Nevertheless, on account of telling investments by venture capitalists and grants provided by government agencies for startup metamaterial companies in North America, the market is expected to expand at a very high pace. However, it should be noted that low commercial awareness and technical challenges in high volume fabrication could be primary growth restrictors in the market for metamaterials technologies. This region is also expected to witness a growth in industrial, consumer, and defense applications. In the recent past, North America was amongst the fastest and the largest growing markets for metamaterials technologies. North America Rules with Significant Investments by Venture Capitalists Metamaterial antennas could be in demand due to their lightweight properties and the ability to support a wide range of frequency spectrum, accompanied by high-paced reconfiguration and better self-alignment as compared to conventional antennas. The demand for metamaterials technologies is expected to rise in the coming years due to the increase in demand for wireless communication services and the funding provided to companies that manufacture metamaterial antennas. Though there is still a long way to go in the scope of each product, communication and radar seems to be one of the largest and the fastest growing segments since the past few years. Major applications could include solar, imaging (industrial and medical), acoustic, seismic protection, microwave cloaking, and communication and radar. Metamaterials technologies are prognosticated to have a wide range of usage in aviation, telecommunication, and industrial sectors, and defense as well. Other metamaterials such as ultraviolet (UV) metamaterials and infrared metamaterials are being studied and researched upon by researchers for their distinct characteristics which could be used in future. These are anticipated to be used in diverse applications such as efficient, ultra-slim, soundproofing coatings, vibration dampers, and home audio systems. As the name suggests, acoustic metamaterials are structures with acoustic effects.
Terahertz metamaterials which interact at terahertz frequency are widely used in security screening processes and medical diagnostics as microwave couplers and beam steerers.
Photonic metamaterials are the metamaterials used largely for communication at visible wavelengths. Diverse Applications Act as Driving Force for Metamaterials Technologiesĭue to potential usages of metamaterials technologies in navigation, communication and radar, and spectroscopy, such applications are expected to witness growth at a rapid pace. The global metamaterials technologies market is anticipated to grow up to a US$1.27 bn by the end of 2020. A lot of research institutes and companies are envisioned to come up with metamaterial products that could absorb light from various angles and spectrums. Moreover, the increase in demand for clean energy sources such as wind, solar, tidal, and hydro could translate into a want for more efficient solar cells. The rise in the demand could also be attributed to the ability of metamaterials technologies to amplify the absorption capability of solar cells. Rise in wireless communication services, greater preference for more efficient solar photovoltaic (PV) cells, and funding provided by venture capital firms to potential metamaterial manufacturers are prophesied to raise the demand for metamaterials technologies in the global market.
Global Metamaterials Technologies Market: Snapshot
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