Market Scope
The global Nanoelectromechanical Systems Market share is expected to grow from USD 32.14 million in 2018 to USD 141.51 million by 2024. It can exhibit a CAGR of 28.1% during the forecast period. Investments in life sciences and technology are estimated to drive overall market demand significantly. Emphasis on precision in microscopes for accelerating research is a prime example. In 2019, Swerim AB invested close to USD 1 million for upgrading its high-resolution scanning electron microscope. Huge demand for nano surgical tools for diagnostics and surgery can bode well for the market. They can overcome challenges of inefficiencies of existing medical equipment and high maintenance costs.
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Regional Analysis
North America is expected to dominate the Nanoelectromechanical System Industry Size during the forecast period due to the presence of global players in the region. Increasing adoption of latest technologies such as deep learning, artificial intelligence, machine learning, and IoT, and developments in nanotechnology is expected to drive the NEMS market in North America.
Asia Pacific is expected to showcase the highest CAGR during the forecast period due to the presence of automotive and electronic manufacturers. Smart city initiatives proposed by governments and modernization efforts can also drive the NEMS market in the region. Deployment of advanced technologies in Japan, India, and China and the region being a hub of consumer electronics manufacturers can elevate the market to new heights.
The Europe nanoelectromechanical systems market Size is projected to expand owing to industrial collaborations and applications of carbon nanotubes in commercial applications. Rising demand for wearables and other consumer electronic products can drive the regional market demand.
Competitive Outlook
Agilent Technologies Inc., Showa Denko K.K., Broadcom Corporation, Bruker Corporation, Applied Nanotools Inc., Inframat Advanced Materials LLC, Analog Devices, Inc., Nanocyl SA, and Asylum Research Corporation are key players of the global NEMS market.
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