Nano-Magnetic Devices Market: Developing Countries to Contribute for the Market Growth

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Key market players in the nano-magnetic devices market are Intel Corporation, LG Electronics Inc., and Samsung Electronics. The rise in demand of nano-magnetic device is fuelled by the increase in demand of nanotechnology. There is a never ending demand of nanotechnology because of the requirement of size reduction and compact performance of electronics. Increase in demand of effective and energy efficient devices is driving this market reports Transparency Market Research.

According to a research report, the world nano magnetic devices market is estimated to reach US$12.41 bn by 2024. The CAGR is expected to expand at 6.98% during the forecast period.

The need for nano-magnetic devices has already become an essential requirement in several manufacturing process. The need for nano-magnetic devices in developed nations is offering a promising growth to the global market. The use of nanotech in cutting-edge manufacturing has become one of the important agenda for emerging economies like India and China, said a TMR analysts. The world nano-magnetic devices market is fuelled by the mounting demand for microelectronics in manufacturing of solar cells, flat panel displays, and microchips.


Progress of nonmagnetic for wireless charging is gaining a lot traction in the market. Wireless power transfer requires magnetic materials of high materials for activating complex functions like inductive coupling and electromagnetic interference shielding. Inductive coupling is renowned technique in wireless power system. Rise in demand for the usage of nano-magnetic devices in medical, genetics, and sensor segments is predicted to increase during the forecast period. The growth is also carried by the need of nano-technology enabled sensors used in biological, physical and chemical sensing. These sensors allow specific recognition, sensitivity, multiplexing capability for a various kind’s safety, environmental, and health assessment.

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