Nanoelectromechanical systems (NEMS) are an integration of components on a silicon substrate at a nanoscale. The components are electronics, sensors, actuators, and mechanical elements. Miniaturization of consumer electronic components is key in driving the manufacture of NEMS. Market Research Future’s report on the global nanoelectromechanical systems market provides a comprehensive outlook on the industry for the period of 2019 to 2024 (forecast period) while considering the drivers, challenges, opportunities, and trends during the COVID-19 pandemic.
Market Scope
The global nanoelectromechanical systems market 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.
Regional Analysis
North America is expected to dominate the NEMS market 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.
The Europe nanoelectromechanical systems market 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.
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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.
