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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.

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LYKSTAGE Launches Patented Video Platform That Pays Creators and Viewers — Now Live Across Five Countries

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MUMBAI, India, April 20, 2026 /PRNewswire/ — LYKSTAGE, a video-sharing platform owned by LYK Inc., a Delaware-based entity, and founded by New York-based entrepreneur Adris Chakraborty, is redefining how the creator economy works — with a patented monetization model no other platform can legally replicate.

Built by a technology team in India under Manhattan Tech Ventures, LYKSTAGE runs on a patented Watch-Time Monetization Model that fundamentally changes who earns from video content. Creators earn whenever their content’s watch time gets monetized — no subscriber minimums, no waiting periods, and no thresholds to cross before earning begins.

What makes the model unprecedented is that viewers earn too. Logged-in viewers are rewarded whenever their watch time gets monetized — when they watch content uninterrupted and the ad served during viewing is fully consumed. When that happens, the creator earns, the viewer is rewarded, and the platform earns. Every reward is funded by actual ad revenue — not venture capital subsidies. The model is entirely self-sustaining.

The platform serves both skippable and non-skippable ads, determined by an ad server algorithm that optimizes based on viewing patterns and content traction. For advertisers, impressions are served intelligently — matching the right ad format to the right moment, delivering higher completion rates and genuine attention.

LYKSTAGE is now live across five markets — India, the United States, the United Kingdom, Canada, and the UAE — and available on Samsung TV, LG TV, Roku, Apple TV, Android TV, Amazon Fire TV, desktop, mobile web, and native apps on both the App Store and Google Play Store.

Adris Chakraborty, a Kolkata-born Columbia Business School alumnus based in the US since 2003, co-founded Mediamorphosis Advertising & Technology Inc. in New York in 2006 with his spouse and business partner Poulami Mukherjee. The company expanded to the UK in 2012, followed by Manhattan Communications in India — building a multicultural advertising group spanning five countries with over 100 clients, providing LYKSTAGE with built-in advertiser relationships and market intelligence.

The platform has crossed over one million users across all markets, with more than 20,000 creators on board and growing across all five countries — achieved with minimal paid marketing.

LYKSTAGE is a transparent, patented system where the people who create the value are the ones who earn from it.

Sign up at:
Android – https://play.google.com/store/apps/details?id=com.lykstage.app
Apple – https://apps.apple.com/in/app/lykstage-video-streaming/id6754064834

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Towngas and Tencent forge strategic partnership to drive “Energy + Tech” smart digital transformation

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HONG KONG, April 20, 2026 /PRNewswire/ — The Hong Kong and China Gas Company Limited (Towngas) and Tencent have signed a strategic partnership agreement in Hong Kong. The two companies will collaborate extensively on unified cloud resource management, digital platform development, large artificial intelligence (AI) models and applications, customer engagement enhancement, and R&D tool synergy. Together, they aim to drive the smart digital transformation of the energy sector.

The partnership dates back to 2020, when Towngas Lifestyle, the extended business division of Towngas, first teamed up with Tencent Cloud. In 2021, Towngas Energy, the Group’s renewable energy arm, worked with Tencent Cloud to build a smart energy ecosystem, which currently supports over a hundred integrated energy projects for the business segment. In 2023, Towngas Lifestyle and Tencent Cloud entered into a comprehensive strategic partnership spanning cloud platforms, big data, AI, and customer engagement, delivering one-stop lifestyle solutions to 46 million household customers across Hong Kong and the Chinese mainland. This latest agreement marks a comprehensive, group-level strategic partnership between Towngas and Tencent. It is designed to pool their resources, achieve cross-divisional synergy, drive quality and efficiency gains, and accelerate AI innovation.

Over the past six years, this collaboration has yielded remarkable results. Powered by Tencent Cloud, Towngas Lifestyle has upgraded the digital foundation and driven application innovation for its Towngas Lifestyle Cloud (TLC) platform. Furthermore, leveraging Tencent Cloud’s TBDS (Tencent Big Data Suite), it built the Towngas Analytics Platform (TAP), which currently supports big data applications for over 70 affiliated city-gas companies as well as its Hong Kong operations.

