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Major Factors Driving the Growth of IoNT Market

Major Factors Driving the Growth of IoNT Market

Nanoscale devices and systems characterized with their size of 100 nanometer and below are predominantly used to study phenomena such as near field behavior in electromagnetics and optics, single-electron effects and quantum confinement in electronics and other effects in biological, fluidic and mechanical systems. Internet of nano things (IoNT) is the interconnectivity of such nanoscale devices over the internet and other communication networks. The Internet of Nano Things (IoNT) provides seamless communication and transmission of data for the given range of operations.

Increasing interconnection of nanosensors and nanotechnology with consumer devices and other physical assets have led to an immense growth in the scope of internet. Internet of Nano things (IoNT) provides capabilities for inter-communications between nano devices for data collection, processing and sharing with the end-users. IoNT has found applications in various industries such as healthcare, manufacturing, transportation and logistics, energy and utilities, media and entertainment, retail and other services.

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Internet of Nano Things (IoNT) infrastructure can be deployed as a combination of various nanotechnologies and nano devices. The IoNT infrastructure depends on the area of operation and required bandwidth for a particular application. Deployment of IoNT infrastructure provides high speed of communication and reduces the bandwidth pressure on existing communication infrastructure. The growth of the Internet of Nano Things (IoNT) primarily focuses on improving processing capabilities, providing larger storage capacity at lower costs and increasing the role of communication terminals. The IoNT infrastructure can be deployed in various eco-systems such as electro-magnetic waves, Wi-Fi, Li-Fi, radio frequency identification (RFID) and nano antenna.

One of the major factors driving the growth of IoNT market is the rise of ubiquitous connectivity. With the increasing number of computer devices and interconnection capabilities over the internet, various industrial applications of IoNT have been identified. The interconnection of nano devices has enabled efficient communication of data between different devices or components of a system. Thus, through IoNT, organizations are able to reduce the complexity in communication and increase the efficiency of processes using such connected devices. Moreover, government’s support for the development of IoNT technology for healthcare has further increased the demand and awareness of IoNT. However, the growth of the IoNT market faces a few challenges due to privacy and security issues. Since critical data is communicated between devices over the internet, concerns related to security of the data have risen. Another factor which hinders the growth of IoNT market is the huge capital investment required for the development of nanotechnology.

Immense growth opportunities of the IoNT market have been identified through its applications in various sectors such as healthcare, transportation, logistics, manufacturing, media, entertainment and retail. With technological advancements in the IoNT, the scope of IoNT and its applications is on the rise. Major companies are conducting research on nanotechnology and constantly developing nano systems with wider scope of applications. Some of the major players in the IoNT market are Intel Corporation, Cisco Systems Inc., Qualcomm Incorporated, Juniper Networks and IBM Corporation in U.S., Schneider Electric and Alcatel-Lucent S.A. in France, and SAP S.E. and Siemens AG in Germany among others.


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