Nanotechnology Now - Press Release: Nanotechnology Poised to Revolutionize Tech

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Abstract:
Sales of products incorporating nanotechnology will total $2.6 trillion in 10 years

New Study: Nanotechnology Poised to Revolutionize Tech, Manufacturing Markets

Market will rival sales volume of combined tech and telecom markets

New York, NY – October 29, 2004

Sales of products incorporating nanotechnology will total $2.6 trillion in 10 years, approximately one-sixth of gross manufacturing output in 2014, greatly exceeding previous estimates, according to a new report released by a leading industry analyst. Nano-enhanced products will account for 50 percent of all electronics and information technology products and 16 percent of all healthcare products by 2014, according to the report.

Issued by Lux Research Inc. of New York City and entitled “Sizing Nanotechnology’s Value Chain,” the report predicts nano-enhanced product sales will grow from today’s 0.1 percent of global manufacturing output to 15 percent in 2014. This amount equals the combined size of today’s information technology and telecom industries, and it exceeds biotechnology revenues ten-fold. Within a decade, 11 percent of total manufacturing jobs worldwide will involve nano-enhanced products. The National Science Foundation had previously predicted that nanotechnology would contribute $1 trillion to the global economy by 2015.

“This report documents nanotechnology’s impressive growth and its continuing integration into the marketplace, bringing its benefits to more and more consumers and businesses,” said Sean Murdock, executive director of NanoBusiness Alliance. “As nanotechnology continues to drive innovation, it will reshape today’s products in exciting ways and help solve some of the world’s greatest problems.“

The report promises improvements across a wide range of industry categories including healthcare, water purification, materials, and information technology. Nanotechnology’s initial deployments in products ranging from automobiles to pharmaceuticals highlight its potential to improve consumer goods regardless of sector.

In another significant development, the United States Patent and Trademark Office on October 18 announced a new registration category for nanotechnology inventions.

About NanoBusiness Alliance:

The NanoBusiness Alliance's is the fasting growing industry group in the technology field. Our mission is to create a collective voice for the emerging small tech industry and develop a range of initiatives to support and strengthen the nanotechnology business community. These initiatives include: Research and Education; Public Policy; Public Relations; International Cooperation Activities, Trade Missions, and Events; Industry Support and Development Initiatives; Regional Hub Initiative; and others.