Metamaterials Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020
Albany, NY (PRWEB) March 04, 2015
According to the report, the global meta materials technologies market was valued at US$ 322.6 Mn in 2013 and is projected to reach US$ 1,268.4 Mn by 2020, expanding at a CAGR of 21.6% between 2014 and 2020.
The rise in global mobile wireless communication services and increase in preference for highly efficient solar photo voltaic cells are anticipated to augment demand for meta materials during the next six years. Furthermore, venture capital firms are providing funds to potential metamaterial manufacturers, especially in North America. This is estimated to boost the market for metamaterials technologies. Metamaterials are periodic materials that derive properties from their structure rather than components. Metamaterials make possible the manipulation of fields and waves at a subwavelength scale. However, technical challenges in high volume fabrication of metamaterials and lack of commercial awareness among consumers is projected to hamper market growth.
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In terms of products, metamaterial technologies can be segmented into radio & microwave metamaterials, photonic metamaterials, terahertz metamaterials, acoustic metamaterials and others (including infrared metamaterials and ultraviolet metamaterials). In terms of revenue, radio & microwave frequency electromagnetic metamaterials segment accounted for approximately 50% share of the global metamaterials technologies market in 2013.
Application segments include communication & radar, imaging (medical & industrial), solar, acoustic devices and others. In terms of revenue, communication & radar is estimated to be the largest and fastest growing segment of the global metamaterials technologies market in the next few years. Communication & radar applications constituted more than 60% share of the global metamaterials technologies market in 2013. Imaging (medical & industrial) was the second-largest segment of the global metamaterials technologies market in 2013. The others segment includes microwave cloaking devices and seismic protection.
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North America is anticipated to be the fastest growing market and highest revenue generating region during the forecast period. The metamaterials technologies market in North America is expected to expand at a rapid rate, due to substantial investments by venture capital firms in startup metamaterial companies and government grants provided to research projects for defense applications. In terms of revenue, the region accounted for over 55% of the metamaterials technologies market in 2013. Asia Pacific and Europe are also likely to experience high growth rate, due to active collaboration between universities and metamaterial companies to develop products for civilian applications.
The metamaterial technologies market is highly fragmented in nature; it is dominated by startup metamaterial companies based in North America. Key players operating in the metamaterials technologies market include Kymeta Corporation, Metamaterial Technologies Inc (MTI), Metamagnetics Inc, Echodyne Corporation, Evolv Technology, Medical Wireless Sensing Ltd (MediWise), Applied EM Inc, Alight Technologies ApS and Fractal Antenna Systems, Inc. (FRACTAL).
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The report segments the global metamaterial technologies market as:
Metamaterials Technologies Market – Product Segment Analysis
- Radio & microwave metamaterials
- Photonic metamaterials
- Terahertz metamaterials
- Acoustic metamaterials
- Others (Including infrared metamaterials, ultraviolet metamaterials, etc.)
Metamaterials Technologies Market & Application Analysis,
- Communication & radar
- Imaging (medical & industrial)
- Acoustic devices
- Others (Including cloaking devices, seismic protection, etc.)
Metamaterials Technologies Market - Regional Analysis,
- North America
- Asia Pacific
- Rest of the World (RoW)
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