electronic Lab Notebook Market is estimated to be valued at US$ 442.68 Mn or Million in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.



Market key trends:
One of the key trends in the electronic lab notebook market is the integration of sensors. Embedded sensors allow researchers to record experimental parameters like temperature, pressure directly into the ELN from analytical instruments. This facilitates capture of real-time experimental data and reduces manual transcription errors. Sensors integrated with ELNs provide automated documentation and help improve productivity of R&D processes.
Segment Analysis
The electronic lab notebook market is dominated by the research and development segment. It accounts for over 60% of the global market share due to extensive adoption of electronic lab notebooks in research organizations and pharmaceutical companies for new drug development processes. The electronic lab notebooks help in maintaining documentation, improving collaboration between researchers, and ensuring data integrity during long drug development cycles.

Key Takeaways
The Global Electronic Lab Notebook Market Size is expected to witness high growth, exhibiting a CAGR of 8.5% over the forecast period, due to increasing demand for data integrity and collaboration in research processes.

Regional analysis - North America holds the highest share in the electronic lab notebook market currently. The presence of prominent life science firms and research organizations is driving the use of electronic lab notebooks in the region. Asia Pacific is expected to grow at the fastest pace during the forecast period due to rising research activities in countries like China and India.

Market size - The global electronic lab notebook market size was valued at US$ 442.68 Mn in 2023 and is expected to reach over US$ 800 Mn by 2030 as electronic lab notebooks provide benefits like data security, compliance with regulatory guidelines, and improved collaboration for life science organizations.

Key players - Key players operating in the electronic lab notebook market are DASSAULT SYSTEMES SA, Arxspan LLC., LabArchives, LLC, Abbott Informatics Corp., PerkinElmer, Inc., LabWare, Inc., Bruker Corporation, ID Business Solutions Ltd., and Kinematik US & Inc. These players are focusing on new product launches and partnerships with research institutes to gain higher market shares.

 

Explore more information on this topic @ https://www.ukwebwire.com/electronic-lab-notebook-market-scope/

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