August 16, 2018
WELLESLEY, Mass., Aug 16, 2018 – With vast applications in end-user segments, including microelectronics, healthcare and life sciences, optoelectronics, information technology, process industry and other miscellaneous users, the global market for nanodevices and nanomachines is expected to possess significant growth potential in the coming years, according to a new report from BCC Research.
The total market for all nanomachine types was worth $670.0 million in 2017, and is expected to grow to $736.1 million in 2018. From 2018 to 2023, the market for nanodevices and nanomachines is expected to grow at a compound annual growth rate (CAGR) of 11.6%, reaching nearly $1.3 billion in 2023. By 2028, the market is anticipated to hit $2.7 billion, according to the recently published report Nanodevices and Nanomachines: The Global Market.
“The long-term market prospects for nanomachine development are favorable, barring another major global financial-economic crisis,” said BCC Research analyst Andrew McWilliams. “A growing awareness of the need for some regulation of nanomachines should not offset the favorable impact of large government and private investments in developing new nanotechnology applications.”
Strong Government Support Aids Nanotechnology Development
At least 60 national governments, as well as the E.U., are actively supporting nanotechnology research and commercialization through the budgets of government-run research institutions, as well as financial support and subsidies to the private sector. Governments as a group invest approximately $10 billion annually in nanotechnology research. The U.S. government is believed to be the largest public-sector investor in nanotechnology research, with $1.4 billion in fiscal 2017. Other major governmental investors in nanotechnology include the E.U. and its member states, as well as China, Japan and Russia.
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Nanodevices and Nanomachines: The Global Market( NAN062A )
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