According to a new market research report "Metamaterials Market by Device Type (Antennas, Superlens, Cloaking Devices, Absorbers), Metamaterial Type (Electromagnetic, Terahertz, Photonic, Tunable, Frequency Selective Surface, Non-Linear), Application & Geography - Trends & Global Forecasts to 2025" published by MarketsandMarkets, the value of Metamaterials Market is expected to reach $643 Million by 2025, at an estimated CAGR of 41.25% from 2015 to 2025.
Another fast growing segment for metamaterials is the medical instrumentation sector. Research andDevelopment is going on to develop many innovative products which will enable and help doctors to serve and treat patients in a more easy and effective manner. Research is being carried out at St. Petersburg Laboratory in order to inculcate MRI scanning with metamaterials so as to increase its capabilities and offer better images with a higher resolution. The team is working on ways to provide sub-wavelength resolution for MRI using metamaterials. However, a lot needs to be done for the commercialization of these prototypes which are extremely large currently and barely fit inside a conventional MRI scanner.
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Aerospace and defense segment holds the key for an exponential growth of the metamaterials market as many metamaterial based applications are expected to emerge out for this segment such as cloaking devices, radomes, and antennas. Although these are in the development stage and applications like cloaking are still almost a decade away, the R&D activities by the U.S. Department of defense (DOD) and federal agencies like DARPA along with the major U.S. universities such as Caltech, to develop the aforementioned devices on a large scale arefuelling up the activities in these segments. Invisibility cloaks will enable the U.S. military to turn the concept of ‘invisible army’ into a reality. The DOD has also phased out many projects through Small Business Innovation Research/Small Business Technology Transfer (SBIR/SBTT) program to innovate and develop more applications based on metamaterials for the aerospace and defense segment.
Browse 69 Market Data Tables and 28 Figures spread through 175 Pages and in-depth TOC on "Metamaterials Market"
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The concept of metamaterials caught major attention when Professor David R. Smith of Duke University and his team created an invisibility cloak that was able to divert microwaves around the object placed behind it, rendering it invisible. Although invisibility cloaks have not yet made it to practical applications, developments such as these have given the researchers an opportunity to venture into the wide scope of potential applications where metamaterials could reach possibilities which are impossible through the use of any other material. The increase in Research and Development activities to achieve technological advancements in metamaterial is one of the key factors that is expected to drive the Metamaterials Market in the future. Telecommunication applications will be the highest revenue generator for this market during the forecast period.
The report's detailed segmentation by type of metamaterial, by devices, by application, and by geography covers all the market-ready as well as under-development metamaterials in the market. The major types that have been extensively covered in the report are electromagnetic, terahertz, photonic, tunable, frequency selective surface-based and nonlinear metamaterials.
A spin-off of Intellectual Ventures, Kymeta plans to commercialize the Metamaterial - Surface Antenna Technology (M-SAT) to be used for next generation satellite communications for mobile and fixed applications. This technology is based on metamaterials and dynamically guides the beam toward the satellite with no moving parts, thereby providing users with more flat, light in weight, thin, efficient, and less expensive antennas. The company is also developing metamaterial based fixed antennas along with antenna modules for moving platforms such as airplanes, automobiles, and vessels. Kymeta aeronautical terminal is one of a kind as it enables the delivery of broadband Internet access to passengers on commercial airlines.The biggest advantage for Kymeta is that being a spin-out of Intellectual Ventures, it already has a large patent portfolio of metamaterial based technologies, thus giving an edge over its competitors. The company has also received fundingfrom big investment firms such as Lux Capital and also from Bill Gates, the ex-CEO of Microsoft, thereby allowing the company to build a strong foundation for itself.
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The Metamaterial Market statistics are given by the type of metamaterial, devices, application, and geography. Few of the much talked about metamaterial devices such as antennas, superlens, cloaking devices, and absorbers have been discussed in detail, along with their potential market value during the forecast period. The application segmentation of the market covers all the major applications like Aerospace and Defense, Medical Instrumentation, Optics, Sensing, and Telecommunication.
Apart from the market statistics, the report also includes qualitative analysis like the value chain with detailed process flow diagram; market dynamics such as drivers, restraints, and opportunities; burning issues; and winning imperatives for the overall metamaterials market.
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