PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1057420
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1057420
The global Nanoelectronics market was valued at USD 1,800.5 Million in 2020, growing with 31.8% CAGR during the forecast period, 2021-2027.
Electronic components that employ nanotechnology are defined as nanoelectronics, and nanoelectronic materials and devices are diverse. They can be either one-dimensional nanotubes/nanowires, advanced molecular electronics, or hybrid molecular/semiconductor electronics. Computer processors are made more powerful through the use of these devices than by making them themselves.
The growth of the Nanoelectronics industry is mainly due to the advancements in technology, increased government and private sector funding, and miniaturization of devices, as well as strategic alliances among countries. As chronic diseases and an aging population increase, this market is also influenced by its wide application in the biomedical sector. Nanotechnology Used in electronic components utilizing technology, smart mobile penetration, and Internet of Things adoption have also positively impacted nanoelectronics evolution. Nanotechnology commercialization is expected to encounter challenges related to environmental, health, and safety risks.
Further, COVID 19, the emerging pandemic virus that has limited the growth of the Nanotechnology industry in 2020 and is projected to remain limited till the end of 2021 as countries implement partial and complete lockdowns to limit the pandemic. Consumers and businesses around the globe are experiencing economic hardship and widespread concerns due to COVID-19's spread. Working from home and the "New Normal" have combined to create challenges with day-to-day activities, regular work, supplies, needs, and projects, causing late initiatives and missed opportunities. Due to the shutdown of manufacturing units in Europe, those countries have suffered a major loss of revenue and business. By 2020, there is expected to be a slowdown in the growth of the nanotechnology market analysis due to the spread of the COVID-19 disease.
The Nanoelectronics industry is segmented based on type, application, end-user, and region.
In terms of type, the global Nanoelectronics industry is divided into Carbon Nanotubes, Nanosilver Graphene, Nanofibers, Nanobuds, Nanowires, and Others. Among these, into Carbon Nanotubes type segment accounted for the highest market share in 2020. Growth is primarily due to increased application within lithium-ion batteries because of their high capacity and reversibility. In a wide variety of pharmaceutical and medical applications, carbon nanotubes are used because of their large surface area and ability to absorb and conjugate therapeutic and diagnostic agents, such as drugs, genes, vaccines, and biosensors.
Based upon the Application type, the global Nanoelectronics industry is fragmented into Coatings and Films, Displays, Data Storage and Processing, Electronic Packaging, and Others. Among these data storage and processing-based Applications, the segment has the highest market share in 2020, this is primarily due to mounting demand for managing the multiple businesses by the leading end-user companies including healthcare, automotive, and others around the world.
Further, in terms of end-user, the global Nanoelectronics industry is classified as Healthcare, Aerospace Automobile, Telecom, and Electronics. Among these electronics end-user segment has the largest market share in 2020, this is growing due to their extensive use in nanowires, spintronics, and quantum dots in nanoelectronics. On top of that, the electronics industry is likely to experience rapid growth in the forecast period as a result of high-tech product demand. For instance, in 2018, Osaka University researchers have created integrated gene logic chips called gene nanochips, which they created with the Tokyo Institute of Technology, Kyoto University, and Waseda University. Utilizing factors integrated into the nanochips, these self-contained nanochips can turn on or off genes simultaneously, preventing unintended crosstalk.
The global Nanoelectronics industry is majorly diversified with the existence of many companies contending for seizing market share in the industry. Major players operating in this industry include Everspin Technologies Inc., IBM, Buhler, HP Development Company L.P., PARTEC GmbH, Robert Bosch GmbH, STMicroelectronics, Intel Corporation, Koninklijke Philips N.V, Siemens AG, Hewlett-Packard Development Company, L.P., Infineon Technologies AG, Everspin Technologies Inc, and OD Vision.
Customers' needs are met by using customized products and services developed by participants. Leading players have been using a variety of business strategies to stay competitive, including expanding their businesses, collaborating, acquiring companies, and developing applications. To explore the manufacturing of electronic devices, photonic devices, and sensors incorporating graphene and layered nanomaterials in the region, the European Commission has established a new USD 23.0 million collaborative project, the 2D-Experimental Pilot Line (2D-EPL).
The scope of this report covers the market by its major segments, which include as follows:
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