Pentium 4 having ICs with dimensions to the scale of 95 nm, the electronics entered the nano world in a a very big way. The dimensions are squeezed continuously to 65 nm and in 2007 to 45nm as claimed by both IBM and Intel. Both these companies are further eyeing to reach 15nm. Micro Electro Mechanical Systems (MEMS) and Nano Electro Mechanical Systems are integrating mechanical elements, sensors, actuators, and electronics on a common silicon substrate through micro and nano fabrication technology.The scope is unlimited with quantum dots, SETs and spintronics. Quantum dots semiconductor crystals only nanometers long are among the most promising candidates for quantum computers. Scientists can cram electric charges into quantum dots so they behave like puddles of electrons. The key to using quantum dots in quantum computing is their property known as spin. The memory increase is also on the increase. We are about to see the entire American State Library entering into a sugarcube size MRAMs and DRAMs. Because of its non volatility, nondestructive reading, fast access speed and high density, MRAM is a major emerging memory device, and leading semiconductor manufacturers of the world are racing to deliver their products to the market. The smart machines are going to equip production equipment with sensing systems that can anticipate the earliest beginnings of anything that could lead to machine downtime. The concept is intended to predict and prevent equipment failure. The developing field of nanoelectronics could offer cost-effective improvements in configuring the embedded intelligence systems required. This and much more is the subject of study of this paper.