Press release
Nano-magnetic Devices Market - The Increasing Demand of Nanotechnology
According to a research report, the world nano magnetic devices market is estimated to reach US$12.41 bn by 2024. The CAGR is expected to expand at 6.98% during the forecast period.
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The need for nano-magnetic devices has already become an essential requirement in several manufacturing process. The need for nano-magnetic devices in developed nations is offering a promising growth to the global market. The use of nanotech in cutting-edge manufacturing has become one of the important agenda for emerging economies like India and China, said a TMR analysts. The world nano-magnetic devices market is fuelled by the mounting demand for microelectronics in manufacturing of solar cells, flat panel displays, and microchips.
Progress of nonmagnetic for wireless charging is gaining a lot traction in the market. Wireless power transfer requires magnetic materials of high materials for activating complex functions like inductive coupling and electromagnetic interference shielding. Inductive coupling is renowned technique in wireless power system. Rise in demand for the usage of nano-magnetic devices in medical, genetics, and sensor segments is predicted to increase during the forecast period.
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The growth is also carried by the need of nano-technology enabled sensors used in biological, physical and chemical sensing. These sensors allow specific recognition, sensitivity, multiplexing capability for a various kind’s safety, environmental, and health assessment.Factors such as characteristics and reducing scales of devices while equally gaining an escalation works in the favor of the growth of the world nano-magnetic devices market. It has become very much possible to develop devices that are extreme small as well as sophisticated than their antecedents. Nano technology are the building blocks of future devices that are smarter, power efficient, highly durable, and lighter. Commercial electronics also falls under the same category.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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