Nano Radiation Sensors Market Global Industry Analysis, Market Size, Opportunities And Forecast 2021-2031

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Manufacturers in the global nano radiation sensors market are boosting their output capacities to expand their revenue streams in automotive, consumer electronics, energy & utilities, defense & security, and industrial applications.

Manufacturers Ensure Business Continuity with Data-driven Decisions amid COVID-19 Crisis

The semiconductor industry has been severely affected due to shortage of chips amid the ongoing COVID-19 crisis. Nevertheless, companies in its subsidiary markets such as the nano radiation sensors market are establishing stable revenue streams in key applications of defense, power, and consumer electronics industries. They are taking data-driven decisions to ensure business continuity by address the scarcity of raw materials, which is likely to be experienced due to production stoppages and labor shortages. Several multinational companies (MNCs) have already started re-evaluating their supply chains, and are in the process of shuffling their supply chains to reduce concentration in a handful of countries.

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Nuclear Surveillance Applications Hold Potentials for Market Growth

Nano radiation sensors are largely used in nuclear surveillance and security applications, due to the increase in terrorist attacks involving nuclear devices & materials across the globe. The use of nano radiation sensors is helpful in detecting the presence of nuclear devices or materials.

Moreover, in an effort to support nuclear surveillance capability of a nation, multiple manufacturers in the nano radiation sensors market and research institutes are focusing on the development of technologically advanced nuclear radiation sensor devices for use at airports, border crossing, and ports. In these applications, scintillation detectors and solid-state detectors are used. A scintillation detector uses a single crystal of sodium iodide, whereas a solid-state detector uses germanium, a semiconductor material.

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Revenue Share of North America Likely to Outrun Developing Nations

In terms of region, North America is anticipated to dominate the nano radiation sensors market during the forecast period, owing to increase in technological advancements in the semiconductor industry in the region.

The nano radiation sensors market in Europe and Asia Pacific is expected to expand at a substantial rate during the forecast period. However, the market in South America and Middle East & Africa is estimated to expand at a moderate rate during the forecast period. Hence, semiconductor companies should increase the availability of affordable nano radiation sensors to encourage its adoption in various end-use cases.

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