Nanoelectromechanical system (NEMS) devices are ideal for measuring mechanical and electrical functions of the devices. These devices integrate nanoelectronics with motors and other devices through biological, chemical or physical sensors. NEMS is the most advanced level of miniaturization of the microelectromechanical systems or MEMS. This system includes a number of sensors, devices, accelerometers, tweezers, gears, actuators, cantilevers and numerous other nano devices. Their strength to take the individual atoms and molecules towards the ultimate miniaturization is the biggest reason behind the increased revenue in the nanoelectromechanical systems market.
NEMS devices are low mass and have a great electrical strength. They have potentially larger quantum mechanical effects and high mechanical response. These devices can use multiple frequencies on a single chip and they also have great size reduction properties. Cost reduction is also a major factor concerning these devices. all these features make then nanoelectromechanical devices stand out in terms of various applications and tremendous industrial demands. The devices based on this technology make movements on the nanometer level. Hence, these are considered as the structural elements less than 100nm compared to the MEMS devices.
The nanoelectromechanical system devices have numerous applications in various industries. Applications of the NEMS devices are divided into three major categories, namely, solid-state electronics, tools-equipment and sensing-control. The basic fields of application of these devices include automotive, sensors, medical, microscopy and medical. In order to draw accurate conclusions about the growth rate of the nanoelectromechanical market, one needs to study all these application fields. When it comes to NEMS products, they are categorized as nano-fluidic modules, nano-cantilevers, nano-tweezers and nano-accelerometers. Various nano tubes, wires, belts and films are also used.
Nanoelectromechanical systems devices are produced with help of overall 17 different raw materials. These materials are basically divided into three categories, namely, insulators, semiconductors and metals. The nanoelectromechanical systems market is set to witness explosive growth in terms of increased demands and applications. Various technological advancements in this technology will provide added business opportunities and revenue channels for the key players. The market is estimated to grow at a whopping CAGR of 29.7%. It is expected to reach past $108.88 million at the end of 2022. As of 2012, North America is the leader of the NEMS market in terms of revenue and market share.
The tremendous growth in the NEMS market is creates great opportunities for the key players and new investors who are looking for business expansion in various regions of the world.
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