Market Overview:
The global Nanosensors market is growing pervasively; mainly due to the burgeoning automotive industry. According to a recent study report published by the Market Research Future (MRFR), the booming global Nanosensors Market is expected to gain prominence over the forecast period. The Market is forecasted to demonstrate a colossal growth by 2027, with a staggering CAGR during the anticipated period (2017 – 2027), surpassing its previous growth records in terms of value.
The Automotive and Healthcare industry predominantly drives the market. In automotive, NANO Sensors facilitate improved redundancy, enhance ergonomics, and improve fuel efficiencies of vehicles.
In Healthcare sectors NANO Sensors are useful in detecting biotoxins like anthrax, smallpox, etc. NANO Sensors in the biomedical sector enable detection of chronic and deadly diseases like cancer, heart diseases, and radioactive substances.
Therefore, these two industries (automotive and healthcare) generate a heightened demand for the Nanosensors currently, and the demand is expected to upsurge further during the forecast period. Additionally, attributed to its scalability; NANO Sensors are widely adopted across sectors such as aerospace, biomedical, home security, military, environmental, automotive, food, sports, and auto parts industries just to name a few.
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The widespread adoption and demand is in turn, fosters the market growth of NANO Sensors to a large extent. Moreover, augmented uptake and demand for NANO Sensors in military and homeland security is providing impetus to the market growth. On the other hand, skepticism of end-user consumers towards the uptake of embryonic technology coupled with the risk of failure of NANO Sensors may restrict its adoption further hindering the market growth.
The application of NANO Sensors in different areas of food packaging is a new trend that will further increase its prominence growing rapidly in the recent future. Advances in food safety have yielded promising results leading to the development of intelligent packaging. NANO Sensors Technology is making it possible to reach increasing food safety, a better quality control over foods and packaging, throughout the supply chain along with the improving pathogen detection time.
Key Players
The key players in the Nano sensors Market are- OMRON Corporation (Japan), Oxonica (U.S.), Texas Instruments Inc. (U.S.), Analog devices Inc. (U.S.), Lockheed Martin Corporation (U.S.), Samsung Electronics Co. Ltd (Japan), Honeywell International Inc. (U.S.), Nanodevices Inc. (Finland), Micro-Tech Scientific Inc. (U.S.), Agilent (U.S.) among others.
Nano sensors Market – Segmentations
The global nano sensors market has been segmented based on type, technology, and application.
- By type, the nanosensors market has been segmented into Chemical and Bacterial, Optical, Synthetic, Electrochemical, and Mechanical.
- By technology, the nanosensors market has been segmented into wind turbines, hybridization technique, transcription mediated amplification (TMA), fuel cells, micro turbines, reciprocating engines, nanowires, and solar photovoltaic.
- By application, the nanosensors market has been segmented into robotics, healthcare, Nano electronics, military & surveillance, aerospace, food & beverage, automotive, and petroleum.
Nano sensors Market – Geographical Analysis
Region-wise, the nanosensors market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
Nano sensors are extensively used in military and homeland security applications in North America. Expanding defense budget in the region is a key growth enhancer of the North America nanosensors market. The healthcare sector also contributes significantly to the growth of the market. Moreover, the region spends substantially in R&D of nanosensors, which is likely to push the market forward. North America is estimated to account for the largest share of the market over the forecast period.
Europe follows North America closely and is the second most significant nanosensors market. The Europe nano sensors market is driven by the large-scale utilization of these devices by the automotive industry. Tighter automotive industry regulations and heightened demand for advanced automotive functionalities are driving the growth of the market.
The APAC nanosensors market is poised to showcase striking growth over the forecast period. Rapid industrialization is working in favor of market growth. The use of nanosensors is penetrating across diverse industries, which is providing a thrust to the growth of the market.
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Industry Updates
June 2019 – a nanosensor has been developed for pollution detection by researchers at Chalmer University of Technology. The technology is already in use in Western Sweden, and it is estimated that the nanosensor could soon be used in broader contexts. The nanosensor can be mounted onto an ordinary streetlight for its work.
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