Internet Of Nano Things - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Internet Of Nano Things - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Internet Of Nano Things Market size is estimated at USD 26.47 billion in 2024, and is expected to reach USD 66.5 billion by 2029, growing at a CAGR of 20.23% during the forecast period (2024-2029).

Key Highlights

• The internet of nano things (IoNT) facilitates the interconnection of nano-sensors and nanodevices with the existing communication technologies in the market, including the internet. Developing nano-machines with communication capabilities and interconnection with micro-and macro-devices will empower IoNT, which is increasingly seen as the next major technological innovation. These devices have dimensions ranging from 1 nm to 100 nm and are interconnected with classical networks, leading to new networking paradigms.
• IoNT is a modern technology that allows numerous nano gadgets to communicate with one another via a high-speed network. IoNT is used for data gathering, pre-processing, and sharing with end users. It also opens up many possibilities with new technologies, such as cloud computing, big data, and machine learning (ML).
• The increased government spending in the aerospace and defense segment is expected to drive the IoNT market during the forecast period, as IoNT has found significant applications in the fields of nano-drones that could be used for monitoring and carrying explosives sufficient enough to penetrate the targetted subject.
• The technological advancements over the past few years have primarily led to the rapid growth of smart environments (offices, homes, and cities, among others). This rapid increase in such environments has paved the way for the interconnectivity of applications and internet usage, prompting the emergence of IoT technology. The expansion of the IoT concept has also given access to IoNT, a new communication network paradigm primarily based on nanotechnology and IoT.
• Nano-drones, employed for monitoring and transporting military troops, are another key use of IoNT. In addition, IoNT can provide more detailed and up-to-date images of cities, houses, and factories. The use of IoNT in smart city projects may monitor various characteristics, such as air and water quality, throughout a metropolis. IoNT can capture real-time data that can be utilized to improve infrastructure, public utilities, and services. Also, rising awareness of the many benefits of IoNT and the development of nano-machines will considerably enhance market revenue growth during the forecast period.
• Nanotechnology systems are expensive and require advanced technology. The high cost is a barrier for many businesses operating on a small and medium scale to use this technology that is planning to deploy expansion strategies in the market.
• The post-COVID-19 era has changed the nature and working conditions of businesses worldwide. Companies automated their operations even more while employees continued to work remotely. IoNT developers were working on implementing IoNT techniques, which helped the IoNT business to flourish. Nano drones helped deliver medical supplies and monitor specific locations, and they were no longer regarded as merely a weapon of war and obscurity. Also, IoNT solutions in the healthcare sector offer numerous benefits, such as lowering service costs and increasing treatment outcomes, propelling the IoNT market forward.

Internet Of Nano Things Market Trends

The Healthcare Segment is Expected to Hold a Significant Share

• Nanotechnology and the internet of nano things (IoNT) have continuously impacted the healthcare segment and its transformation and contributed to better results. Including nanotechnology in medicine through nanomaterials and devices, known as nanomedicine, has brought many benefits to disease prevention, diagnosis, and treatment. The healthcare and life sciences area is predicted to grow rapidly during the forecast period. IoNT can detect life-threatening disorders early on and assists in the collecting of real-time data from patients, allowing for life-saving medical measures.
• According to the American Cancer Society, there were 1.95 million new cancer cases identified in the United States in 2023, with 609,360 cancer deaths. As a result, the rising number of cancer patients propels the healthcare nanotechnology industry forward. Nanotechnology products have been increasingly beneficial in healthcare, developing unique nanosystems for diagnosing, imaging, and treating various diseases, including cancer, cardiovascular, ophthalmic, and central nervous system ailments.
• Incorporating the concept of IoNT into healthcare has enabled more personalized, timely, and convenient health monitoring and treatment. Therefore, nanotechnology and IoNT have the potential to revolutionize healthcare in the 21st century completely, creating a system that enables early detection and diagnosis of illness, followed by accurate, on-time, and effective treatment, significantly reducing medical costs.
• The advancement of nanomedicines and nanodevices has spurred many researchers to seek alternative remedies, as current approaches are limited in earlier identification and treatment. The remarkable features and applications of diverse nanomaterials and nanosystems have made them ubiquitous in creating technologies that will be deployed shortly.
• The IoNT can also form a body sensor network (BSN) that easily applies internal nano-sensors to monitor patient health and physiological activity. The patient can view this data obtained by the nano-sensor on a wearable gadget with a doctor. As per data from the United States Patent and Trademark Office (USPTO), there are 6,926 published nanotechnology patent applications in the United States, followed by 1,715 in South Korea in 2023. These patents are testimonials of the market players investing in nanotechnology.
• Smart wearables have played a significant role in expanding the scope of IoNT in the segment. The massive adoption of fitness tracking devices and growing investments by companies like Apple, Fitbit, and Android enhance the range further by adding more healthcare features. Many startups are also bringing innovation to this segment.

