Nanotechnology and the new technological revolution: Expectations and reality

Abstract

This paper reviews the existing mechanisms of innovative development in the world economy focusing on emerging technologies markets evolution on the example of nanotechnology. The question has been raised of whether nanotechnologies can provide the core of the new technological revolution, and whether these prospects exist for NBIC convergence. In this connection the development of the global market for nano-enabled products following the 2007–2009 crisis and the reliability of the related development forecasts have been assessed. Particular attention has been paid to peculiarities of nanoenabled product market structure and the impact of stagnating R&D costs in the field of nanotechnology.