In terms of AI applications, Towngas Lifestyle has capitalised on Tencent’s AI computing power and large model technology to launch innovative tools such as smart safety inspections and AI service agents, significantly boosting the efficiency of frontline staff at gas companies. To better serve its customers, the company has deeply integrated Tencent’s WeCom to improve customer outreach. On the R&D front, Towngas Lifestyle has widely adopted Tencent’s AI development tools to streamline workflows. Moreover, the partners have successfully replicated their mainland successes in Hong Kong, completing the cross-border deployment of the TAP platform and advancing the upgrade of the city’s business systems.

Mr Peter Wong Wai-yee, Managing Director of Towngas, said: “Tencent’s leading position in AI and digital technology is obvious to all. Since 2020, the two parties have established a strong partnership, expanding from Towngas Lifestyle’s extended business to cooperation on the smart energy platform for the renewable energy segment, and gradually extending from the mainland to Hong Kong. As an enterprise with a 164-year history, Towngas has grown to possess a customer base of over 120 million since entering the mainland gas utility business in 1994. Facing such a massive number of customers, data security is of paramount importance. How to build a secure and efficient system for management and service has become a critical issue for business development. We are confident in joining hands with Tencent to co-build a secure and efficient digital system, comprehensively elevate the customer service experience and operational efficiency, and jointly pioneer more possibilities for ‘Energy + Tech’.”

Mr Dowson Tong, Senior Executive Vice President of Tencent and CEO of Tencent Cloud and Smart Industries Group, stated that as a household brand in Hong Kong, Towngas’s “customer-centric” service philosophy aligns closely with Tencent’s corporate mission of “Value for Users, Tech for Good”. Over the past six years, Tencent has engaged in deep collaboration with multiple segments under Towngas, empowering businesses with technology to achieve precise operations. Tencent looks forward to taking this exchange as a new starting point, further consolidating the “Cloud + AI” technological foundation based on existing cooperation, and deeply integrating Tencent’s digital capabilities with Towngas’s rich application scenarios. Through technological innovation, the goal is to achieve better customer service delivery and enhance operational efficiency, exploring a new path to sustainable development for the smart upgrade of the energy industry while ensuring data security and user privacy.

Looking ahead, the two companies will continue to deepen their collaboration in migrating core businesses to the cloud, co-building digital platforms, deploying large models and AI applications, and enhancing customer engagement. This will not only deliver a superior experience for gas customers but also set a benchmark for the high-quality transformational development of the energy industry.

 

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DMEGC Solar Achieves EcoVadis Gold Medal, Underscoring Its Commitment to ESG Excellence

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JINHUA, China, April 20, 2026 /PRNewswire/ — On April 15, DMEGC Solar, a global leader in magnetic materials and renewable energy solutions, achieved a milestone breakthrough in sustainable development. With outstanding performance in environmental protection, social responsibility, and other key areas, the company earned a Gold Medal from the internationally recognized rating agency EcoVadis, scoring 82 points. This places DMEGC Solar in the top 3% of all rated companies worldwide, surpassing 97% of participants.

EcoVadis is a globally leading sustainability assessment platform, having rated over 150,000 companies across more than 250 industries and 185 countries. Its evaluation framework covers 21 indicators across four core themes: Environment, Labor & Human Rights, Ethics, and Sustainable Procurement. The platform aims to assess the sustainability performance and social responsibility of companies within global supply chains.

DMEGC Solar participated in the assessment at the group level rather than as a single factory, demonstrating outstanding strength across all four dimensions. In the Labor & Human Rights dimension, the company has established a comprehensive employee rights protection system, strictly implemented occupational health and safety standards, and promoted employee development and career growth, ranking in the top 1% of its industry.

In the Sustainable Procurement dimension, the company has built a full-chain green supply chain management mechanism, collaborating with core suppliers to create a “cooperative carbon reduction” ecosystem. Initiatives such as packaging material recycling, green electricity usage, and localized collaborative production have enabled a low-carbon, traceable supply chain, also ranking in the top 1% of the industry.

Coupled with strong performances in environmental governance and business ethics, the company achieved an impressive score of 82, surpassing 97% of evaluated companies and earning the Gold Medal. This distinction places DMEGC Solar at the top in the global solar module manufacturers to receive such recognition.

This Gold Medal rating will for sure strengthen the company’s competitiveness in overseas markets. On one hand, its industry-leading ESG performance helps meet policy requirements related to sustainable supply chains, enhancing both the premium pricing of its products in international markets and its ability to secure orders. On the other hand, this recognition will boost customer and partner trust in the company’s brand, supporting the expansion of market share for its core products—such as photovoltaic modules, residential energy storage systems, and magnetic materials—while consolidating its market leadership.

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