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Rise in demand for surgical procedures which are minimally invasive & non-invasive across the globe is driving nanomagnetics market revenue growth.
VANCOUVER, BRITISH COLUMBIA, CANADA, September 8, 2022 /EINPresswire.com/ -- Rise in demand for surgical procedures which are minimally invasive & non-invasive across the globe is driving nanomagnetics market revenue growth.
The global nanomagnetics market size is expected to reach USD 11.61 Billion in 2028 and register a revenue CAGR of 2.9% over the forecast period, according to latest analysis by Emergen Research. Global nanomagnetics market revenue growth is driven to a significant extent by rising demand from various end-use industries such as healthcare, electronics, and transportation.
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.
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 report also offers a thorough analysis of the key market drivers and restraints that play a vital role in influencing the growth of the industry. The report considers the currently unfolding coronavirus pandemic as one of the key influencing factors. The research report analyzes the overall impact of the pandemic on the Nanomagnetics industry, along with its impact on the key segments and sub-segments of the market. Moreover, the report assesses the COVID-19 pandemic’s impact on the key geographical region and their effect on the overall market owing to different restrictions imposed in different regions and countries.
Market Size – USD 9.21 Billion in 2020, Market Growth – at a CAGR of 2.9%, Market Trends – Surge in government initiatives.
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The research report offers key insights into the leading market players’ strengths and weaknesses, assessed using Porter’s Five Forces and SWOT analyses. The report includes Nanomagnetics market segmentation based on product type, application spectrum, and key regions. The investigative study estimates the market size, market share, and revenue generation over the forecast timeframe. The key players profiled in the 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.
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)
End-use Outlook (Revenue, USD Billion; 2018–2028) Transportation
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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. Benefits of nanomagnets in storage applications is due to nanomagnets’ hysteresis that is responsible for creation of two oppositely magnetized states that are capable of storing binary data.
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. Companies are producing large-scale nanomagnetic devices using nanoimprint lithography as it is a cost-effective procedure. Such initiatives are driving growth of this segment.
The report addresses the following key points:
The report estimates the expected market size from 2021-2028
The report provides a forecast of market drivers, restraints, and future opportunities for the Nanomagnetics market
The report further analyses the changing market dynamics
Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
Extensive competitive landscape mapping with profiles of the key competitors
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
In conclusion, the report provides a qualitative and quantitative analysis of the Global Nanomagnetics market, including the global and regional analysis of the market. The study covers critical information and factual data about the Nanomagnetics industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Nanomagnetics market is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Nanomagnetics industry.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Rise in demand for surgical procedures which are minimally invasive & non-invasive across the globe is driving nanomagnetics market revenue growth.
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