Metamaterial medium is defined as a macroscopic composite having a man-made, three dimensional, and periodic cellular architecture designed to produce an optimized combination, not available in nature, of two or more responses to a specific excitation. It possesses exceptional physical properties such as negative permeability and permittivity, and is often regarded as artificial medium with negative refractive index
Portland, OR -- (SBWIRE) -- 09/29/2017 -- Major factors that drive the Metamaterial Medium Market growth are capital investment from public and private sources and highly skilled researchers for product commercialization. In addition, the unique engineered properties of metamaterial mediums are not found in nature, making them inherently valuable. However, inefficient research despite huge investment is expected to restrain the market growth.
Metamaterial Medium Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $1,387 million by 2022, registering a CAGR of 39.7% during the period 2016-2022. North America held more than half share in the global metamaterial medium market in 2015. Anteena was the leading market segment in 2015, whereas frequency selective surfaces is projected to be fastest growing segment during analysis period.
Among all regions, Asia-Pacific generated the highest revenue, whereas Europe is projected to grow at a significant CAGR of 45.7%, due to several emerging economies with expanding end-user industries such as automotive, construction, and consumer products.
Antenna is the largest application of metamaterial medium globally, due to its miniaturizing property for antenna modules and ability for tracking satellites across the globe without any repositioning of the physical antenna.
Telecommunication is the largest end user of metamaterial medium globally, due to its ability to modify the performance of the electromagnetic spectrum to elicit capabilities that were not previously possible in nature. The telecommunications market is expected to register a CAGR of 25.2% during 2016-2022.
Key Findings of the Metamaterial Medium Market
- Europe is anticipated to the fastest growing segment during the forecast period, registering a CAGR of 45.7% throughout 2016-2022.
- As of 2015, only the antenna segment was the one with commercialized products.
- Sensing is expected to be the fastest growing segment, during the forecast period, once the commercialization of products starts.
- Telecommunication is expected to lead the market during the forecast period, accounting for half of the market share by 2022.
- The antenna market is expected to grow at a CAGR of 17.7% during 2016-2022.
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