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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