Nanotechnology Market Future Growth, Forecast, Business Opportunities, Overview and Key Companies Analysis by 2030

Nanotechnology Market Size – USD 2.4 Billion in 2021, Market Growth – at a CAGR of 34.0%

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The global nanotechnology market size reached USD 2.4 Billion in 2021 and is expected to register a revenue CAGR of 34.0% during the forecast period, according to latest analysis by Emergen Research. Nanotechnology market revenue growth is driven by increasing demand for miniature devices, advancements in technology, and rising investment in research & development by manufacturers for development of miniature technological devices. Nanotechnology is expected to transform the way energy is obtained and used, and will make solar power more economical by reducing manufacturing cost of solar panels and related equipment and systems.

Nanotechnology finds application in treatment of cancer as well as offers high potential for new and faster computers, life-saving medical treatments, and an efficient power source. Economic disruption and possible threats to privacy and security are some of the potential disadvantages of nanotechnology. Concerns regarding the effects of nanotechnology on health, environment, and safety are some key factors hampering its adoption.

Key Highlights

Nanomaterials segment accounted for largest revenue share in 2020 as application of this technology spans various industries. The environment preservation processes use nanomaterials to make nanowires which are used in solar cell and for the treatment of polluted water.

Nanosensors segment is expected to account for largest revenue share during the forecast period. Nanosensors find application in various end-use industries such as precision agriculture, medical technology, urban farming, prognostics, plant nano bionics, diagnostics, and many others.

Food safety segment is expected to register rapid growth rate during the forecast period. Food safety is a major concern worldwide, and requires stringent testing and monitoring solutions to ensure consumer safety. Changing food habits and increasing number of mass catering establishments globally, and globalization of food supply chains are factors driving need for need to adopt more advanced sensing technologies.

Asia Pacific registered the fastest revenue share growth rate in 2020 due to increased application of nanotechnology by China. Rapid development of nanotechnology-based science and technology in China has attracted global attention. China has invested majorly in the technology in the past decade, and this has been one of the key areas of focus in long-term scientific programs between 2006 and 2020.

Competitive Landscape:

The global nanotechnology market is consolidated, with few small- and medium-sized players accounting for majority revenue share. Established companies are engaged in various research and development activities and initiatives to develop and deploy new and more efficient technologies and solutions in the nanotechnology market. Some prominent players operating in the market are: Fujitsu laborato ries, Ltd, Bayer Material Science, Ademtec, GE Healthcare, IBM research, Hewlett-Packard, Intel, Altair Nanotechnologies Inc, Cypress Semiconductor and Cortex Biochem.

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