North America is Expected to Hold the Largest Share

• Modern manufacturing facilities in the United States rely on new technologies and innovations to produce higher quality products significantly with lower costs. Fast and secure 5G connectivity is expected to enable agile operations and flexible production. This technology is expected to facilitate automated warehouses, automated assembly, connected logistics, packing, product handling, and autonomous carts.
• Market players are investing in catering to innovative solutions for business growth. For instance, in October 2023, Intel announced its foray into the 1.8 nm production process, aiming to revolutionize the semiconductor industry and drive market dynamics. Intel Foundry Services (IFS) partnered with Arm, emphasizing the creation of low-power compute system-on-chips (SoCs) using Intel's 18A process. While the initial focus was on mobile SoCs, Intel and Arm are set on expanding into diverse sectors, including automotive, IoT, data centers, aerospace, and government applications.
• Among emerging technologies that are expected to emerge out of the existing technologies transforming manufacturing in the United States is the convergence of AI and IoNT, with companies like SAS Software touting IoNT as the next wave for IoT based upon nanotechnology.
• The key players across this region are developing new solutions to remain competitive. In January 2024, Telit Cinterion, an end-to-end IoT solutions enabler, announced cellular and satellite connectivity services on its ME910G1 and ME310G1 modules. This partnership between floLIVE and Skylo Technologies planned to deliver the new solution, ensures that mobile assets, including shipping containers, agricultural equipment, trucks, and other high-value assets, can be tracked and monitored anywhere, from rural highways to deserts and oceans.
• Also, the emerging 5G standards with new radio (NR) target capabilities, such as vehicle-to-everything and ultra-reliable low-latency communications, are used in industrial use cases. With industrial communication buses standardized by IEC, such as PROFINET and Modbus, the market is headed toward reliable and secure industrial adoption.

Internet Of Nano Things Industry Overview

The internet of nano things market is semi-competitive and consists of several key players like Schneider Electric, IBM, and Intel. However, the market remains consolidated, with many players trying to occupy the share. Their ability to continually innovate their products and services by investing significantly in research and development has allowed them to gain a competitive advantage over other players.

May 2024: CGI and Nokia unveiled plans to bolster their collaboration, focusing on merging 5G private wireless networking technology with CGI's suite of business services. This strategic alliance aims to streamline the deployment and management of digital solutions tailored for data-centric, real-time business operations. Leveraging their collective strengths, the partners successfully implemented a 5G and 4G private network in Northern Ireland's manufacturing and educational environments. This initiative granted access to network technologies and included support for the narrowband-internet of things (NB-IoT).

September 2023: Intel divested its 10% stake in the advanced chip tool sector to TSMC. IMS Nanofabrication, headquartered in Vienna, Austria, specializes in crafting multi-beam masking tools pivotal for producing cutting-edge chips, particularly those reliant on extreme ultraviolet lithography (EUV) technology. Intel remains the majority stakeholder of IMS, which will continue to operate as a standalone subsidiary under CEO Elmar Platzgummer.

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