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...
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Battery Management System Market Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019 - 2027

 

Battery Management System (BMS) Market
Battery Management System Market

The other battery segment is expected to grow at the fastest rate during the forecast period. Flow batteries are suitable for applications such as renewable energy systems and UPS due to their high capacity and ability to withstand extreme temperatures. Despite the fact that nickel-metal batteries are secondary batteries that use environmentally friendly metals, they have a high energy density. These batteries are used in electric vehicles, portable devices, smart grids, UPS, and other applications. Solid-state batteries outperform conventional batteries because they are non-flammable, have a long shelf life, are safe, and produce a large amount of energy.

A battery management system is the brain that controls battery packs. It is an electronic system that controls and monitors battery charging and discharging and sends notifications about the status and condition of battery packs. Furthermore, one of the primary functions of a battery management system is to provide critical safeguards to protect batteries from damage. Two critical design issues exist in lithium-ion battery design. The first issue is that they can be damaged if overcharged, resulting in overheating, flames, and other problems. Furthermore, lithium ion batteries can be damaged if discharged below a certain threshold, which is approximately 5% of total capacity. If the batteries are allowed to discharge below this level, the battery may be permanently damaged.

The Battery Management System market for lithium-ion-based batteries is expected to grow at the fastest rate during the forecast period. The growing trend of battery-powered public transportation, as well as the high demand for battery management systems (BMS) from renewable energy storage system applications, are driving market growth. To protect and manage the battery pack, the battery management system is integrated with lithium-ion-based batteries. It is also compatible with lithium-ion batteries such as lithium polymer and lithium iron-phosphate, among others. These lithium-ion batteries are widely used in portable devices, electric vehicles, and renewable energy systems, among other things. The expansion of these applications fuels the market's expansion.

 

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