LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global nanobots market to grow at a CAGR of around 22% during the forecast period, according to their latest market research report.
The use of nanobots in the oil and gas industry is one of the major trends being witnessed in the global nanobots market 2018-2022. Nanobots are expected to be used in the oil and gas industry apart from intended use in the healthcare industry. In the oil and gas industry, trillions of nanobots and minuscule hydrophilic carbon clusters can be injected into geologic formations thousands of feet below the ground and pulled back to the surface. Changes in the chemical makeup of nanobots will help petroleum geologists to draw valuable insights about the reservoir.
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According to Technavio analysts, one of the key factors contributing to the growth of the global nanobots market is the developments in nanotechnology:
Global nanobots market: Developments in nanotechnology
Nanotechnology is developing at a rapid pace, which is positively impacting the global nanobots market. Nanotechnology is the science of manipulating matter on an atomic level to enhance its core properties and characteristics. The technology makes use of nanoscience to build a technology ecosystem. Multiple semiconductor components are manufactured using nanotechnology including quantum dots, CNTs, and other nanoparticles.
According to a senior analyst at Technavio, “Nanotechnology has a significant impact on nearly all sectors of the global economy, namely electronics, energy, biomedical, cosmetics, defense, automotive, and agriculture among others. Factors such as advances in technology, increasing government support and private sector funding for R&D, growing demand for miniaturization of devices, and strategic alliances between countries are expected to drive the global nanobots market.”
Global nanobots market: Segmentation analysis
The global nanobots market research report provides market segmentation by application (healthcare and others), by type (microbivore nanobots, respirocyte nanobots, clottocyte nanobots, and cellular repair nanorobots), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Based on the application segment, the healthcare segment held the largest market share in 2017, contributing to almost 100% of the market. However, the segment is expected to decline by 2022 with a share of around 96%.
The Americas held the largest share of the market in 2017, accounting for close to 45% share. It was followed by EMEA and APAC respectively. The dominance of the region is due to the rapid adoption of nanobots in the healthcare sector. Both EMEA and APAC are expected to witness steady growth, however, the market growth in the Americas will affect the investment share of EMEA and APAC during the forecast period.
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