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Laboratory Informatics Market worth $8.7 billion by 2029 driven by Emerging Tech Innovations | MarketsandMarkets™

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CHICAGO, Aug. 23, 2024 /PRNewswire/ — The global Laboratory Informatics Market is valued at an estimated USD 5.3 billion in 2024 and is projected to reach USD 8.7 billion by 2029 at a CAGR of 10.4% during the forecast period. The laboratory informatics industry is poised for significant growth in emerging economies such as China, India, Japan, Singapore, Brazil, and the Middle East due to increasing adoption of cloud-based models driven by growing data volumes in laboratories and reduced ownership costs. For example, Revvity, Inc. recently launched the Signals Research Suite, a cloud-based SaaS platform integrating various applications to streamline the drug development process. However, challenges such as technical expertise gaps and interoperability issues remain. The market is buoyed by the rising need for laboratory automation to address staff shortages and enhance precision, regulatory compliance pressures, and the growing demand for real-time data analytics. Despite these opportunities, high implementation and maintenance costs, particularly for small and mid-sized laboratories, could hinder growth. The lab informatics ecosystem encompasses a diverse range of stakeholders including investors, academic researchers, government bodies, and various industries such as pharmaceuticals, biotech, and environmental testing. In 2023, North America led the market, driven by high healthcare spending, technological advancements, and a competitive environment fostering innovation. Key market players include Thermo Fisher Scientific, LabVantage Solutions, Agilent Technologies, and others, with the Software-as-a-Service (SaaS) model and biobanks & biorepositories showing notable market shares.

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Thermo Fisher Scientific Inc.: Leader in Laboratory Informatics

Thermo Fisher Scientific Inc. (US) is a global leader in laboratory informatics. The company offers a comprehensive range of products and services, including LIMS, enterprise data and workflow connectivity, chromatography data systems, inventory and asset management, and laboratory automation solutions. Additionally, Thermo Fisher provides services such as validation, consulting, test development, and validation training, as well as cloud services and product support. The company serves diverse sectors including Pharma/Biotech, QA/QC, Oil and Gas, Metals and Mining, Forensic Testing, Water and Environmental Testing, and Food & Beverage Testing. In November 2023, Thermo Fisher and Flagship Pioneering (US) expanded their partnership to create new platform companies focused on advancing biotech tools and pioneering therapies. With a presence across the Americas, APAC, and EMEA regions, Thermo Fisher continues to lead through innovation and strategic collaborations.

LabVantage Solutions, Inc.: Key Player in Laboratory Informatics

LabVantage Solutions, Inc. (US) is a significant player in the global laboratory informatics market. The company offers an extensive suite of products and services, including LIMS, electronic lab notebooks (ELN), and business intelligence solutions such as Laboratory Execution Systems and Scientific Data Management Systems. LabVantage caters to sectors like Pharma & Biotech, Biobanking, Diagnostics, Food & Beverage, Oil & Gas, Contract Testing, Cancer Research, Public Health Labs, Consumer Packaged Goods, Forensic, and Government. The company’s commitment to growth is evident in its strategic acquisitions and technology integrations, such as the May 2024 acquisition of SEIN Infotech in South Korea, which enhanced its EHS management solutions. LabVantage’s global footprint includes offices in the Americas, Europe, Asia Pacific, the Middle East, and Africa, reflecting its ongoing dedication to innovation and market leadership.

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Deployment Segment: Cloud-Based Solutions Lead Laboratory Informatics Market

The laboratory informatics market is segmented into on-premise and cloud-based solutions. In 2023, the cloud-based segment emerged as the fastest-growing category. This growth is driven by the benefits of cloud-based models, including data accessibility from any location, automatic data backups, and the ability to serve global laboratories. Additionally, cloud-based solutions are more user-friendly, as they are managed by third-party providers, whereas on-premise solutions require VPNs or physical presence in the lab for accessing critical information. Key players are also focusing on cloud-based solutions to meet modern user demands. For example, in April 2024, STARLIMS launched Advanced Analytics 2.0, a cloud-based SaaS solution designed to enhance data-driven decision-making in laboratory operations.

