Nanowires are tiny wires which have very thin diameter in order of nanometres. Nanowires are used for connection in embedded circuits of compact electronics devices. The global nanwire market is expected to grow at a CAGR of 31% during the forecast period 2016-2023. It facilitates excellent conductivity of electric current , enhances the performance of the devices thereby producing stable output results. Therefore nanowire is widely used in variety of applications in consumer electronics, magnetic devices, electronics, optoelectronics etc. Nanowires are extensively used in solar cells in order to enhance its performance and efficiency as compared to the conventional solar cells.
North America has emerged as the leading market region for nanowire due to the presence of many leading nanowire manufacturing companies headquartered in United States. Moreover, nanowire has vast number of applications in transparent conductors and other electronic devices. Asia Pacific and North America have emerged as a leading market for transparent conductors and accounted for market revenue share worth $3100 million in 2015. Asia Pacific is the fastest growing market owing to the increased production of nanowire batteries in developed countries such as Japan and China.
The global nanowire market is influenced by the leading companies such as ACS material, Blue Nano, Cambrios Technology Corporation, 3M, US Nano, etc. Product launch, joint venture, merger and acquisition etc. are some of the crucial strategies adopted by the key market players to gain competitive advantage.
Global nanowire market report covers segmentation analysis of product type and application. Report further covers segments of equipment type which includes metal nanowires, semiconductor nanowires, oxide nanowires, multi-segment nanowires and semiconductor quantum wires. Among these segments, Semiconductor nanowire had accounted for highest revenue share in 2016. This is due to the increased adoption of semiconductor nanowires in solar cells in order to enhance its efficiency. Also, the start-up company SolarVoltaics gathered funding of $9.4 million in order to produce solar cells based on the nanowire technology. Semiconductor wires are also extensively being used in battery electrodes solar cells, sensors and biology. Semiconductor quantum wires are also widely used in optoelectronic applications. Applications of nanowire includes consumer electronics, magnetic devices, biological labels, chemical and biological sensors, electronics, optoelectronics, solar cells etc.