The global metamaterials market is currently valued at almost USD 1 billion and is expected to reach around USD 2 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global metamaterials market, under its embedded systems portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Applied EM, JEM Engineering, Kymeta, Metamagnetics, and Metamaterial Technologies.
According to Sunil Kumar Singh, a lead analyst for embedded systems research at Technavio, “The market for IoT is growing at a rapid pace with an estimated 30 billion connected devices by 2020. The technology enables end-users to make a decision that is informed and supported by data. The adoption of IoT technology in market segments such communications, automotive, and defense is expected to drive the metamaterials market in the coming years.”
The basic premise of IoT technology is that it requires little or no human intervention. The devices needed for this technology are required to have antennas that play a key role in ensuring that the technology delivers the desired performance. As a result, the demand for metamaterial antennas is increasing to support the growing expanses of IoT.
Emergence of next-generation wireless networks
Sky-rocketing network traffic, spurred by the increased penetration of mobile communication devices, is resulting in the large scale deployment of next-generation wireless networks suc as 3G, 4G, and 5G. The development of next-generation wireless infrastructure enables consumers and business enterprises to access the Internet without the constraints of time and place. This, in turn, will drive the demand for metamaterial antennas as they are more efficient than the conventional antennas used in this wireless infrastructure.
Large-scale funding of IoT startups
Countries such as the US, the UK, China, South Korea, India, and a few other nations in the European Union are supporting the use of IoT technology through many policies and funding programs. Apart from governments, there are several private firms that are encouraging growth in IoT technology. Funding from multiple sources will help boost the growth of startups specializing in IoT technology and lead to the enhanced requirement for IoT devices worldwide. This funding for the development of IoT solutions across the globe is creating demand for metamaterial antennas in the market.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
Other related reports:
- Global 3D Bioprinting Market 2017-2021
- Global Smart Doorbell Market 2017-2021
- Global Coding and Marking Market 2017-2021
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