Nanotechnology will soon become a household word. It is a cutting-edge technology that will revolutionize many sectors of manufacturing over the long-term. The situation is somewhat analogous to that of biotechnology and genetic engineering—a field that, 15 or 20 years ago, few people could even define. Even fewer could envision how the biotechnology industry would fundamentally change the development of drugs and diagnostics. Likewise, few consumers or business executives realize the extent to which nanotech, over the mid-term, is going to change the materials they use everyday. Both investment in nanotechnology research and the market for nanotech products are expanding rapidly. Globally, governments in developed nations are pouring about $12 billion annually into research and development of nanotechnology projects. The U.S. government alone invests about $1.4 billion yearly, an increase of more than 10-fold since 1997. The National Science Foundation in America estimates the global market for products containing nanotechnology to be $1 trillion yearly by 2015. The Japanese government is investing about $1 billion yearly in nanotech research. Throughout this period of rapid growth, several trends have influenced the industry:

1. Nanotechnology Holds the Key to the Ultradense Digital Memory of the Future.

“Universal memory” is a new phrase used to describe future-generation digital memory storage systems that would be ultradense and run on extremely low power needs. Potentially, universal memory could replace today's flash memory, RAM and many other types of memory. The technology may be based on the use of vast numbers of tiny carbon nanotubes resulting in the storage of trillions of bits of data per square centimeter. Early potential uses should include PDAs, cell phones, digital cameras and MP3 players.Innovations in Bucky Balls, Nanotubes and Single Wall Nanotubes (SWNTs) Make Commercial Production a Reality.

2. Nanotechnology Sees Applications in Fuel Cells and Solar Power/Micro Fuel Cells.

Potential methods of generating energy with nanotechnology are nearly boundless. However, the most immediately promising possibilities are for solar and fuel cell power. Michael Graetzel, a Swiss scientist, invented a new kind of solar cell that uses dye molecules and titanium dioxide. This enables manufacturers to place highly efficient and versatile solar cells in flexible plastic sheets, rather than the traditional glass and silicon cells.

3. Nanotechnology Converges with Biotech.

Because of their small size, nanoscale devices can readily interact with biomolecules on both the surface and the inside of cells. By gaining access to so many areas of the body, they have the potential to detect disease and deliver treatment in unique ways. Nanotechnology will create “smart drugs” that are more targeted and have fewer side effects than traditional drugs.


To find out more about these exciting trends and others, check out Plunkett’s Consulting Industry Almanac 2008, or go to www.plunkettresearch.com and sign up for a subscription to Plunkett’s completely up-to-date online database!

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