Metamaterial Technologies Market Insights by Emerging Trends & Growth Forecast to 2024
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Metamaterial technologies market in the Europe is expected to surpass USD 600 million. Improved investments by the European Commission for R&D of metamaterial technologies in optics and solar application 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.
The key players in metamaterial technologies market are:
• Kymeta Corporation
• Metamagnetics Inc.
• Evolv Technologies
• Applied EM Inc.
• Alight Technologies
• Colossal Storage Corporation
• Fractal Antenna Systems
• Echodyne Corporation
• Medical Wireless Sensing Ltd.
• Inframat Corporation
• Luminus Devices Inc
• Sandvik Materials Technology
• Opalux Inc.
• Nanosteel Company
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 metamaterial technologies market significantly.
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Metamaterial Technologies Market by Product Analysis:
Product segmentation: The report claims that the product landscape of the Metamaterial Technologies is subdivided into –
• Radio & Microwave
Important pointers encompassed pertaining to the product spectrum:
• Major details about the product spectrum are provided in the report.
• The study elaborates on the remuneration forecast of each of the product categories by the end of the anticipated duration.
• The market share which each of the product segments account are mentioned in the study.
• Also, the most proliferating trends that the product spectrum is characterized by are also entailed.
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 metamaterial technologies 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.
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