Metamaterials Technologies Market is expected to rise at CAGR of 21.6% by reaching US$1,268.4 Mn by 2020.

Transparency Market Research announces the release of a new report titled “Metamaterials Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”. According to the report, the global metamaterials technologies market is estimated to grow from US$322.6 million in 2013 to US$1,268.4 million by 2020, at a strong CAGR of 21.6% from 2014 to 2020.The global metamaterials technologies market is driven by the growing need to improve the efficiency of solar photovoltaic cells, surge in wireless mobile communication, and increase in funding by venture capital firms. The use of grapheme-based metamaterials in medical applications is expected to boost the growth of the metamaterials technologies market in the near future. In contrast, inadequate commercial awareness and technical obstacles in the high-volume fabrication of metamaterials is expected to inhibit the growth of the global market. The research report segments the global metamaterials technologies market on the basis of product, application, and geography.

 

Get Request Sample of the Report :

 

By product, the metamaterials technologies market is broken down into acoustic metamaterials, terahertz metamaterials, photonic metamaterials, radio and microwave metamaterials, and others such as ultraviolet metamaterials and infrared metamaterials. Of these, the segment of radio and microwave frequency electromagnetic metamaterials held nearly 50% of total revenue generated in the metamaterials technologies market in 2013.Metamaterials technologies find application in acoustic devices, imaging (medical and industrial), solar, communication and radar, and others such as seismic protection and cloaking devices. By revenue, communication and radar held over 60% of the metamaterials technologies market in 2013 and is likely to remain the largest and the fastest growing application segment over the forecast period. The use of metamaterials technologies in industrial and medical imaging was the second largest application segment in 2013.