BOSTON, Aug. 15, 2019 /PRNewswire/ -- Metamaterial devices are poised to grow to $10.7 billion by 2030 in 5G networks, autonomous vehicles, connected vehicles, and more. To better understand this opportunity, the team at Lux Research, a leading provider of tech-enabled research and advisory services for technology innovation, analyzed the market landscape to understand where and how this technology will drive future growth in the new report, "Metamaterials Market Forecast."
The report reveals how metamaterial designs enable devices that achieve much higher performance and efficiency than conventional offerings. Metamaterials are being deployed for telecommunication antennas, electromagnetic sensors like radar and lidar, vibration damping, energy harvesting, and wireless charging. Critically, these metamaterial devices all use combinations of standard, existing materials. Moreover, advances in manufacturing technologies, from 3D printing to lithography, now enable startups to cost-effectively manufacture these devices at scale.
"Metamaterials enable electromagnetic and acoustic performance characteristics that no conventional design can match, and are finally becoming practical to manufacture and use," said Anthony Vicari, analyst at Lux Research and lead author of the report. "These performance advantages are especially valuable in communications antennas, as well as sensors such as radar and lidar. With the imminent rollout in 5G network infrastructure and devices, and the subsequent projected growth in connected and autonomous vehicles, metamaterials are becoming viable at just the right time to see rapid growth in these new markets."
The report provides a detailed technical and market landscape, as well as market forecasts across key application segments. Key takeaways include:
- Metamaterial devices offer smaller size, greater energy efficiency, and more precise directionality and control. In many cases, metamaterial devices are not much more expensive to produce than conventional devices. As a result, once metamaterial options reach the market, conventional offerings are likely to become uncompetitive.
- The 5G segment will grow rapidly in the early 2020s with the rollout of new network infrastructure. Growth in the sensor market, especially for automotive, will take off in the late 2020s.
- The startup landscape has more than doubled in size in the past few years, reflecting accelerating innovation in this space and a larger underlying ecosystem of research groups familiar with the technology.
- Key early metamaterial antenna patents are set to expire in the 2024 to 2028 timeframe. At that point, we expect to see a rapid increase in the number of companies developing metamaterials, like the explosion of activity 3D printing experienced after early patents expired between 2005 and 2008.
- Metamaterials are a design-driven trend and build on the current momentum in design software and additive manufacturing. As a result, expect rapid technology adoption at the speed of software, not the slower pace typical of new material innovations.
For more information about the metamaterials market landscape, download the executive summary.
About Lux Research
Lux Research is a leading provider of tech-enabled research and advisory services, helping clients drive growth through technology innovation. A pioneer in the research industry, Lux uniquely combines technical expertise and business insights with a proprietary intelligence platform, using advanced analytics and data science to surface true leading indicators. With quality data derived from primary research, fact-based analysis, and opinions that challenge traditional thinking, Lux empowers clients to make more informed decisions today to ensure future success.
SOURCE Lux Research