The internet of nano things is very much similar to the internet of technology in which the devices that are interconnected with IoNT are miniaturized.

- The development of nano-machines with communication capabilities and interconnection with micro- and macro-devices will empower IoNT, which is being increasingly seen as the next major innovation in technology. These devices have dimensions ranging from 1 nm to 100 nm and are interconnected with classical networks leading to new networking paradigms.

- The increased government spending in the aerospace and defense sector is expected to drive the IoNT market for the forecast period as IoNT recently has found major applications in the fields of Nano-drones that could be used for monitoring and carrying explosives sufficient enough that penetrates the targetted subject.

- The technological advancements over the past few years have primarily led towards a rapid growth of smart environments (offices, homes, cities, among others). This rapid increase of such environments have paved the way for the interconnectivity of applications and the usage of the Internet prompting emergence of the Internet of Things (IoT) technology. The expansion of the IoT concept has also given access to the Internet of Nano Things (IoNT), which is new communication networks paradigm that is primarily based on nanotechnology and IoT.

- The manufacturing sector with the integration of the autonomous and embedded sensors through a combination of micro and nanosystem technologies are revolutionizing the self-powered, high bandwidth devices that are used for advance manufacturing (AM), artificial intelligence (AI), and IoT.

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Key Market Trends

Healthcare Industry is Expected to Hold a Significant Share

- The expectations of a better quality of life coupled with the aging population and the changing lifestyles have resulted in an increase in demand for more efficient and affordable and improved healthcare.

- The development of nanomedicine primarily uses the properties of a material developed on a nanoscale offering the potential to cross natural barriers and access new sites of delivery. This nanometric size allows interaction with the DNA or small proteins at different levels in the blood or within organs, tissues, and cells.

- With advancements in the fields of nanotechnology has allowed in the detection of diseases in very minute amounts or in the initial stages. For instance, in April 2019, a pair of NJIT inventors Bharath Babu Nunna and Eon Soo Lee has been instrumental in developing nanotechnology enhanced biochip to detect cancers, malaria and viral diseases such as pneumonia early in their progression with a pinprick blood test.

- The convergence between ICT and medical fields reflect the emergence of seamlessly-connected sensors and devices that can improve healthcare services and an expectation-improved IoT utilization in healthcare. The adoption of IoT in the healthcare sector and increasing demand to support M2M and M2H communication can be owed to the advanced medical equipment.

North America is Expected to Hold the Largest Share

- Various harmful diseases are proving to be a tremendous challenge for modern medicine. This, coupled with growing consumer health awareness in the region, means for more advanced technology. Nanomedicine was introduced in this industry to overcome this hurdle since it offers a number of potential ways to improve medical diagnosis & therapy, even in regenerating tissues and organs.

- Various companies have been instrumental in developing devices that drastically help the person to improve breathing especially for asthma and allergy sufferers. For instance, Molekuile's Air purifier that was developed by Dr. Goswami, the Director of the University of South Florida's Clean Energy Research Center uses brand new nanotechnology that is far superior to the HEPA air filters.

- The increasing initiatives by the government and the regulatory bodies that enable them to boost IoT adoption across the region is one of the prominent factors that is anticipated to fuel the market’s growth over the forecast period. For instance, in July 2019, the US lawmakers introduced the “IoT Readiness Act” that directs the Federal Communications Commission (FCC) to determine how much spectrum is necessary to meet the demands of the anticipated growth of IoT devices.

- In addition, the cost-effective manufacturing owing to the compactness of the nanosensors is expected to bring a positive transition in the nanosensors market. Moreover, the rapidly rising demand for smaller and faster portable diagnostic sensing systems is one of the major factors driving the growth of nanotechnology in biomedical and healthcare segment in the North American region.

Competitive Landscape

The internet of nano things market is highly competitive and consists of several key players like Schneider Electric, IBM, Intel and many more. However, the market remains consolidated with many players trying to occupy the share. Their ability to continually innovate their products and services by investing significantly in research and development has allowed them to gain a competitive advantage over other players.

- Mar 2019 - Researchers at UCLA and two other universities have designed the first fire-retardant, self-extinguishing motion sensor, and power generator. The device could be embedded in the shoes or clothing that are worn by the firefighters, oil drillers, or other people that work in extreme temperatures or harsh environments. The self-powered sensor is a type of triboelectric nanogenerator.

- Dec 2019 - Physicist at the University of Sussex published a blueprint to help scientists in understanding, how to optimize the effectiveness of the nanomaterials that are used in health sensors. The nanomaterials offer great promise to provide the key to the wearable technology that can track blood pressure, pulse, breathing and joint movement in real-time wirelessly.

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