The global nanoelectromechanical systems (NEMS) market was valued at $9.7 million in 2015. This market is expected to grow from $11.3 million in 2016 to $55.4 million by 2021, with a compound annual growth rate (CAGR) of 37.4% for the period of 2016-2021.
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Nanoelectromechanical systems (NEMS) comprise an advanced class of devices that integrates electrical and mechanical functionalities on the nanoscopic scale. NEMS are considered as a disruptive technological advancement that extends miniaturization of devices to the next level, beyond microelectromechanical systems (MEMS). The current market for NEMS devices is in its infancy, and thus extensive research and development (R&D) in the field of nanotechnology and nanomaterials are still in progress. This market, however, is expected to see robust growth during the forecast period, which is attributed to its advantages, including high resonating frequency, low energy consumption, size reduction, multiple frequencies on a single chip and cost reduction by integrated circuit (IC) integration offered by NEMS devices. NEMS is expected to emerge as an enabling technology that merges life sciences with engineering, which is further expected to open up new opportunities in the coming years.
The NEMS market is expected to experience double-digit growth rate during the forecast period from 2016 to 2021. The major factor driving the growth of the NEMS market is increasing demand for miniaturization of electronic components from end-user industries, such as medical and consumer electronics. Increasing investment by government bodies and private organizations for research and development in the field of nanotechnology is also boosting market growth. The NEMS market is expected to see significant growth due to the technological advancements of nanocomponents and nanomaterials during the forecast period. The rising demand for high-precision microscopes is accelerating the overall NEMS market.
A lack of standardized process and mass manufacturing techniques is leading to difficulties in manufacturing NEMS, which poses as a major restraint in the growth of the global NEMS market. Substantially high prices of nanoscale components used for manufacturing NEMS will also hinder market growth during the forecast period. Nevertheless, surges in NEMS applications in end-user industries such as consumer electronics and medical are expected to create new opportunities in the global NEMS market.
The global NEMS market is segmented into nanorelays and switches, nanotweezers, nanoactuators, nanosensors, nanoresonators, gyroscopes, nanoaccelerometers, nanorobots and others. The market can then be further categorized based on fabrication technology into top-down approach and bottom-up approaches.
Major NEMS applications can be found in the semiconductor, automotive, monitoring and detection, industrial process and control, communication, medical, and military and defense industries. In terms of materials, the NEMS market is segmented into graphene-based NEMS, silicon-based NEMS, silicon carbide-based NEMS, indium arsenide-based NEMS, gold- and platinum-based NEMS and gallium arsenide-based NEMS.
– An overview of the global nanoelectromechanical systems (NEMS) market
– Analyses of global market trends, with data from 2015 and 2016, and projections of compound annual growth rates (CAGRs) through 2021
– Information on major applications for NEMS, including the semiconductor industry, automotives, industrial processes and controls, the medical sector, and communications
– In-depth market analysis, specifically growth drivers, restraints, and opportunities
– A breakdown of the NEMS market by product type, technology, application, material, components, and region
– A look at government regulations and the industry structure
– Patent analysis
– Profiles of major players in the industry
The global nanoelectromechanical systems (NEMS) market was valued at $9.7 million in 2015, and it is expected to reach $55.4 million by 2021, increasing at a CAGR of 37.4% from 2016 through 2021. Growth of the NEMS market is attributed to the increasing demand for precision microscopes and electronics with higher functionality, as well as the rapidly transforming communication industry and a surging demand for BioNEMS. Other factors influencing swift growth of the market include demand for monitoring and detection techniques, emphasis on miniaturization of devices to serve multiple purposes and reviving the automotive industry with changing standardizations.