Home > Press > Nanotechnology Poised to Revolutionize Tech
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.
Copyright © NanoBusiness Alliance
If you have a comment, please
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
Air Force’s 30-year plan seeks 'strategic agility' August 1st, 2014
IBM Announces $3 Billion Research Initiative to Tackle Chip Grand Challenges for Cloud and Big Data Systems: Scientists and engineers to push limits of silicon technology to 7 nanometers and below and create post-silicon future July 10th, 2014
Virus structure inspires novel understanding of onion-like carbon nanoparticles April 10th, 2014
Local girl does good March 22nd, 2014
New synthesis method may shape future of nanostructures, clean energy: Findings advance efficient solar spliting of water into hydrogen fuel September 2nd, 2014
Accounting for Biological Aggregation in Heating and Imaging of Magnetic Nanoparticles September 2nd, 2014
Engineers develop new sensor to detect tiny individual nanoparticles September 2nd, 2014
Future solar panels September 2nd, 2014
Secure Computing for the ‘Everyman': Quantum computing goes to market in tech transfer agreement with Allied Minds September 2nd, 2014
New analytical technology reveals 'nanomechanical' surface traits August 29th, 2014
AQUANOVA receives Technology Leadership Award 2014 FROST & SULLIVAN honors NovaSOL® Technology again August 12th, 2014
Blacktrace Holdings Ltd. to in-license PerkinElmer Technology August 8th, 2014