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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Facial Recognition System Market Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

 

Facial Recognition System Market
Facial Recognition System Market

The facial recognition market has a lot of space for growth on a worldwide basis. Facial recognition provides a high level of security in both the public and private sectors. Terrorist attacks on government institutions have increased dramatically in recent years, pushing corporations and governments to implement facial recognition biometrics. Furthermore, due to growing applications in physical security and intelligent signage, as well as technological advancements such as cloud-based services and 3D-based recognition systems, the use of facial recognition has risen.

However, increased sensitivity to shared personal data, a lack of accuracy, and a high implementation cost are hindering industrial advancement in some locations. Face recognition systems with sophisticated technology and applications in mobile security and drones are expected to give attractive prospects in the future for the facial recognition industry.

Because of the necessity to combat terrorism and crime, facial recognition System Market is widely employed in security and law enforcement applications. For example, in the United States, 26 states allow law enforcement authorities to use face recognition technologies to scan databases of ID photos and driver's licences for drug dealers, bank robbers, and others who have posted images on social media sites. Furthermore, facial recognition CCTV systems are being used to increase performance in public security missions like locating missing children or adults, identifying and tracking criminals, and speeding up investigations. In addition, the KYC (Know-Your-Customer) movement has surely aided the expansion of facial recognition System Market.

To improve consumer experience, facial recognition technology is being coupled with the latest marketing innovations. Sberbank, a Russian bank, is increasing its footprints in food delivery, taxi services, cloud computing, and cybersecurity in April 2021, for example. For this, the company introduced face pay, which allows customers to pay utilising the at-a-glance pay option during checkout. As a result, compared to paying with cash or a credit card, it provides a faster payment option. As a result, other sectors, such as security and surveillance, healthcare, retail, and transportation, have a lot of potential. For example, in June 2019, Ayonix Corporation launched the AICam Platform, an IP camera-embedded application. The application is capable of doing high-speed face detection and matching. The company showed off this solution at ISC West, an annual security technology conference.

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Future Prospects of Global Laboratory Proficiency Testing Market

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