Think of old radio sets made of tube valves. Transistors replaced valves and the radio shrunk to pocket size. Then electronic circuits were replaced by silicon chips. Hence the radio set shrunk further and embedded in smart phone today.
The miniaturization is more pronounced and visible in electronics. but the phenomena happens in all the fields.
Fans, lamps,(CFL, LED), motor pumps, grinders, car engines, fordable umbrella, contact lenses, button cells, phones, speakers(ear phone), clocks, machines and tools and what not. Everything has shrunk.
ADVANTAGES OF MINIATURIZATION
1. It is affordable.
2. Space saving , raw material saving
3. less energy, less pollution.
4. It is portable
5. highly efficient.
MOORE'S LAW
"The law is the observation that the number of electronic components in a silicon chip (integrated circuits) doubles approximately every two years".
The law has been guiding electronic industry for a long time. It is the driving force of technological change, productivity and economic growth.
We experience the Moore's law in our hands. The smart phone has become thin, but its performance has increased many folds. We are able to enjoy a full length movie on the phone screen with great clarity and sound quality.
FUTURE
In the field of nano-technology, machines and tools will be constructed using molecules. For example; nano-car will carry the drug in our veins through the blood stream and will deliver it in the proper location in the body. So miniaturization or even 'microzation' is welcome.
IN A LIGHTER VEIN: If we have broad mind, small cars and compact house is enough for us and good for the environment. The micro blogging site twitter is more popular and read than Tolstoy's great epic 'war and peace'.
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