You may have heard of the internet of things or IoT which, according to Wikipedia, ‘describes physical objects with sensors, processing ability, software, and other technologies that connect and exchange data with other devices and systems over the Internet or other communications networks.’
But, have you heard of the Internet of Nano Things or IoNT, which connects nano-sensors and -devices to existing communication technologies including the internet? According to Mordor Intelligence’s latest report, (Global Internet of Nano Things Market 2022-2027), it is one of the fast growing markets, at 13.4 billion $US in 2021 and a Compound Annual Growth Rate (CAGR) of 22.4% for the period 2022-2027. While the Connectivity/Services market share is the largest in 2021 at 38.5%, the software development is expected to be have the fastest CAGR at 24.7% with end-user market in healthcare growing the fastest in that period. North America currently holds 33.1% of the market share, with the largest growth expected in the Asia-Pacific region in the next five years.
Nanodevices can be used not only to collect massive quantity of data, but they are also core components to the architecture of supercomputers that analyse the data as part of the new business and finance operating models. The nanocomponents integrated and interconnected within automated nanomachines are already finding applications in agriculture, biomedical and military industrial sectors. They are driving a paradigm shift in how such sensors interact and exchange information, providing information texture that was not accessible previously.
Leading the charge in terms of patents in 2021, are the USA, Germany, France, South Korea and Japan (StatNano). The ageing population issue in many of the G20 countries is one of the drivers of the application of IoNT for health monitoring and personalized medicine. While the security of the medical data that is gathered is a crucial challenge to address, there are other applications with large potential for impact such as monitoring the health of our forest, our crops and the security/safety of food that is produced and distributed through stable supply chains. Coming full circle, this is enabled by a nanocellulose-based materials platform for the fabrication of cost effective (bio) sensors for IoNT.
The Mordor report features an excellent current snapshots of technologies that are required for deployment of IoNT. The market segmentation is exhaustive and is provided by component, end-user, and geography, with an overview of the multinationals that dominate the market.
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