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Metamaterial Technologies Market 2024 Key Players Kymeta Corporation, Echodyne corp, Metamagnetics Inc., Metamaterial Technologies Inc., Alight Technologies

Metamaterial Technologies Market

Metamaterial Technologies Market

The Metamaterial Technologies Market is likely to have certain restraints to its growth in the coming years. The product technologies are in the prototype stage, involve several development challenges and might need years of research and development for commercialization. Lack of cognizance among consumers about the benefits of these product is likely to have a negative impact on the product market growth market in the forecast period.

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Metamaterial Technologies Market is expected to surpass USD 2.5 billion by 2024 according to this new research report. The metamaterial technologies market is likely to be primarily driven by the growing demand for enhancing solar photovoltaic (PV) cells efficiency, owing to its capability to enhance absorption capacity of the solar cells. Also, metamaterial thin film coating substantially reduces the price of solar cells.

Increasing demand for conventional energy sources such as hydro, solar, tidal and wind have led to a mounting necessity to increase the efficiency of solar cells. Global solar PV cell is projected to rise at a significant rate driving the overall metamaterial technologies market in the forecast timeframe.

Robust increase in the mobile wireless communication systems will also drive the product market in the coming years. Global mobile wireless penetration is probable to reach beyond 99% by 2024. The electromagnetic and acoustic characteristics in wireless communications are developed from metamaterial molecular structures and thus feature brighter demand aspects for the product market. Also, the incapability of the conventional antennas in fulfilling modern communication systems requirements has also propelled the product market significantly

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The metamaterial technologies market is likely to have certain restraints to its growth in the coming years. The product technologies are in the prototype stage, involve several development challenges and might need years of research and development for commercialization. Lack of cognizance among consumers about the benefits of these product is likely to have a negative impact on the product market growth market in the forecast period.

Terahertz product segment is estimated to surpass USD 500 million in the forecast period. The product is likely to witness high demand in medical imaging and security applications, which feature significant market growth aspects by 2024. The acoustic segment will likely have CAGR over 20% by 2024. The growth is attributed to its applications in soundproofing coatings, audio systems, thermal insulators, sonar technologies, vibration dampers, heat exchangers, etc.

Considering the application, imaging segment is projected to rise by CAGR over 21% in the forecast period, thereby gaining share more than one fifth of the overall market. The segment growth will be primarily driven by its benefits over other materials in industrial and medical imaging.

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By 2024, Europe Market is expected to surpass USD 600 million. Improved investments by the European Commission for R&D of metamaterial technologies in optics and solar applications will propel the regional market. Latin America product market is probable to generate revenue over USD 30 million in the forecast period particularly due to growing regional telecommunications and IT sector.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Applied EM Inc
2. Alight Technologies ApS
3. Colossal Storage Corporation
4. Echodyne Corporation
5. Evolv Technology
6. Fianium Ltd
7. Fractal Antenna Systems, Inc. (FRACTAL)
8. Inframat Corporation
9. Kymeta Corporation
10. Luminus Devices Inc
11. Medical Wireless Sensing Ltd. (MediWiSe)
12. Metamagnetics Inc
13. Metamaterial Technologies Inc
14. Nanosteel Company Inc
15. Opalux Inc
16. Sandvik Materials Technology AB

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Corporate Sales, USA
Global Market Insights, Inc.
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