openPR Logo
Press release

The Future of Smart Material Market Runs Through the Material Industry

08-14-2018 10:03 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Smart Material Market

Smart Material Market

Smart Materials Market is expected to garner $72.63 billion by 2022, registering a CAGR of 14.9% during the forecast period 2016-2022. Smart materials are adaptive or intelligent materials which pose intrinsic and extrinsic capabilities. These can be altered by external stimuli, such as moisture, temperature, electromagnetic field, and pressure to obtain the desired functional effects. In addition, these materials are dynamic in nature and respond to their immediate interaction environments by adapting their characteristics. Advancements in the materials science sector resulted in the development of materials for specific applications, which was previously not possible with the use of conventional materials, such as polymers/plastics, metals, glass, and ceramics. Smart materials are capable of working at a very basic functional level, such as temperature and can be used in very complex technical systems by incorporating additional functionalities and properties. For instance, smart materials can be used in energy supply systems for microelectronic components.

Smart materials are used in applications, such as transducers, actuators & motors, and structural materials. The market for smart materials is driven by the rise in adoption of smart materials products among various end-user industries, such as defense & aerospace, automotive, and consumer electronics; supportive government initiatives & plans; and increase in R&D investment by prominent players to optimize the cost and quality of smart materials. There is a high demand for smart materials on account of potential growth in emerging economies as well as evolution in Internet of Things (IoTs).

Value Chain Analysis

The value chain of smart materials observes the presence of large number of stakeholders from the raw material providers to final end users. Each of these stakeholders share a specific value at their point of operation, and in turn, contribute to the competitive value of the product. R&D activities, innovations, and marketing strategies further enhance the value associated with end-deliverables by each player, who operate in the global smart materials industry.

Access Full Summary : https://www.alliedmarketresearch.com/smart-material-market

Growing Aging Population

Smart materials have increase in gaining traction in older population-centric products. In addition, these products help reduce daily routine complexities and make life easier for old people. In near future, population share of this age-group is projected to increase at significant rate which in-turn is anticipated to increase demand for smart materials products. According to an International Population Reports, 2015 published by United States Census Bureau, the population increase of older population is projected outpace that of younger population over the next 35 years. Thus, the overall impact of this factor is projected to be high by 2022.

Widening Applications

Continuous development in manufacturing processes and adoption of enhanced materials has increased the applications of smart materials across various end-user industries. By 2022, smart materials are projected to further expand their applications and is anticipated to play pivotal role in the smart materials market growth. Hence, the impact is projected to be high throughout the forecast period.

Government Initiatives and Incentive Programs
Currently, some specific group of industries, such as small and medium enterprises (SMEs) lack in terms of adoption of smart materials due to high cost. Introduction of several initiatives and programs to encourage industries to invest in and utilize smart materials is projected to impact throughout the forecast period.

Substantial Investment in R&D

Increase in demand for enhanced smart materials and products from various industries, such as construction, manufacturing, and automotive are anticipated to encourage key players operating in the smart materials market to invest considerable amount on research and development to introduce efficient products and stay ahead in the competition.

Get Sample PDF Brochure : https://www.alliedmarketresearch.com/request-sample/1504

Market segmentation:

The market is segmented on the basis of application, end-user industry, and geography. By application, it is divided into transducers, actuators & motors, sensors, structural materials, and coatings. Based on end-user industry, it is classified into industrial, defense & aerospace, automotive, consumer electronics, healthcare, and others (civil engineering and retail). The global smart materials market is classified based on geography into North America, Europe, Asia-Pacific, and LAMEA.

Actuator & Motors

Actuators are the components of machine that respond to change in mechanical property, such as viscosity or dimensional change. For instance, a simple amplifier which converts low energy signal into high energy signal. Smart materials, which include shape memory alloys, magnetostrictive materials, piezoelectric ceramics, and magnetorheological/electrorheological fluids are integral parts of actuators. On the other hand, motors are also actuators that convert electrical energy to mechanical energy through the production of continuous angular rotations.

Loudspeakers are used as acoustic actuators for active noise control applications. Pneumonic and hydraulic actuators are frequently found useful when large force, low frequency, and displacements are required, while the shaker/electromagnetic actuator are used to respond against an inertial electrodynamic mass. Actuators have the potential to enhance vehicle performance and fuel economy to ensure convenience and comfort. In actuation technologies, shape memory alloys are used for tight-integration and small-scale applications, such as in small-displacement tensile motors. Nowadays, actuators have become an inseparable part of robotics where pedal motors, manipulator joint motors, deployment motors, drive/steering motors, and sampling tool motors are used. Key players are inclined to enhance, design, and develop process of actuators to make actuator compatible with wide range of applications.

