Metamaterials Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DM2540 | Last Updated On: Sep 01 2022 | Available Formats

> Global Metamaterials Market is Expected to reach a high CAGR of 59.5% By 2029: DataM Intelligence

Global Metamaterials Market is segmented By Product Type (Non-linear for the ICT industry, Terahertz, Electromagnetic, Tunable, Frequency Selective Surface, Photonic, Others), By Applications (Superlens, Cloaking devices, Antenna & Radars, Absorber, Others), By End-users (Medical Devices, Consumer Electronics, Aerospace & Defense, Automotive, Energy & Power, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

[150 Pages Report] The Global Metamaterials Market is expected to grow at a high CAGR of 59.5% during the forecasting period (2022-2029).

Metamaterials Market - Strategic Insights

 

Metrics

Details

Market CAGR

 59.5%

Segments Covered

By Light Type, By Source Type, By End-User and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Metamaterials are artificially structured materials arranged in repeating patterns used to mold and control electromagnetic waves' flow. The Metamaterials are composed of multiple elements which are used to transfer various physical waves. The materials have significant use in the electronics systems' advents, including satellites, communications, management of multiple systems and displays, and more than hundreds of systems. Rising demand for reconfigurable and tunable artificial electromagnetic materials in the telecommunications, aerospace, and defense system has propelled the Metamaterials market. These Metamaterials are used to control and manipulate light & sound waves and other physical phenomena. Metamaterials have many applications, including making sensors, cloaking, solar power management, Superlensing, light-emitting diodes, and high gain antennas in various remote aerospace applications. 

Market Dynamics:

The market is driven by the rising demand for wireless technologies for better communications through an antenna and mobile connectivity due to an increase in the number of internet users worldwide. As per the Congressional Research Service Organization report, the total number of internet-connected devices, including consumer devices and industrial devices like sensors predictive maintenance, smartwatches, smart meters, has been increased to 17.8 billion globally. This propels the demand for efficient communications systems, which the best metamaterials can achieve. Furthermore growing demand for Metamaterials in various applications, including Information and communication technology like radar antennas, industrial applications, and solar power solutions.

There is a rise in the adoption of advanced technology Metamaterials in various applications, including aerospace, drones, aircraft, and autonomous vehicles. For instance, on 6th Jan 2020, Echodyne Company developed the high-tech Metamaterials based radar beam on autonomous cars with EchoDrive systems. The radar beam is made from highly engineered surfaces with a pocket-sized radar unit for drones, autonomous cars, and aircraft.

Segment Analysis

The global metamaterials market is segmented based on product type, applications, end-users, and region.

The global metamaterials market is bifurcated into Non-linear, Terahertz, Electromagnetic, tunable, frequency selective surface, photonics, and others. The Electromagnetic segment has the highest market share in 2019 due to the increasing launching of advanced technology-based electromagnetic devices for communications. For instance, on 10th Oct 2017, the Company Astronics Ballard Technology launched an innovative aircraft communications server. This is the compact web CSS first highly-integrated smart AID, server, and router that connects avionics data with wired and wireless networks in a single compact box.

Similarly, Non-linear, Terahertz, tunable, frequency selective surface, photonics segments are also growing faster due to raising the global telecommunications demand for connecting the networks through efficient metamaterials for better connectivity all over the world.

Depending on the applications, the global metamaterials market is divided into Superlens, Cloaking devices, Antenna & Radars, Absorber, etc. Among these, Antenna & Radars segment had the highest share in 2019. This is primarily due to the rising utilization of the metamaterials-based radar and antenna in the satellite communications systems to boost surveillance capabilities for all-weather earth observation satellites with its synthetic aperture radar (SAR). For instance, on 23rd May 2019, the Indian Space Research Organization (ISRO) had been successfully launched the PSLV-C46 rocket, which has used advanced technology of 3.6m radial rib antenna (RRA) for imaging earth observation through satellite Risat-2B. This has boosted the country's surveillance capabilities to get clear images in forestry, agriculture, and disaster management support.

Similarly, the Superlens, Cloaking devices, Absorber segments are also growing faster due to increasing the adoption of advanced technology-based connected devices with a surge in the number of internet users. As per the recent news, the number of internet-connected devices has been increased to 22 billion globally in 2018 and is projected to reach 50 billion by 2050.

Depending upon the end-users, the global metamaterials market is segmented into Consumer Electronics, Aerospace & Defense, Automotive, Energy & Power, and others. Among these, aerospace & defense has the highest market share due to the increasing need for radars and antennas in the aerospace, defense, and military sectors to better performance of communication systems.

Similarly, consumer electronics, medical devices, automotive, and energy & power segments are also growing faster due to increasing demand for efficient medical devices, energy, and power utilities for serving huge global populations. As per the National Research University of Information Technologies report, the metamaterials can enhance MRI scan medical devices' sensitivity by 50%, resulting in extraordinary growth inefficiency. The metamaterials are the combination of artificial periodic structures that interact with electromagnetic radiation, enhancing the sensitivity of the MRI scanners

Geographical Presentation

By region, the global Metamaterials market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, North America is the dominant region for the global metamaterials market and expected to grow at the highest CAGR during the forecasted period due to the presence of leading players’ with growing telecommunication sectors investments like 5G networks and rising wireless technology adoption followed by Europe region. According to the CTIA  Association, Americans generate more than USD 400 billion with wireless service annually in economic activity, including the usage of advanced technology metamaterials for building connected devices networks.

The Asia Pacific is also growing faster for the Metamaterials market, owing to rising government investment for building telecommunications infrastructures and a surge in demand for connected devices in this region. According to the International Telecommunication Union (ITU), the Asian Countries are thriving to build strong telecommunications systems using advanced metamaterials. As per the above organization, in the Asia Pacific region Australia, China, Malaysia, and many other countries have invested around USD 34.7 billion for national satellite for rural areas using wireless network, 6 billion telecommunications projects by China, whereas Malaysia had been launched National Fiber Connectivity Plan (NFCP) in 2019. Similarly, Thailand has invested around USD160 million in digital connectivity development projects.

Competitive Analysis

The global Metamaterials market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. JEM Engineering LLC, NanoScribe, Oxford, Fractal Antenna Systems Inc., American Elements, MTI, Kymeta Corporation, Metamaterial Technologies Inc., ONR, Photon D, DUKE, and NKT Photonics AS is the leading market players with significant market share.

Companies are entering into collaborations, acquisitions, mergers, investments, and licensing for increasing their market penetration. For instance, on 15th Jan 2019, Metamaterial Technologies Inc., Mitacs, and Dalhousie University have been collaborated to explore light manipulation techniques with the help of metamaterials. The partnerships have been made for advanced technology development and discoveries in electromagnetic technology, wireless communication, electricity, lasers, and computers; this purpose announced the investment of around  USD 1.62 Million.

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