Metamaterial Technologies Market Trend & Forecast

Market Insights

The metamaterial technologies market is projected to grow from USD 526.96 million in 2022 to USD 2956.31 million by 2028 at a CAGR of 33.20% during the forecast period.

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What is a metamaterial?

A metamaterial is any material, which consists of property that is not found in naturally occurring materials. These are made from a combination of different elements fashioned from composite materials such as plastics and metals. The materials are generally arranged in repeating patterns, at scales that are smaller than the wavelengths of the phenomena they affect.

COVID-19 Impact Analysis

The COVID-19 pandemic has moderately affected the metamaterial technologies industry as a result of the shutdown of production activities in different industries. Moreover, supply chain disruption and restricted transportation further affected the market growth, amid the pandemic.

Market Drivers

The market is driven by a host of factors, some of which are noted below:

• The rise in mobile wireless communication systems.
• The growing high-skilled researchers, and the significant demand for antennas & radars.
• Growing demand for antennas & radar due to stringent safety requirements in the defense sector, and these radars enabled any obstacles conducted in low visibility conditions, which augments product usage.
• Moreover, broadband antennas and conventional resonants are substituted by metamaterial antennas in wireless communications, thus offering lucrative growth opportunities to the market players.

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Segment Analysis

Application Trends

The market has been classified into communication and radar, imaging, solar, and acoustic devices. Under these, the communication and radar segment held a substantial market share in 2022 and is likely to grow at a considered CAGR during the forecast period.

This is mainly attributed to increased applications in space communication, wireless communication, satellites, GPS, and commercial, civil, and defense radar, which bolsters segment growth.

Regional Analysis

The North American market held a significant market share in 2022 and is projected to grow at a healthy CAGR in the coming years.

This growth is mainly ascribed to a strong presence of product manufacturers in the region coupled with generous grants by the U.S. and Canadian governments for research on optical, radio & microwave, and acoustic products thereby proliferating the regional market growth during the forecast timeline.

Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories:

 By Product

• Radio and Microwave
• Photonic
• Terahertz
• Acoustic

By Application

• Communication and Radar
• Imaging
• Solar
• Acoustic Devices

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

Key Players

Some key players operating in the metamaterial technologies market are-

• Applied EM (US)
• Alight Technologies ApS (Denmark)
• Colossal Storage Corporation (US)
• Echodyne Corporation (US)
• Evolv Technology (India)
• Fianium (UK)
• Fractal Antenna Systems (FRACTAL) (US)
• Inframat Corporation (US)
• Kymeta Corporation (US)
• Luminus Devices (US)

Target Audience

Here is the list of the group of customers that the market hopes to have the greatest opportunity to convert-

• Metamaterial Technologies companies
• Metamaterial Technologies distributors
• Communication companies
• Government organizations

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market

What Deliverables Will You Get in this Report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.