Nanoelectromechanical Systems Market To Record Growth, Revenue To Reach Nearly US$ 102.03 Mn By 2022
With the presence of a large pool of participants, the global nanoelectromechanical systems market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Agilent Technologies Incorporation, Robert Bosch, Texas Instruments, Bruker Corporation, and Sun Innovation Incorporation are some of the key vendors of nanoelectromechanical Systems across the world. These players across nanoelectromechanical systems market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the nanoelectromechanical systems market study.
For instance, in July 2018, team of researchers at Massachusetts Institute of Technology and Institute of Physics combined developed a new technique based on kirigami principles—a conventional art of paper folding & cutting—for fabricating new 3D Nano equipment for handling light. Reportedly, the researchers believe that the new technique can provide a smart 3D nanofabrication procedure as compared to more conventional bottom-up, self-assembly nanofabrication, and top-down methods.
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As estimated in this report, the global nanoelectromechanical systems market stood at US$ 23.20 million in 2016. Witnessing a tremendous rise during the period from 2016 to 2022, the revenue in this nanoelectromechanical systems market is expected to reach US$ 102.03 million by the end of the forecast period. The main products available in this nanoelectromechanical systems market are graphene nanotubes, nanobelts, nanofilms, and nanowires.
Thriving Consumer Electronic Devices Sector To Impel Market Growth
“Rising acceptance of new technology in consumer electronic equipment such as smartphones, wearable devices, and tablets are anticipated to augment nanoelectromechanical systems market size in the years ahead,” says the author of this nanoelectromechanical systems market study. Apart from this, launching of new technologies and growing investments in the nanotechnology domain is projected to boost nanoelectromechanical systems industry trends in the near future.
Insufficient mass production systems for nanoelectromechanical systems-based equipment along with escalating costs of nanoscale parts, however, can hinder the nanoelectromechanical systems market growth over the years to come. Nonetheless, the flourishing trade & commerce activities across BRICS countries are likely to produce new opportunities for nanoelectromechanical systems industry over the next few years, thereby normalizing the impact of hindrances on the nanoelectromechanical systems market, reports the nanoelectromechanical systems market study.
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Extensive R&D & Infrastructural Growth To Support APAC’s Regional Dominance
Regionally, Asia Pacific has been leading the worldwide nanoelectromechanical systems market revenue and is anticipated to continue on the dominant position in the years to come, states the nanoelectromechanical systems market study. The vast amount of research carried in the field of Science & Technology along with large infrastructural development observed in countries such as India, Japan, and China is the main factor behind the dominance of the Asia Pacific nanoelectromechanical systems industry. The high number of market players being headquartered in Asia Pacific is another significant factor that is supporting the growth of this regional nanoelectromechanical systems market.