Feb. 5, 2004 — The total global demand for nanoscale tools and technologies is expected to increase an average of 30 percent a year to reach nearly $29 billion by 2008, according to a new report.
Business Communications Co. Inc.’s report, “Nanotechnology: A Realistic Market Evaluation,” estimates the current nano market at $7.6 billion. The market is roughly comparable to biotechnology and far smaller than the $800 billion global informatics market, but nanotech is believed to be growing more than twice as fast as either of the other two, the report said.
The report assumes a continued economic recovery, as well as high levels of government support and venture capital investments in the nano-related firms. But it said the emerging technology must overcome various technical and marketing hurdles.