Future Prospects of Global Laboratory Proficiency Testing Market

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Laboratory Proficiency Testing Market  The global Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Laboratory proficiency testing involves evaluating the performance of laboratories for a given scope of testing through inter-laboratory comparisons. It helps assess the quality and competence of laboratories by determining reproducibility and accuracy of test results. Proficiency testing products are used by laboratories to determine method validity and accuracy, and improve testing processes. Market Key Trends: One of the major trends in the laboratory proficiency testing market is the growing number of accredited medical laboratories. Accreditation assures compliance with ISO 15189 and ISO/IEC 17025 standards, which require participation in proficiency testing programs. Acc...

5G Smartphone Market Projection period and impact of Covid-19 Pandemic

A smartphone is a mobile phone with advanced features and capabilities in addition to standard functions such as texting and making phone calls. Users using fifth-generation smartphones may connect to high-speed networks and have a better data-transfer experience. Furthermore, 5G devices offer high bandwidth and low latency, which can improve user experience in areas such as online video streaming and seamless video calling, as well as virtual and augmented reality gaming. During the projected period, the availability of 5G smartphones with reduced power consumption is likely to fuel market growth. Furthermore, rising disposable income and the adoption of IoT-connected devices are likely to propel market expansion throughout the forecast period.

The Impact of the Covid-19 Pandemic on the 5G Smartphone Market

COVID-19 has infected people in a number of countries, prompting governments to impose a nationwide lockdown to prevent the sickness from spreading. The epidemic has also hampered the growth of the 5G smartphone Market. The COVID-19 pandemic is likely to have an influence on the market for electronics equipment, including consumer and industrial electronics. China is a key source of raw materials used in the production of electrical devices and finished goods. China's exports have dropped roughly 17% in the first two months of 2020 compared to the same period last year, according to figures issued by the Chinese customs agency. The electronics industry had been hit hard by production cuts, supply disruptions, and price swings. According to, unit shipments decreased by 15.5 percent year over year, from 335.8 million in 2019 to 269.7 million in 2020. Sales of electronics businesses have decreased as a result of COVID-19, resulting in a decrease in manufacturing and demand for 5G smartphones.


5G Smartphone Market
5G Smartphone Market


The android sector is predicted to drive market growth throughout the projection period, based on operating system

Because of the low cost, ease of use, long-lasting battery, and other benefits of android-enabled 5G smartphones, the android segment is likely to keep a leading position in the global 5G smartphone market during the projection period. These devices have a higher favour among consumers due to their ease of use and lighter weight. Furthermore, the latest Android mobile devices can multitask and have sensors and fingerprint security capabilities, giving them an advantage over other operating systems. Various free programmes, such as Whatsapp, Netflix, and others, are also included with Android 5G handsets.

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