The global metamaterial technology market is anticipated to grow at a significant CAGR of around 30.5% during the forecast period. The major factor driving the growth of the market include increasing demand for matematerial technologies in healthcare devices, solar power systems, drones, anti-laser coating applications, and other engineering areas. The rapid advancements in 5G technology is further creating scope for the metamaterials, leading to the market growth. Magnetic Resonance Imaging (MRI) is important test for healthcare industry. Using metamaterials-printed circuit boards, hospitals can increase the number of scans without changing equipment. The results generated after using metamaterial technology is satisfactory for hospitals as a higher resolution image is procure and the speed of examination is become faster.
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Moreover, the major companies operating in market are focusing on introducing new products, which in turn, boosting the market growth. For instance, META, a nanofabrication company offersa wideproduct portfolio of metamaterials products, in which one is META transparent antenna that is inserted into smartphone displays, on the windows of vehicles and also used in home appliances. Similalry, Sonoblind panels, developed by Metasonnix, a lightweight, plastic acoustic panel performs conventional noise standard solutions.A solution which reduces the noise in busy hospitals wards. The Panels offered by the company are built to allow light and air to pass. Moreover, such panels will be used in schools, in offices and on a busy roads . Also company is focusing to assist such services to the people who prefer to do work from home so that unwanted noise can restricted to some extent.
However, the high of cost of synthetization of metamaterials, and lack of availaibility of affordable technology to synthesize metamaterials are the factors that may restrains the market growth during the forecast period. Moreover, therecent advances in MTM klystrons including MTM extended interaction oscillator and MTM extended interaction klystron amplifier is offering new growth opportunities to the market.
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Global Metamaterial Technology Market Segmentation
By Technology
- Electromagnetic
- Terahertz
- Photonic(Optical)
- Frequency Selective Service
- Others
By Application
- Communication Antenna and Radar (Beam Steering)
- Sensors
- Solar Panel and Absorbers
- Display
- Medical Imaging
- Others
By Vertical
- Automotive
- Aerospace and Defence
- Consumer Electronics
- Health Care
- Energy and Power
- Others
Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- Alight Technologies
- Anywaves
- AplphaCore Inc.
- Dereegallera Holdings Ltd.
- Echodyne Corp
- Inframat Corp.
- Jem Engineering
- Kymeta Corp.
- Lumotive Inc.
- Metamegnetics Inc.
- Meta Materials Inc.
- Multiwave Technologies AG
- NahsaiLLC
- Nanohmics Inc.
- Nkt Photonics
- Optoelectronics LLC
- Plasmonics Inc.
- Sonobex Ltd.
- TeraView Ltd
- NanoSteel Co, Inc.
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