Nano-magnetic devices market in expected to witness a stellar growth. The opportunities in the
market are expected to touch a valuation of US$12.41 bn by the end of 2024. The market was
recorded at a value of US$7.2 bn at the end of 2016. This means nano-magnetic devices market is
projected to grow at an impressive CAGR of 6.98% during the forecast period.
Based on region, North America is expected to hold highest share in the nano-magnetic device
market during the forecast period. This is mainly because of the early adoption of the advanced
technology and high spending power of consumer in the region. Asia Pacific is expected to surpass
North America in terms of regional revenue by the end of forecast period. This is mainly due to the
increasing penetration of electric devices in China, Japan, India and South Korea. On the basis of end
user industries, the electronics and IT is extrapolated to accounts for the maximum revenue share in
the nano-magnetic devices
Major Key Players of the Non-Magnetic Devices Market are:
Intel Corporation, Samsung Electronics, LG Electronics Inc, Fujitsu Limited and Microsoft.
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High Investment for Integration and Testing of Nano-magnetic Devices to Hamper Prospects
• Along with this, increasing acceptance of the nano- magnetic devices in fuel cell and
hydrogen powered fuel cell making them more efficient, pocket friendly and commercially
• Despite several drivers, the nano-magnetic devices need through testing the manufacturers
in order to integrate them with other devices. The low budget assigned by the manufacturers
for new innovation and exploration is a major hurdle in the mass adoption of nano-magnetic
devices in several industrial sectors.
• However, unpreceded rise in urbanization and industrialization is one of the major driving
force for nano-magnetic devices market. Additionally, increasing use of sensors acro