North America Nano Sensors Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 58.32 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Nano Sensors Market Analysis
The North American nanosensor market is expected to grow at a CAGR of 58.32% over the forecast period 2021 - 2026. Sensor applications have been popular across a range of industries and especially in North America, which is expected to command a prominent share of the global nanosensor market. The invention of carbon nanotubes has greatly impacted the field and aided further development.
- The emergence of innovative technologies, such as AI, nanobots, nano drones, the internet of nano things (IoNT), and intelligent packaging is expected to drive market growth over the forecast period.
- The advancements in nanotechnology supported by government initiatives are driving the market growth. Initiatives such as Nanotechnology Signature Initiatives highlight critical areas and define the vision for accelerating nanoscale science and technology advancement to address needs and exploit opportunities from research through commercialization.
- Further, nanomaterial synthesis techniques, especially those that apply molecular self-assembly (MSA) or 'bottom-up' methods, are gaining focus. Constant research and development (R&D) in nanotechnology is expected to create competitive advantages for innovative companies. Continuous developments in nanotechnology tools and insights into the nanoscale phenomena are expected to be crucial for improving the performance of nanosensors and supporting researchers in the development of nanosensors based on innovative mechanisms.
- However, players in the market face major challenges in deploying these devices in real-life applications, for instance, in progression from MEMS to NEMS and nanoscale surface structuring over large areas; improved reliability in manufacturing routes and repeatability of functional responses; effective biocompatible materials, materials for harsh environments, packaging and integration into macro systems; and fostering a successful amalgamation of bio and micro/nanotechnology technologies needs to be in line.
North America Nano Sensors Market Trends
This section covers the major market trends shaping the North America Nano Sensors Market according to our research experts:
The electrochemical segment is expected to command prominent share over the forecasted period
- Chemical nanosensors measure the concentration and composition of a particular chemical and provide the desired effect. Carbon nanotubes are used in such sensors to absorb or adsorb, depending on the technique used, to detect the chemical changes.
- The measuring attributes include chemical composition and bonding and molecular-level concentration, among others. The benefits of these sensors include high sensitivity, high selectivity, high adsorption, and larger surface area coverage.
- Growing demand for point-of-care devices is expected to act as a driver for the chemical sensors, as these devices offer an attractive option in this field due to their small footprint and potential for high sensitivity. Oil and gas and petrochemical industries are highly dependent on such devices to ensure a safe environment for the conduction of operations.
- In the food industry, chemical nanosensors have versatile applications with an array of electrode types being used to detect compounds, like Sulfite in sugar, grapes, wine, and water. Thus, the demand for these sensors is expected to increase as various industries, such as chemicals, release pollutants and chemicals as waste, which further increases the need for monitoring solutions.
Healthcare industry is expected to fuel the growth of nano sensors over the forecasted period
- Owing to the growing requirement for compact, rapid, accurate, and portable diagnostic sensing systems, the Healthcare industry has been one of the major adopters for nanosensors. Nanosensors have the capabilities to fulfill these requirements, which can be used to treat various chronic diseases.
- Chronic diseases and conditions are on the rise across the region; according to the National Council of Aging (NCO), about 85% of older adults have at least one chronic disease, and about 60% of older adults have either two or more chronic conditions. Chronic diseases can affect a person's quality of life and independence as they age.
- Moreover, NCO mentions that chronic diseases are among the leading drivers of increasing the United States' health care costs to USD 3.8 trillion every year. Chronic pain and diabetes are some of the most expensive chronic conditions, with annual spending reaching up to USD 635 billion and USD 327 billion, respectively.
- Nanotechnology has enabled better diagnosis of medical conditions, as it provides more surface area of sensors, which improves the quality of nanosensors used for diagnosis. Nanosensors are used to detect glucose levels in the blood, which has been beneficial in treating patients with diabetes. According to CDC, about 10.5% of the US population, or 34.2 million people, have diabetes, making it one of the most prevalent chronic diseases among the country's population.
North America Nano Sensors Industry Overview
The nanosensors market is consolidated, with major players occupying the market demand with their advanced product offerings. Companies such as Omron, Texas Instruments are expected to invest heavily into the technology to maintain the competitive edge that they are currently witnessing.
- Aug 2021 - Omron launches the "VTS10 Series PCB Inspection System", the industry's first imaging and artificial intelligence technology that automates the electronic substrate inspection process, eliminating the need for specialized skills to meet the needs of fifth-generation mobile communications, electric vehicles, and autonomous driving. The company's new proposal aims to maintain and improve quality and safety.
- Jul 2021 - Omron's contribution to reducing the carbon footprint in society by improving energy efficiency and suppressing the heat, the company introduced the "G9KA" low-temperature high power PCB relay, which improves the power generation efficiency of PV systems by reducing energy losses generated by air conditioners, electricity, and solar systems.
North America Nano Sensors Market Leaders
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Analog Devices Inc
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OMRON Corporation
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Lockheed Martin Corporation
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Honeywell International Inc
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Texas Instruments Incorporated
*Disclaimer: Major Players sorted in no particular order
North America Nano Sensors Market News
- Sept 2021 - Honeywell introduces new robotic technology to help warehouses increase productivity and reduce the number of injuries. The company's innovative robotics technology aims to automate the manual pallet unloading process, which reduces the operational risk of potential injury.
North America Nano Sensors Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing research and development in innovative materials
4.2.2 Increasing Trend of Miniaturization and Use of Miniaturized Products Across Various Industries
4.3 Market Restraints
4.3.1 Complexity in Manufacturing Nanosensors
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Optical Sensor
5.1.2 Electrochemical Sensor
5.1.3 Electromechanical Sensor
5.2 By End-User Industry
5.2.1 Consumer Electronics
5.2.2 Power Generation
5.2.3 Automotive
5.2.4 Aerospace and Defense
5.2.5 Healthcare
5.2.6 Industrial
5.2.7 Other End-User Industries
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Analog Devices Inc
6.1.2 OMRON Corporation
6.1.3 Lockheed Martin Corporation
6.1.4 Honeywell International Inc.
6.1.5 Texas Instruments Incorporated
6.1.6 STMicroelectronics
6.1.7 Samsung Electronics co Limited
6.1.8 Teledyne Technologies
6.1.9 Agilent Technologies
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Nano Sensors Industry Segmentation
The miniaturization of semiconductors and sensors has fueled nanotechnology and nanomaterial applications for sensor manufacturing, giving rise to nanosensors. The scope of the study for the nanosensors market is limited to the products offered by vendors based on technology principles and their respective applications in a wide range of end-user industries globally.
| By Type | |
| Optical Sensor | |
| Electrochemical Sensor | |
| Electromechanical Sensor |
| By End-User Industry | |
| Consumer Electronics | |
| Power Generation | |
| Automotive | |
| Aerospace and Defense | |
| Healthcare | |
| Industrial | |
| Other End-User Industries |
North America Nano Sensors Market Research FAQs
What is the current NA Nano Sensors Market size?
The NA Nano Sensors Market is projected to register a CAGR of 58.32% during the forecast period (2024-2029)
Who are the key players in NA Nano Sensors Market?
Analog Devices Inc, OMRON Corporation, Lockheed Martin Corporation, Honeywell International Inc and Texas Instruments Incorporated are the major companies operating in the NA Nano Sensors Market.
What years does this NA Nano Sensors Market cover?
The report covers the NA Nano Sensors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the NA Nano Sensors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
NA Nano Sensors Industry Report
Statistics for the 2024 NA Nano Sensors market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. NA Nano Sensors analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
