Middle-East and Africa Nanosensors Market Size

MEA Nanosensors Market Analysis

The Middle-East and Africa nanosensors market is expected to register a CAGR of 65.32% during the forecast period (2022 - 2027). The growth of the market can be attributed to the increasing technological advancements to enhance the nano sensor's abilities, the escalating trend of usage of miniaturized products, the growing affordability of nanosensors, and the growing investments in R&D activities.

• Nanosensors are among the notable inventions in the field of nanotechnology. The sensors are manufactured on the nanoscale and are designed to collect information on the nanoscale. Since their invention, nanosensors have made inroads into several industries. There are several industries where these sensors can contribute to offer disruption and economic and environmental impacts in the Middle East.
• The major trends driving the Middle-East and Africa nanosensors market in the automotive sector are miniaturizations and improved communication capabilities, enabling their integration into vehicles without interfering with the basic functionalities of the vehicle, while the factor driving the growth of the nanosensors market in Africa is its growing use in various applications, such as automotive and medical.
• According to Dubizzle, an online buy marketplace to buy and sell products in the UAE, about six in 10 UAE consumers are considering whether to buy a car in the next six months. As the Middle Eastern automotive sector is a key market for high-performance cars, such trends are expected to drive the demand for nanosensors.
• Furthermore, advancements in nanotechnology have revolutionized many aspects of the oil and gas industry. According to OPEC, Saudi Arabia possesses around 17% of the world's proven petroleum reserves. The oil and gas sector accounts for about 50% of gross domestic product and about 70% of export earnings.
• Nanosensors are used in the oil and gas sector for temperature and pressure measurement. Furthermore, pollution by chemicals or gases is also a difficult aspect of petroleum production. The vast sea of applications of nanosensors is being explored for effective utilization in the oil and gas sector, especially in improving the recovery efficiency of the oilfield.
• The global outbreak of COVID-19 had a significant impact on the Middle-Eastern region. The pandemic primarily impacted the automotive and oil and gas sector of the countries in this region, which is the backbone of the economies in this region. According to OECD, more than 2.2 million COVID-19 infections have been registered in the MENA region. Among Arab economies, Iraq has the most confirmed cases, followed by Saudi Arabia and Morocco.
• However, the governments in the region had made important efforts to address the COVID-19 health crisis early on, which helped them contain the spread of the virus. With the condition moving toward normalcy, the MEA region is anticipated to create a favorable environment for the growth of the nanosensors market during the forecast period.