Internet of Nano Things Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The Internet of Nano Things Market was valued at USD 1,761.57 million in 2020 and is expected to reach USD 11,148.62 million by 2026, register a CAGR of 35.08% over the forecast period (2021 - 2026). The internet of nano things is very much similar to the internet of technology in which the devices that are interconnected with IoNT are miniaturized.

• The development of nano-machines with communication capabilities and interconnection with micro- and macro-devices will empower IoNT, which is being increasingly seen as the next major innovation in technology. These devices have dimensions ranging from 1 nm to 100 nm and are interconnected with classical networks leading to new networking paradigms.
• The increased government spending in the aerospace and defense sector is expected to drive the IoNT market for the forecast period as IoNT recently has found major applications in the fields of Nano-drones that could be used for monitoring and carrying explosives sufficient enough that penetrates the targetted subject.
• The technological advancements over the past few years have primarily led towards a rapid growth of smart environments (offices, homes, cities, among others). This rapid increase of such environments have paved the way for the interconnectivity of applications and the usage of the Internet prompting emergence of the Internet of Things (IoT) technology. The expansion of the IoT concept has also given access to the Internet of Nano Things (IoNT), which is new communication networks paradigm that is primarily based on nanotechnology and IoT.
• The manufacturing sector with the integration of the autonomous and embedded sensors through a combination of micro and nanosystem technologies are revolutionizing the self-powered, high bandwidth devices that are used for advance manufacturing (AM), artificial intelligence (AI), and IoT.

Scope of the Report

The Interconnection of nanoscale devices with existing communication networks and ultimately the Internet defines a new networking paradigm called “Internet of Nano-Things”. This report segments the market by Device (Nano Cameras, Nano Phones, Nanosensors, Nano Processors, Nano-Memory Cards, among others), End-user (Healthcare, Logistics, Defense & Aerospace, Manufacturing, among others).

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Key Market Trends

Healthcare Industry is Expected to Hold a Significant Share

• The expectations of a better quality of life coupled with the aging population and the changing lifestyles have resulted in an increase in demand for more efficient and affordable and improved healthcare.
• The development of nanomedicine primarily uses the properties of a material developed on a nanoscale offering the potential to cross natural barriers and access new sites of delivery. This nanometric size allows interaction with the DNA or small proteins at different levels in the blood or within organs, tissues, and cells.
• With advancements in the fields of nanotechnology has allowed in the detection of diseases in very minute amounts or in the initial stages. For instance, in April 2019, a pair of NJIT inventors Bharath Babu Nunna and Eon Soo Lee has been instrumental in developing nanotechnology enhanced biochip to detect cancers, malaria and viral diseases such as pneumonia early in their progression with a pinprick blood test.
• The convergence between ICT and medical fields reflect the emergence of seamlessly-connected sensors and devices that can improve healthcare services and an expectation-improved IoT utilization in healthcare. The adoption of IoT in the healthcare sector and increasing demand to support M2M and M2H communication can be owed to the advanced medical equipment.

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