Global Nanosensors Market is Estimated to Reach $5.6 Billion by 2024
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, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
The 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 consumption also boost 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 nanosensors, 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 the U.S., Canada, and Mexico whereas the Europe segment consists of the UK, Germany, France, and the Rest of Europe. Asia-Pacific is segmented into India, China, and the Rest of Asia-Pacific while RoW is bifurcated into South America, the 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, owing 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.
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