Marketing make Nanotechnology to soar high in US

RNCOS: According to a prediction by US National Science Foundation, by 2015, the tot

global market for nanotechnology services and products will touch $ 1 trillion that is approx 10 percent of the current US GDP, requiring a workforce of 2 million. Nanotechnology firms are expecting to generate revenue of $25.6 Billion by 2006.

The US nanotechnology market, currently with around 400 nanotech companies, is an emerging market; where the initial stage of consequential research and development is being carried on products. Nanobio, surfaces, electronics, nano-materials, instrumentation and IT are some of the important fields.

Apart from scientific achievements, marketing channels’ involvement will be the major factor in revolutionizing nanotechnology. The boom in this sector is still on its way because of lack of awareness among end-users, investors and industry about the effects this technology could have. So, marketing channels like media, trade associations and trade shows have forward as primary links between commercial and social entities and technology developers, but with limited involvement.

By 2008, the US nanotechnology market will reach $ 3.3 billion and steadily, will cross $19.8 billion by 2013. .

The world Nanotechnology Market (2006) Publ 20060916