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Global Nanosensor market to reach $17.2B, says NanoMarkets

Posted: 10 Dec 2004 ?? ?Print Version ?Bookmark and Share

Keywords:nanomarkets? nanotechnology? sensors? nanosensors? ibm?

Sensors designed and built using nanotechnology will generate global revenues of $2.7 billion in 2008 and reach $17.2 billion in 2012, according to NanoMarkets LC in its latest report, "A Market Opportunity Analysis."

Nanosensor arrays are already under development by giant firms such as Dow Corning, samsung, Boeing, Lockheed Martin, IBM, motorola, and agilent as well as by start-ups such as Nanomix and Ambri. NanoMarkets foresees important applications for nanosensors in a wide range of applications including medicine and healthcare, military and homeland defense, industrial control and robotics, networking and communications, and environmental monitoring.

NanoMarkets believes that the market opportunities for nanosensors will stem, in large part, from unique features that surpass competing technologies.

NanoMarkets report also predicts that nanotechnology will lead to a radical reduction in the cost of individual sensors, which enable sensors to be used more widely in transportation. The result is greater sensor redundancy and better environmental, ergonomic and fuel-use control in both cars and planes. This will ultimately result in lowered costs and more comfort and safety for end users -- all of which are key competitive issues for both airlines and automobile companies. NanoMarkets expects that the aerospace segment of the nanosensors market will reach $214 million in 2008 and $2.1 billion in 2012 and that the automotive segment will grow from $133 million to $1.5 billion over the same period.

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