Nanotechnology is the manipulation, creation, production and manufacturing of materials and or extremely small devices at the scale of atoms or small groups of atoms. Nanotechnology taps into the really strange properties and attributes of physics. Yes, once again, like quantum technology the weird world of physics. Nanotechnology emerged way back in the 1980s. It came to light shortly after the scanning tunneling microscope came into being and enabled nanotechnology research and development. The subject matter became quite popular when thought-leaders began to theorize its potential applications. It began to grow in public awareness in the early 2000s after the technology accelerated and a number of real-world uses came about. Today, the technology is advancing and beginning to mature with a number of players in this field. Market estimates, like most emerging technologies are quite broad. Most believe the compound annual growth rate (CAGR) is in the double digits at least through 2025. The global market estimates have been put as high as nearly $100 billion USD by then.
Arguably the largest segment of the nanotechnology market is in nano-materials. Industry analysis shows applications of this segment include construction materials, materials for 3D printers, healthcare materials, layers of graphene, nano-rods, nano-wires and military products. For a bit closer look at an application, consider the use of nano-materials in the oil and gas extraction efforts. There are nanotechnology-enabled gas lift valves that are used in offshore operations and nano-particles are used to detect oil pipeline fractures. It is even being used in food processing as a protective barrier and mask different tastes/flavors. So, as you can see from use in food to use in pharmaceuticals to the creation of military goods, nanotechnology has quite a span of applications. Now consider the nanotechnology and biotechnology have started working together, the overall application is quite large. (Biotechnology will be the subject of an upcoming blog.)
INSIGHT: While researching this blog I came across a few nanotechnology project manager positions that were available. Once again with the double digit CAGR, there are a number of project management positions that are likely to spring up and be available in the next few years.
There are several nanotechnology introductory courses available out on YouTube for any of you that may like to venture into this field or expand your professional expertise. After all, with the projected growth, the use of nanotechnology and its numerous applications are likely to become a part of many projects.
PLEASE participate in my nanotechnology poll: https://www.projectmanagement.com/polls/645327/How-comfortable-are-you-with-your-current-level-of-nanotechnology-knowledge-and-its-business-impact-