Metamaterials are widely employed in medical and telecommunication field. Meta materials comprise of electromagnetic properties. The scarce characteristic properties of metamaterials has led to the introduction of metamaterial sensors, metamaterial antennas and metamaterial lenses for little wireless systems which are projected to be relatively efficient than other conventional systems. Metamaterials consist of a sensitive stimulus to the strain, dielectric media, chemicals and biological sensing applications. Metamaterials are artificially designed materials which provide extraordinary advantages over other traditional alternatives due to excellent properties which are not easily available in nature.
Increasing demand for the implementation of wireless telemetry solutions especially in the medical industry is anticipated to increase considerably owing to the demand for early diagnosis of diseases and infections as well as intensive care monitoring of physiological disorders. Some of the key factors which fuel the growth of the global metamaterial market are investments from private and public sources coupled with highly skilled research professionals for the commercialization of product. In addition to this, the extra ordinary engineered properties of metamaterials are not found easily in the nature, thus making them inherently valuable. However, unorganized research even with huge capital investments is projected to hamper the growth of the global market.
Globally, the metamaterials market can be divided based on material type, application and geography. Based on material type, the global market can be segmented into photonic, FSS, electromagnetic, tunable and terahertz. Taking application into consideration, the global metamaterials market can be segmented into communication antenna, windscreen, solar panel, sensing, display, and medical imaging. Based on geography, the global metamaterial market can be segmented into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa.
Countries such as Brazil, China and India are expected to score for the largest share in the global market and are expected to maintain this trend throughout the forecast period. This substantial growth can be accounted to speedily increasing industrialization and expanding urbanization coupled with increase in consumer spending capabilities and increasing investments by the governments.
Key players in the global market are maintaining and strengthening their efforts to lower the overall costs at each stage involved in the process. In addition to this, key players tend to accumulate and consolidate their overall production capacities in order to lower the costs and strengthen their competitive goodwill by efficiently increasing the production. For those industries where gain margins are relatively low, it is crucial to optimize their resources and lower waste. This is anticipated to an increased demand in the global market. On the other hand, key players are focusing on important market strategies such as product launch, partnerships, product development, mergers, collaborations and acquisitions to maintain their competitive goodwill in the global market. In addition, they are focusing on acquiring local market players to improve their market reach. Some of the key players in the global market include Kymeta, Applied EM, Plasmonics Inc., Teraview, Microwave Measurement Systems LLC., JEM Engineering, Newport Corp., Harris Corporation, Applied EM, Photonic Lattice Inc. and Sandvik Materials Technology among others.
Globally, the metamaterials market can be segmented
By Material Type:
• communication antenna
• solar panel
• medical imaging
• North America
• Latin America
• Middle East and Africa