Sarasota, FL -- (SBWIRE) -- 11/07/2017 -- According to the report, global nanoelectromechanical systems market was valued at USD 23.20 million in 2016 and is expected to generate revenue of USD 102.03 million by end of 2022, growing at a CAGR of slightly above 28.05% between 2017 and 2022.

Nanoelectromechanical systems generally referred as NEMS are systems which impart electrical and mechanical functionality on a nanoscale. NEMS is an advanced and miniature form of microelectromechanical systems or MEMS devices. Microelectromechanical systems (MEMS) are miniaturized sensors, actuators, devices and systems with a critical dimension of the order of micrometers.NEMS includes a variety of devices like accelerometers, cantilevers, sensors, gears, prices of actuators, tweezers, and many other nanodevices.

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MEMS-based systems can be used for personal monitoring and dosing, as lightweight vehicle sensors for manufacturing process control and for just-in-time chemical synthesis requiring small quantities of hazardous substances. MEMS technology has already impacted defense, medical, aerospace, mechanical, chemical and computer areas.

Increasing adoption of this technology in consumer electronic devices such as wearable devices, tablets, and smartphones are expected to be the major drivers for the global nanoelectromechanical systems market. Increasing demand of the miniature electronic components due to various advantages and technology advancements in nano-components and nanomaterials is expected to support the nanoelectromechanical systems market growth in the near future. However, prices of nano-materials and nano-components may curb the demand for NEMS within the forecast period.Nonetheless, developing new applications areas for NEMS in consumer goods and the medical, surgical or nano surgical sectors expected open new avenues for the market growth over the next few years.

Nanotubes, nanowires, nanofilms, and nanobelts these are the main types of NEMS systems. A nanotube is a nanometer-scale tube-like structure. Nanotubes, which are sometimes called buckytubes are developed from the Fullerene, a structure that is similar to the geodesic domes. Nanofilms can be used to make objects anti-reflective, water repellent, self-cleaning, antimicrobial, scratch resistant, infrared-resistant, and electrically conductive. Based on material type segments, nanoelectromechanical systems market has been segmented into graphene, carbon nanotubes and others. Carbon nanotubes are made from carbon, similar to graphite found in pencils. They are also good conductors of electricity and heat and have a very large surface area.

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Different application segments of the nanoelectromechanical systems market include automotive, consumer electronics, industrial, healthcare and others. Consumer electronics-dominated the NEMSmarket in 2016, which accounted for around 40.5% market share of the total market. It is expected to grow at a significant rate during the forecast period. In 2016, the automotive merger as a second largest segment of NEMS. Industrial and healthcare sectors are also expected to grow at a considerable rate in the years to come.

Demand for nanoelectromechanical systems was the highest in Asia Pacific due to the vast research and development infrastructure growth in countries including Japan, Brazil, China, and India. Also, Asia Pacific was predicted to be the fastest growing region due to the advancements in technology. Europe and North America are expected to show strong growth in automotive sector due to advanced technology.North America acquired the majority of share nanoelectromechanical systems market in 2016.

Some of the key players in nanoelectromechanical systems market include Robert Bosch, STMicroelectronics, California Institute of Technology, Sun Innovation Inc, Agilent Technologies Inc., Bruker Corporation, Asylum Research Corporation, and Diego State University, and Texas Instruments.

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