Component Segment: Services Dominate Laboratory Informatics Market

The laboratory informatics market is divided into software, services, and support components. In 2023, the services segment held the largest share. This segment’s growth is attributed to enhanced security, cost-effectiveness, usability, flexibility, and integration capabilities. The increasing user base and evolving needs for comprehensive solutions and support contribute to high demand for services such as modifications, implementation, and consulting.

Regional Insights: North America Leads Laboratory Informatics Market

By region, North America holds a significant share of the laboratory informatics market. The region’s growth potential is fueled by high per-capita healthcare expenditure and advanced technological innovations in laboratory systems, including ERP and CDS integration. North America’s developed infrastructure, coupled with rising demand for digital technologies like AI, ML, and cloud computing, drives the adoption of analytical solutions across various industries. Additionally, the region’s access to advanced healthcare facilities and the growing number of biobanks further support market growth.

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XLCS Partners advises Concurrent Utility Services on sale to UniTek Global Services

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July 23, 2026

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NASHVILLE, Tenn., July 23, 2026 /PRNewswire/ — XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce that it served as exclusive M&A advisor to Concurrent Utility Services LLC on its acquisition by UniTek Global Services, Inc., a portfolio company of New Mountain Finance Corporation (Nasdaq: NMFC) and its affiliates, and BTG Pactual Strategic Capital.

Headquartered in Miami, Florida, Concurrent is a licensed general and electrical contractor providing infrastructure development and maintenance services to electric utilities, telecom providers, and land developers throughout the Southeast United States. The company’s capabilities span overhead and underground utility construction, professional telecom services, emergency service restoration, in-building networks, environmental services, and data center development. Backed by a safety-first culture and an experienced workforce, Concurrent has built a strong regional platform and a reputation for quality across the markets it serves.

UniTek is a leading digital infrastructure services provider supporting the expansion of fiber and data center connectivity across the U.S. and Canada. With over 600 employees and 60 locations, UniTek delivers a full suite of infrastructure services. The acquisition of Concurrent accelerates UniTek’s Power Services Division, which launched in July 2025 to broaden the company’s maintenance, repair, upgrade, and new infrastructure development services for the power sector. Concurrent’s established Southeast footprint and power capabilities directly complement UniTek’s existing broadband and data center infrastructure platform, positioning the combined company to capitalize on growing demand for resilient, modernized power infrastructure. Concurrent will continue to operate under its established brand, maintaining uninterrupted service for its customers.

“Selling Concurrent was one of the biggest decisions of my career, and Anthony, Jay, and the XLCS team guided us through every step with professionalism and genuine care for our people,” said Steve Sarno, CEO of Concurrent. “They stayed fully engaged throughout, gave us honest and thoughtful advice, kept our best interests front and center, and delivered an outcome that exceeded our expectations. I would recommend them without hesitation to any owner considering a transaction.”

XLCS acted as the exclusive M&A advisor to Concurrent, and the transaction was led by Anthony Contaldo, Partner, and Jay Cremer, Vice President. The transaction was completed on July 1, 2026.

About XLCS Partners, Inc.

XLCS Partners is a leading global investment banking firm providing M&A advisory services. Visit www.xlcspartners.com for more information.

Media Contact: 
Kendra Span 
kspan@xlcspartners.com
615-379-7783

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SOURCE XLCS Partners, Inc.

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XLCS Partners advises Concurrent Utility Services on sale to UniTek Global Services

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3 minutes ago

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July 23, 2026

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NASHVILLE, Tenn., July 23, 2026 /PRNewswire/ — XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce that it served as exclusive M&A advisor to Concurrent Utility Services LLC on its acquisition by UniTek Global Services, Inc., a portfolio company of New Mountain Finance Corporation (Nasdaq: NMFC) and its affiliates, and BTG Pactual Strategic Capital.

Headquartered in Miami, Florida, Concurrent is a licensed general and electrical contractor providing infrastructure development and maintenance services to electric utilities, telecom providers, and land developers throughout the Southeast United States. The company’s capabilities span overhead and underground utility construction, professional telecom services, emergency service restoration, in-building networks, environmental services, and data center development. Backed by a safety-first culture and an experienced workforce, Concurrent has built a strong regional platform and a reputation for quality across the markets it serves.