Do Purchase Enquiry : https://www.alliedmarketresearch.com/purchase-enquiry/1504

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Shriram Dighe
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1⟨855⟩550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release The Future of Smart Material Market Runs Through the Material Industry here

News-ID: 1178480 • Views:

More Releases from Allied Market Research

Home Exercise Bike Market is expected to witness robust Compound Annual Growth Rate (CAGR) progress of 8.7% from 2021 to 2027.
Home Exercise Bike Market is expected to witness robust Compound Annual Growth R …
According to a new report published by Allied Market Research, titled, "Home Exercise Bike Market by Type, and Sales Channel: Opportunity Analysis and Industry Forecast, 2021-2027," The global home exercise bike market size was valued at $1,213.5 million in 2019, and is projected to reach $2,335.2 million by 2027, registering a CAGR of 8.7% from 2021 to 2027. The recumbent segment is expected to retain its dominant position, in terms
Rapidly expanding entertainment products industry is set to drive the growth of the $103.8 billion Toys market ; Ravensburger AG, Tomy Company, Ltd, Vtech Holdings, and Thames & Kosmos.
Rapidly expanding entertainment products industry is set to drive the growth of …
According to a new report published by Allied Market Research, titled, "Toys Market by Product Type, Age Group and Sales Channel: Opportunity Analysis and Industry Forecast, 2021-2027," the toys market size was $92.2 billion in 2019, and is projected reach $103.8 billion by 2027, registering a CAGR of 2.5% from 2021 to 2027. The increase in number of games bars, cafes and family entertainment centers worldwide is boosting the demand for
Global Home Beer Brewing Machine Market is expected to reach $25.4 million by the year 2030, as projected by Allied Market Research.
Global Home Beer Brewing Machine Market is expected to reach $25.4 million by th …
According to a new report published by Allied Market Research, titled, "home beer brewing machine market by product type, mechanism, and distribution channel: global opportunity analysis and industry forecast, 2021-2030," The global home beer brewing machine market size was valued at $19.1 million in 2020, and is projected to reach $25.4 million by 2030, registering a CAGR of 3.0% from 2021 to 2030. Request a report sample to gain comprehensive insights
Hospitality Robots Market is forecasted to grow at a Compound Annual Growth Rate (CAGR) of 25.5% through the year 2030, according to Allied Market Research.
Hospitality Robots Market is forecasted to grow at a Compound Annual Growth Rate …
According to a new report published by Allied Market Research, titled, "Hospitality Robots Market by Type, End User, Sales Channel and Region: Global Opportunity Analysis and Industry Forecast, 2021-2030," The global hospitality robots market size is expected to reach $3,083 million by 2030 at a CAGR of 25.5% from 2021 to 2030. Hospitality Robots Market by Type (Front Desk Robots, Delivery Robots, Cleaning Robots and Others) and end user (Hotels,

All 5 Releases


More Releases for Smart

Smart Cities Market is Expected to Witness CAGR of 17.3% by 2027 with Applicatio …
A smart city is an urban unit or area that uses various types of electronic Internet of Things (IoT) devices to collect data and then use the insights to manage resources, assets, and services effectively. Green building is a growing trend in the global smart cities market. Constructing eco-friendly infrastructure facilities can provide a sustainable environment in the cities. Moreover, governments are focused on constructing energy-efficient buildings, in order
Global Smart Cities Market by Component (Hardware, Software) by Application (Sma …
Global Smart Cities Market: Overview The global smart cities market is expected to reach a mark of over USD 3000 billion by 2024, at a CAGR over 21% during the forecast period. Significant growth in next-generation technologies such as artificial intelligence AI, personalized healthcare, sustainable energy generation and robotics are driving the smart cities’ future. Moreover, the increase in residential preference towards the adoption of advanced information and communication technologies ICT
Survey Report on Smart Kitchen Appliances Market 2018: Smart Refrigerator, Smart …
The report analyzes and presents an overview on "Global Smart Kitchen Appliances Market Professional Survey Report 2018" worldwide. This report studies Smart Kitchen Appliances in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2013 to 2018, and forecast to 2025. The study objectives of this report are: To study and forecast the market size of Smart
IoT Device Management Market Analysis by Application - Smart Manufacturing, Smar …
IoT device management comprises of multiple operating systems and several varieties of communication methods and protocols targeted at conducting smooth functioning of smart devices. The service of IoT device management has become vital for the business sector in recent years due to the rising use of remote operation in a number of industries and the subsequent need to manage the operation of the devices. The global IoT device management market is
SMART SHIPS NEED SMART REGISTRIES
The shipping world needs to wake up and embrace the philosophy of smart shipping because it is already here and the downturn in the world economy is not going to last forever, according to Panos Kirnidis, CEO of the Palau International Ship Registry. “The maritime industry knows that smart ships and smart technology is the way forward and yet there seems to be reluctance on the part of some owners to
Smart Kitchen Appliances Market : Smart Refrigerators, Smart Dishwashers, Smart …
Albany, New York, July 20, 2017 : Recent research and the current scenario as well as future market potential of "Smart Kitchen Appliances Market (Products - Smart Refrigerators, Smart Dishwashers, Smart Ovens, Smart Cookware and Cooktops, Smart Scales and Thermometers and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022" globally. Smart kitchen appliances are premium appliances that are designed for comfortable and efficient operation as