Molecular Electronics Market: Industry Outlook, Growth Prospects and Key Opportunities
Molecular electronics involves fabrication of electronic components through detailed study of molecular building blocks. Molecular electronics offers molecular level development and control of electronics components that are very small in size and offers improved functionalities in compact form factors thereby attracting research and development focused on mass production of everyday electronics devices.
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Furthermore, the ultimate goal of molecular electronics, which focuses to incorporate molecular components into electronic circuit units, is to generate functional molecular electronic devices using individual or ensemble molecules to fulfill the increasing technical demands of the miniaturization of traditional silicon-based electronics.
The molecular electronics market is expected to be driven by the compact form factors of these devices. The size scale of molecules involved in molecular electronics ranges between one nano meter and 100 nano meters. This offers advantages over the conventional silicon based electronics circuits and devices in critical applications, for instance micro robots for healthcare applications.
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The molecular electronics devices offers high efficiency and low power dissipation which is anticipated to bolster the growth of molecular electronics market. Moreover, molecular electronics devices offers improved tailor ability, which can be used to vary a molecule’s transport, binding, optical, and structural properties and consequently the efficiency of molecular electronics devices.
However, along with the advantages of molecular electronics devices, the associated disadvantages are expected to restrain the market during the first half of the forecast period. The major factors restraining the molecular electronics market are high fabrication and manufacturing cost, difficult error recovery due to ultra small scale integration and highly trained man force to handle and control the risks factors of molecular electronic devices.
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The global molecular electronics market has been segmented based on devices type, end-use industry, and region. Based on device type, the molecular electronics market can be classified into active electronic devices, and passive electronic devices. Based on end-use industry, the market can be segmented into IT and Telecommunication (artificial intelligence), automotive, defense and aerospace, consumer electronics, healthcare, and others.
The healthcare segment of the molecular electronics market is anticipated to offer most promising opportunities during the forecast period. In terms of region, the global molecular electronics market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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