UniTek is a leading digital infrastructure services provider supporting the expansion of fiber and data center connectivity across the U.S. and Canada. With over 600 employees and 60 locations, UniTek delivers a full suite of infrastructure services. The acquisition of Concurrent accelerates UniTek’s Power Services Division, which launched in July 2025 to broaden the company’s maintenance, repair, upgrade, and new infrastructure development services for the power sector. Concurrent’s established Southeast footprint and power capabilities directly complement UniTek’s existing broadband and data center infrastructure platform, positioning the combined company to capitalize on growing demand for resilient, modernized power infrastructure. Concurrent will continue to operate under its established brand, maintaining uninterrupted service for its customers.

“Selling Concurrent was one of the biggest decisions of my career, and Anthony, Jay, and the XLCS team guided us through every step with professionalism and genuine care for our people,” said Steve Sarno, CEO of Concurrent. “They stayed fully engaged throughout, gave us honest and thoughtful advice, kept our best interests front and center, and delivered an outcome that exceeded our expectations. I would recommend them without hesitation to any owner considering a transaction.”

XLCS acted as the exclusive M&A advisor to Concurrent, and the transaction was led by Anthony Contaldo, Partner, and Jay Cremer, Vice President. The transaction was completed on July 1, 2026.

About XLCS Partners, Inc.

XLCS Partners is a leading global investment banking firm providing M&A advisory services. Visit www.xlcspartners.com for more information.

Media Contact: 
Kendra Span 
kspan@xlcspartners.com
615-379-7783

View original content to download multimedia:https://www.prnewswire.com/news-releases/xlcs-partners-advises-concurrent-utility-services-on-sale-to-unitek-global-services-302833542.html

SOURCE XLCS Partners, Inc.

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Fathom Applauds Introduction of the FRONTIER Act, the First Federal Blueprint for Independent AI Verification

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July 23, 2026

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Reps. Lori Trahan (D-MA-03) and Jay Obernolte (R-CA-23) introduce a bill to build a competitive marketplace of independent verifiers for frontier AI models.

WASHINGTON, July 23, 2026 /PRNewswire/ — Fathom welcomes the introduction of the FRONTIER Act, the most complete federal framework yet for independent, third-party verification of frontier AI. The legislation is built to earn public trust as AI technology continues to accelerate. As frontier systems begin to take autonomous action in the world, the gap between what these models can do and our ability to keep them in check is widening. FRONTIER is the starting point to close that gap.

“AI governance keeps running into the same wall. The technology is hard to measure and it moves faster than any law can keep up with,” said Andrew Freedman, Co-Founder and CEO of Fathom. “Trying to write the perfect rules and freezing them in place won’t work. What will work is a competitive market of independent verifiers who are accountable for real-world outcomes and who the government can actually count on. The FRONTIER Act shows we can move fast and still get this right.”

The bill gets the fundamentals correct. It sets one public standard – the adequate mitigation of catastrophic risk – and holds both the AI companies and their independent verifiers accountable to it. FRONTIER does not freeze a single testing method into statute. Instead, it licenses competing verification organizations, allows them to sharpen their methods, and gives the government the power to revoke a license when a verifier’s work does not hold up in the field. That is how you build a system that keeps pace with the science instead of falling behind it.

Fathom thanks Reps. Trahan and Obernolte for their leadership, and for their courage in releasing a discussion draft, inviting scrutiny, and incorporating substantive improvements from across the field. One priority improvement as the bill advances: giving the government a fuller range of tools to act upstream – for pushing companies to close identified gaps in risk mitigation early, rather than only once a catastrophe is imminent. We are committed to working with these sponsors, committees of jurisdiction, and Congressional leadership to continue refining the bill in the weeks and months ahead.

About Fathom
Fathom is an independent nonprofit whose mission is to build a governance architecture that helps society navigate the transition to a world with AI by fostering trust, safety, and innovation. Fathom has developed and championed the independent verification model for AI and works with policymakers across the country to put it into practice. Learn more at http://fathom.org.

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SOURCE Fathom AI Inc.

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