Global Nanosensors Market report published by Accurize Market Research forecast that the global market is expected to reach $5.6 billion by 2024; growing at a CAGR of 68.5% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Increasing affordability of nanosensors in the developing regions across the globe to drive the growth of the market
Growing affordability of nanosensors owing to rising demand for cost-efficient and optimum quality products in the developing regions fuels the demand for the global nanosensors market. Moreover,exhibit features such as low cost, compact size, increased reliability, and reduced power consumptionalso boosts the growth of the market.
The global nanosensors market has been bifurcated on the basis of product type, application and geography. On the basis of product type, the market has been divided into optical nano sensors, electrochemical nanosensors, and electromagnetic nanosensors. On the basis of application, the market has been segmented as automotive and aerospace, homeland defense and military, biomedical and healthcare, and other applications.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, and Rest of Europe. Asia-Pacific is segmented into India, China, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
“Electrochemical nanosensors accounted for the largest market share in the product type segment”, says Accurize
By product type segment, electrochemical accounted for the highest market share in 2017 and expected to continue its trend during the forecast period 2017 – 2025. In terms of growth, electromagnetic nanosensors are likely to achieve the fastest CAGR during the forecast period, owed to its extensive application in wireless communication.
“Biomedical and healthcare accounted the highest share in the application segment”, says Accurize
By application segment, biomedical and healthcare accounted for the major market share in 2017, and is likely to continue its dominance during the forecast period. The high growth is attributed to its high sensitivity and accuracy.
“North America dominated the global market with the highest market share over the forecast period”, says Accurize
In 2017, North America made the highest revenue accounting for 39.3% of the total market share, owing to booming automotive and aerospace segment in the region. In terms of growth, Asia-Pacificis likely to achieve the fastest CAGR of 69.3% during the forecast period 2017 – 2025.
Top players in the market
The key market players include Lockheed Martin Corporation, Robert Bosch GMBH, Honeywell International, Nippon Denso Corp, Agilent Technologies Inc, Micro-Tech Scientific Inc,Analog Devices INC, Toshiba Corp., Altair Nanotechnologies Inc., and Omron Corp.,among others.