Market Trends of Internet Of Nano Things Industry
The Healthcare Segment is Expected to Hold a Significant Share
- Nanotechnology and the internet of nano things (IoNT) have continuously impacted the healthcare segment and its transformation and contributed to better results. Including nanotechnology in medicine through nanomaterials and devices, known as nanomedicine, has brought many benefits to disease prevention, diagnosis, and treatment. The healthcare and life sciences area is predicted to grow rapidly during the forecast period. IoNT can detect life-threatening disorders early on and assists in the collecting of real-time data from patients, allowing for life-saving medical measures.
- According to the American Cancer Society, there were 1.95 million new cancer cases identified in the United States in 2023, with 609,360 cancer deaths. As a result, the rising number of cancer patients propels the healthcare nanotechnology industry forward. Nanotechnology products have been increasingly beneficial in healthcare, developing unique nanosystems for diagnosing, imaging, and treating various diseases, including cancer, cardiovascular, ophthalmic, and central nervous system ailments.
- Incorporating the concept of IoNT into healthcare has enabled more personalized, timely, and convenient health monitoring and treatment. Therefore, nanotechnology and IoNT have the potential to revolutionize healthcare in the 21st century completely, creating a system that enables early detection and diagnosis of illness, followed by accurate, on-time, and effective treatment, significantly reducing medical costs.
- The advancement of nanomedicines and nanodevices has spurred many researchers to seek alternative remedies, as current approaches are limited in earlier identification and treatment. The remarkable features and applications of diverse nanomaterials and nanosystems have made them ubiquitous in creating technologies that will be deployed shortly.
- The IoNT can also form a body sensor network (BSN) that easily applies internal nano-sensors to monitor patient health and physiological activity. The patient can view this data obtained by the nano-sensor on a wearable gadget with a doctor. As per data from the United States Patent and Trademark Office (USPTO), there are 6,926 published nanotechnology patent applications in the United States, followed by 1,715 in South Korea in 2023. These patents are testimonials of the market players investing in nanotechnology.
- Smart wearables have played a significant role in expanding the scope of IoNT in the segment. The massive adoption of fitness tracking devices and growing investments by companies like Apple, Fitbit, and Android enhance the range further by adding more healthcare features. Many startups are also bringing innovation to this segment.
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North America is Expected to Hold the Largest Share
- Modern manufacturing facilities in the United States rely on new technologies and innovations to produce higher quality products significantly with lower costs. Fast and secure 5G connectivity is expected to enable agile operations and flexible production. This technology is expected to facilitate automated warehouses, automated assembly, connected logistics, packing, product handling, and autonomous carts.
- Market players are investing in catering to innovative solutions for business growth. For instance, in October 2023, Intel announced its foray into the 1.8 nm production process, aiming to revolutionize the semiconductor industry and drive market dynamics. Intel Foundry Services (IFS) partnered with Arm, emphasizing the creation of low-power compute system-on-chips (SoCs) using Intel's 18A process. While the initial focus was on mobile SoCs, Intel and Arm are set on expanding into diverse sectors, including automotive, IoT, data centers, aerospace, and government applications.
- Among emerging technologies that are expected to emerge out of the existing technologies transforming manufacturing in the United States is the convergence of AI and IoNT, with companies like SAS Software touting IoNT as the next wave for IoT based upon nanotechnology.
- The key players across this region are developing new solutions to remain competitive. In January 2024, Telit Cinterion, an end-to-end IoT solutions enabler, announced cellular and satellite connectivity services on its ME910G1 and ME310G1 modules. This partnership between floLIVE and Skylo Technologies planned to deliver the new solution, ensures that mobile assets, including shipping containers, agricultural equipment, trucks, and other high-value assets, can be tracked and monitored anywhere, from rural highways to deserts and oceans.
- Also, the emerging 5G standards with new radio (NR) target capabilities, such as vehicle-to-everything and ultra-reliable low-latency communications, are used in industrial use cases. With industrial communication buses standardized by IEC, such as PROFINET and Modbus, the market is headed toward reliable and secure industrial adoption.
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