According to a new market research report "Metamaterials Market by Device Type (Antennas, Superlens, Cloaking Devices, Absorbers), Metamaterial Type (Electromagnetic, Terahertz, Photonic, Tunable, Frequency Selective Surface, Non-Linear), Application & Geography - Trends & Global Forecasts to 2025" published by MarketsandMarkets, the value of Metamaterials Market is expected to reach $643 Million by 2025, at an estimated CAGR of 41.25% from 2015 to 2025.
The concept of metamaterials caught major attention when Professor David R. Smith of Duke University and his team created an invisibility cloak that was able to divert microwaves around the object placed behind it, rendering it invisible. Although invisibility cloaks have not yet made it to practical applications, developments such as these have given the researchers an opportunity to venture into the wide scope of potential applications where metamaterials could reach possibilities which are impossible through the use of any other material. The increase in Research and Development activities to achieve technological advancements in metamaterial is one of the key factors that is expected to drive the Metamaterials Market in the future. Telecommunication applications will be the highest revenue generator for this market during the forecast period.
The report's detailed segmentation by type of metamaterial, by devices, by application, and by geography covers all the market-ready as well as under-development metamaterials in the market. The major types that have been extensively covered in the report are electromagnetic, terahertz, photonic, tunable, frequency selective surface-based and nonlinear metamaterials.
The Metamaterial Market statistics are given by the type of metamaterial, devices, application, and geography. Few of the much talked about metamaterial devices such as antennas, superlens, cloaking devices, and absorbers have been discussed in detail, along with their potential market value during the forecast period. The application segmentation of the market covers all the major applications like Aerospace and Defense, Medical Instrumentation, Optics, Sensing, and Telecommunication.
Apart from the market statistics, the report also includes qualitative analysis like the value chain with detailed process flow diagram; market dynamics such as drivers, restraints, and opportunities; burning issues; and winning imperatives for the overall metamaterials market.