PUNE, India, April 21, 2017 /PRNewswire/ --
According to the new research report "Metamaterial Market by Material Type (Electromagnetic, Terahertz, Photonic, Tunable, and FSS), Application (Communication Antenna, Windscreen, Solar Panel, Sensing, Display, and Medical Imaging), Vertical and Geography - Global Forecast to 2025", published by MarketsandMarkets™, this market is expected to be valued at USD 4,634.8 Million by 2025, at a CAGR of 63.1% between 2017 and 2025.
Browse 79 market data Tables and 62 Figures spread through 162 Pages and in-depth TOC on "Metamaterial Market"
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The major factors driving the growth of the metamaterial market include variety in design functionalities, anti-glare coating applications, and invisibility cloak for stealth aircraft.
Communication antenna expected to have the largest market size by 2025
Communication antenna accounted for the largest share of the metamaterial market based on application segment in 2016. The growth of this market can be attributed to the usage of antenna for major communication applications such as satellite communication, Wi-Fi routers and radar communication.
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The metamaterial market for frequency selective surface to grow at the highest rate during the forecast period
The metamaterial market for frequency selective surface based on material segment is likely to grow at the highest rate during the forecast period. This is mainly because of the major interest from the defense vertical for this material type, which can be used to create radar covers called radomes.
The metamaterial market for the automotive vertical to grow at the highest rate during the forecast period
The metamaterial market for automotive vertical is expected to grow at the highest rate between 2017 and 2025. This high market growth rate can be attributed to the growing usage of communication antenna applications in the connected cars concept.
Americas likely to hold the largest share of the metamaterial market during the forecast period
Americas is expected to hold the largest share of the metamaterial market during the forecast period. The high growth can be attributed to the increasing demand from the aerospace and defense vertical. Government agencies, such as DOD (Department of Defense), DARPA (Defense Advanced Research Projects Agency), and NASA (National Aeronautics and Space Administration), are funding research universities and industry players for the development of metamaterial-based antennas.
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The report also profiles the most promising players in this market. The competitive landscape of the market presents an interesting picture where a large number of players have become a force to reckon with. The key players in this market are Kymeta Corporation (US), Metamaterial Technologies, Inc. (Canada), Phoebus Optoelectronics LLC (US), Multiwave Technologies AG (Switzerland), MediWise Ltd. (UK), and MetaShield LLC. (US).
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