September 13, 2017
WELLESLEY, Mass., Sep 13, 2017 — The global nanoelectromechanical systems (NEMS) market is predicted to boom with a 37.4% CAGR through 2021. The increasing demand for precision microscopes and electronics with higher functionality and the rapidly transforming communication industry, along with a surging demand for BioNEMS, are galvanizing the market's growth, says a new BCC Research report. BCC Research estimates the global NEMS market to reach $55.4 million by 2021, up from $11.3 million in 2016.
Other factors driving the market's swift growth include demand for monitoring and detection techniques, emphasis on miniaturization of devices to serve multiple purposes and the automotive industry's changing standardizations, according to BCC Research's September report, Applications and Global Markets for Nanoelectromechanical Systems, as companies try to reduce the size from micro to nano through ongoing research and continuous advancements, this technology is expected to churn big demand.
A key application of NEMS is atomic force microscope (AFM) tips. The increased sensitivity achieved by NEMS leads to smaller and more-efficient sensors to detect stresses, vibrations, forces at the atomic level and chemical signals. AFM tips and other detection at the nanoscale rely heavily on NEMS.
In the semiconductor market, more transistors are being packaged into each device to impart higher functionality, but space constraints have created limitations. NEMS offers solutions to such problems. Thus, NEMS is expected to emerge as an enabling technology that merges life sciences with engineering, which is further expected to open new opportunities in the coming years.
"The NEMS market remains in a nascent stage, so competitive rivalry among the existing market players is moderate," says BCC Research analyst Rakesh Singh, who authored the report. "Manufacturers are adopting a core business strategy of forming strong partnerships with leading equipment manufacturers. Competition should continue to grow over the forecast period due to the emergence of several advanced NEMS and the growing awareness concerning NEMS benefits."
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at email@example.com.
Applications and Global Markets for Nanoelectromechanical Systems (NEMS)( IAS114A )
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email firstname.lastname@example.org or visit www.bccresearch.com/media to request access to our library of market research.