Global Metamaterials Market – Key Drivers and Forecast from Technavio

LONDON–(BUSINESS WIRE)–#EmbeddedSystemsTechnavio
analysts forecast the global
metamaterials market
to grow to USD 1.79 billion by 2021,
at a CAGR of more than 22% over the forecast period, according to their
latest report.


The research study by Technavio on the global
metamaterials market
for 2017-2021 provides a detailed industry
analysis based on the applications (communications, imaging, solar, and
acoustic) and geography (the Americas, EMEA, and APAC).

Metamaterials are materials developed using a combination of elements
ranging from plastic to metals to impart them with unique and superior
properties that cannot be exhibited by any conventional material. The
major advantage of metamaterials is that their atoms can be arranged as
per specific applications, which makes it user-friendly and also extends
the functionalities beyond standard materials and alloys.

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Technavio analysts highlight the following three factors that are
contributing to the growth of the global metamaterials market:

  • Advent of IoT driving the exponential growth of wireless computing
    devices
  • Growing number of internet users
  • Increased investments in R&D

Advent of IoT driving the exponential growth of wireless computing
devices

Many end-users across the globe require high-performance devices with
reliable and highly portable computing platforms, with connectivity
options such as Wi-Fi, 3G, 4G, and Bluetooth for easy data exchange and
transfer. The market for the Internet of Things (IoT) is growing at a
rapid pace with an estimated 30 billion connected devices by 2020.

The IoT technology enables devices to collect and transmit data
using sensors, antennas, and actuators from wireless computing devices
to a central location on a real-time basis. These devices need
high-quality antennas, which requires metamaterials
,” says Sunil
Kumar Singh, a lead analyst at Technavio for embedded
systems
research.

Growing number of internet users

The number of internet users increased almost seven-fold from 6.5% to
43% of the global population in between 2000 and 2015. 3G mobile
broadband networks are expanding into rural areas as well to ensure
high-speed internet access to all population demographics. It is
expected the internet user penetration in rural areas will expand
rapidly during the forecast period. This growing wireless infrastructure
worldwide is leading to the increased use of metamaterial antennas that
are needed to support the wireless networks.

Increased investments in R&D

A majority of the revenue in the metamaterials market is generated from
the R&D divisions of the end-users as the technology is yet to be
commercialized on a large scale. As metamaterials exhibit exotic
properties, its potential application areas are vast. In 2016,
metamaterials were being researched in several electromagnetic
applications including microwave applications and optical regime
applications.

The research for metamaterials is on the rise due to its superior
characteristics such as permittivity and permeability. Metamaterials are
used in radiating and scattering systems where the size, efficiency,
bandwidth, and directivity can be manipulated using these materials
,”
says Sunil.

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

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and proprietary databases. They corroborate this data with the data
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value chain, including vendors, service providers, distributors,
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