Metamaterials Market:
Growth opportunities in the Metamaterials Market look promising over the next six years. This is mainly due to their increasing demand for modeling & simulation to perform the various operation in industrial sectors and rising employment across major end-use sectors, including medical, aerospace and defense, consumer electronics, and automotive.
Metamaterials Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Several prominent drivers stimulating the growth of the global metamaterials market include the increasing preference to implement these materials across several information and technology applications, augmenting demand for mirroring and reproducing of the devices for industrial purposes, and the surging emphasis on the introduction of effective solar power solution. Also, the mounting focus to employ the material across several healthcare and biomedical operations is strengthening the metamaterials market size. The material is further utilized for power plants, smart metamaterial antennas for 5G networks and satellites, and mechanically scanned array platforms for self-driving cars & drones will supplement the market share. However, as per the metamaterials market research, insufficient knowledge, excessive research, and design cost for successful execution in real-time functions and complexities concerned with design and fabrication may hinder the market growth.
Vertical Segment Drivers
Based on the Vertical, Aerospace and Defense is projected to expand at a higher CAGR during the forecast period. This is primarily attributed to their largest market size in terms of value. They mainly require customized solutions for communication. Also, the majorly endorsed metamaterial-based equipment are antennas, protective layers, windscreens, EMC shielding, and cloaking devices. These antennas can be applied for safe communications in the defense sector as they can be tuned to different bandwidths. Thus, the rising need for bandwidth and demand for secure communication further bolsters the market growth.
Application Segment Drivers
Based on the Application, Communication Antenna and Radar (BeamSteering) is expected to witness a faster CAGR during the forecast period. This is because of their soaring demand applications such as satellite communication, Wi-Fi routers, radar communication, and 5G communications.
Metamaterials Market’s leading Manufacturers:
- Mediwise
- Nanohmics Inc
- Echodyne Corp
- JEM Engineering
- Kymeta Corporation
- MetaShield LLC
- Multiwave Technologies AG
- TeraView Limited.
- Metamagnetics
- Kymeta Corporation
Metamaterials Market Segmentation:
Segmentation by Technology
- Electromagnetic
- Terahertz,Photonic (Optical)
- Tunable
- Frequency Selective Surface
- Other
Segmentation by Application
- Communication Antenna and Radar (BeamSteering)
- Sensors
- Solar Panel and Absorbers
- Display
- Medical
- Imaging
- Windscreen
- Other
Segmentation by Vertical
- Automotive
- Aerospace and Defense
- Consumer Electronics
- Medical
- Energy and Power
- Other
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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