Description:
Metamaterial medium can be defined as any macroscopic composite having a threedimensional repetitive structure, engineered in such a way so as to produce an optimized combination with properties that are not usually found in nature. The unusual and exceptional properties of metamaterial medium includes its negative refractive index, and near to zero permittivity and permeability. Metamaterial medium is quoted as the material medium of the future as it holds good potential in the aerospace & defense, optics telecommunication and automotive sector. The major significance of metamaterial medium is due to the fact that they allow the manipulation of wave propagation in a way that renders novel properties in the material, just by modifying their architecture. For instance, cloaks that are capable of making a substance invisible are being developed by scientists.
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The world metamaterial medium market is expected to reach $ 1,389 million by 2022 from a generated revenue of $ 149 million in 2015, registering a CAGR of 39.7 % throughout 2016- 2022. The major factors driving the metamaterial medium market are highly skilled researchers for product commercialization, the unique properties of metamaterials that are not usually found in nature and the capital investment in metamaterial medium R & D from the public as well as private sector. However, the lack of sufficient research inspite of huge investment is expected to hamper the growth of world metamaterial medium market.
In 2015, North America accounted for the largest share, more than half of the revenue share, followed by Asia-Pacific. Europe is expected to grow at the fastest rate, registering a CAGR of 45.7 %, owing to the expanding end-user industries in emerging economies of Europe.
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The world metamaterial medium market is segmented, based on end user, application, and geography. On the basis of end user, the market is segmented into automotive, telecommunication, aerospace & defense, optics, and medical instrumentation. According to the applications of metamaterial medium, the market segmentation includes antenna, beam steering system, frequency selective surfaces, and sensing. As of 2015, the antenna segment is the only one with commercialized product. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
The key players in the metamaterial market have adopted several developmental strategies such as agreement, partnership, and product launch. The agreements and partnerships in the metamaterial medium market are focused majorly on the R & D of metamaterial medium. The report consists profiles of the major market players including
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