Market Trends of Internet Of Nano Things Industry
Healthcare Industry is Expected to Hold a Significant Share
- Nanotechnology and the Internet of Nano Things (IoNT) have continuously impacted the healthcare sector and its transformation and contributed to better results. Including nanotechnology in medicine through nanomaterials and devices, known as nanomedicine, has brought many benefits to disease prevention, diagnosis, and treatment.
- The healthcare and life sciences area is predicted to grow rapidly during the forecast period. IoNT can detect life-threatening disorders early on and assists in the collecting of real-time data from patients, allowing for life-saving medical measures.
- According to the American Cancer Society, an expected 1.9 million new cancer cases will be identified in the United States in 2022, with 609,360 cancer deaths. As a result, the rising number of cancer patients propels the healthcare nanotechnology industry forward.
- Nanotechnology products have been increasingly beneficial in healthcare, developing unique nanosystems for diagnosing, imaging, and treating various diseases, including cancer, cardiovascular, ophthalmic, and central nervous system ailments.
- Incorporating the concept of IoNT into healthcare has enabled more personalized, timely, and convenient health monitoring and treatment. Therefore, nanotechnology and IoNT have the potential to revolutionize healthcare in the 21st century completely, creating a system that enables early detection and diagnosis of illness, followed by accurate, on-time, and effective treatment, significantly reducing medical costs.
- The advancement of nanomedicines and nanodevices has spurred many researchers to seek alternative remedies, as current approaches are limited in earlier identification and treatment. The remarkable features and applications of diverse nanomaterials and nanosystems have made them ubiquitous in creating technologies that will be deployed shortly.
- The IoNT can also form a body sensor network (BSN) that easily applies internal nano-sensors to monitor patient health and physiological activity. The patient can view this data obtained by the nano-sensor on a wearable gadget with a doctor.
- Smart wearables have played a significant role in expanding the scope of IoNT in the sector. The massive adoption of fitness tracking devices and growing investments by companies like Apple, Fitbit, and Android enhance the range further by adding more healthcare features. Many startups are also bringing innovation into the sector.
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North America is Expected to Hold the Largest Share
- Modern manufacturing facilities in the United States rely on new technologies and innovations to produce higher quality products significantly with lower costs. Fast and secure 5G connectivity is expected to enable agile operations and flexible production. This technology is expected to facilitate automated warehouses, automated assembly, connected logistics, packing, product handling, and autonomous carts.
- The prominent players in this region are focused on strategic acquisitions and collaborations to remain competitive and enhance their capabilities. For instance, in July 2022, Intel and MediaTek announced a collaborative agreement to manufacture semiconductors using advanced process technology from Intel Foundry Services (IFS). The partnership is intended to assist MediaTek in developing a more balanced, resilient supply chain by adding a new foundry partner with significant capacity in the United States and Europe.
- Moreover, in July 2022, Intel announced the first open-source AI reference kits to make AI more accessible to enterprises operating in on-premises, cloud, and edge environments. The reference kits first unveiled at Intel Vision feature AI model code, end-to-end machine learning pipeline instructions, libraries, and Intel one API components for cross-architecture performance. These kits teach data scientists and developers how to deploy AI more quickly and easily in healthcare, manufacturing, retail, and other industries, resulting in increased accuracy, better performance, and reduced overall cost of implementation.
- Among emerging technologies that are expected to emerge out of the existing technologies transforming manufacturing in the United States is expected to include the convergence of AI and IoNT, with companies like SAS Software touting IoNT as the next wave for IoT based upon nanotechnology.
- The key players across this region are developing new solutions to remain competitive in the market. In May 2021, IBM announced the development of the world's first chip with 2 nanometers (nm) nanosheet technology, marking a milestone in semiconductor design and process. Semiconductors are used in various applications, including computing, appliances, communication devices, transportation systems, and critical infrastructure.
- Also, the emerging 5G standards with New Radio (NR) target capabilities, such as vehicle-to-everything and ultra-reliable low-latency communications, as industrial use cases. With industrial communication buses standardized by IEC, such as PROFINET and Modbus, the market is headed toward reliable and securer industrial adoption.
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