Nanomagnetics Market Share, Products, Size, Growth, Insights and Forecasts Report 2028
Nanomagnetics is an effective method in making materials lighter, stronger, reactive and durable. Demand for nanomagnetics has been steadily increasing owing to the ongoing product and device miniaturization trend in the market. Increase in investment in R&D of nanomagnetics and surge in demand for more-energy efficient and effective devices are other factors driving revenue growth of the market.
Rising demand for Heating, Ventilation, and Air Conditioning (HVAC) systems and deployment of building automation solutions in various countries across the globe has been leading to increased demand for nanomagnetic devices. Nanomagnetic sensors find application in centralized security systems and rising focus on and need for enhanced safety and security is driving market growth. However, high cost of R&D and complex manufacturing process of nanomagnetics devices are key factors hampering market revenue growth.
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One of the trends in the market is development of nanomagnetics for wireless charging applications. Wireless power transfer applications require improved performance magnetic materials for allowing critical functions such as inductive coupling and Electromagnetic Interference (EMI). The COVID-19 pandemic has created major demand for more scalable and affordable detection methods and new efficacious medical solutions that can be achieved using nanomagnetics. Researchers are increasingly using nanotechnology to develop remedies to alleviate chronic and acute effects of COVID-19 and variants.
The global Nanomagnetics market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Nanomagnetics market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Some major companies in the global market report include Samsung Electronics, Hitachi, Novanta Inc., IPG Photonics, Rofin-Sinar Technologies, LG Electronics, Osram, Amkor Technology, Tokyo Electron Limited, and Han's Laser Technology Industry Co., Ltd.
Key Highlights From the Report
In March 2020, MIP Diagnostics and Veravas announced an international agreement to improve diagnostics. It is a mutually beneficial agreement for the license, development, and supply of MIP specific for Veravas' sample preparation technology. Veravas's nanomagnetic particles will recognize, eliminate and measure substances from sample of patients to reduce the effects of complex interferences.
Data storage segment accounted for a significantly large revenue share in 2020 as several research studies are focusing on developing and implementing nanomagnetic materials for data storage, which is paving way for miniature data storage devices. Arrays of nanomagnetic materials could be deployed for producing hard disks with ultra-high-density storage or for development of solid-state memory with enhanced read/write speed and dense memory capacity.
Electronic segment accounted for a significantly large revenue share in 2020 due to increased application of nanomagnetic in electronics. Nanomagnetics are designed to boost electrical, thermal, and mechanical properties of electronic devices.
Asia Pacific market accounted for largest revenue share in 2020 due to increase in demand for nanomagnetics from the electronics industry in countries in the region. Asia Pacific is a hub for semiconductors and high demand for advanced technologies in China, Japan, Taiwan, Singapore, and India is a key factor driving market revenue growth.
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The global Nanomagnetics market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Nanomagnetics market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Nanomagnetics market.
Emergen Research has segmented the global Nanomagnetics market on the basis of application, end-use, and region:
Application Outlook (Revenue, USD Billion; 2018-2028)
Magnetoresistive Random Access Memory (MRAM)
Giant Magnetoresistive (GMR) Sensors
Biosensors and Bioassays
Medical and Genetics
End-use Outlook (Revenue, USD Billion; 2018-2028)
Medical & Biotech
Manufacturing and Processing Industry
Regional Outlook (Revenue, USD Billion; 2018-2028)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest Of MEA
Key Benefits of Buying the Global Nanomagnetics Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Nanomagnetics Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Nanomagnetics Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Nanomagnetics Market
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