Chicago, IL -- (SBWIRE) -- 06/14/2017 -- According to the new market research report, "Metamaterial Market, by Material Type (Electromagnetic, Terahertz, Photonic, Tunable, and FSS), Application (Communication Antenna, Windscreen, Solar Panel, Sensing, Display, and Medical Imaging), Vertical – Global Revenue, Trends, Growth, Share, Size and Forecast to 2022", published by Scalar Market Research, the global Metamaterial Market is expected to grow at an impressive CAGR during the forecast period.

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Metamaterials are widely used in telecommunication and medical field. These materials possess artificial electromagnetic properties. The rare properties of metamaterial have led to the development of metamaterial antennas, sensors, and lenses for minute wireless systems that are expected to be more efficient than other traditional systems. They exhibit a sensitive response to the dielectric media, strain, biological sensing applications, and chemicals. Metamaterials are artificially engineered materials that provide unique advantages over other conventional substitutes owing to properties that are not readily found in nature. They gain their distinctive properties from the structure of the homogeneities infused in them. Due to these factors, metamaterials have an extensive list of lucrative applications including invisible super lens, cloaking devices, absorbers and flat antennas which are highly impossible with traditional materials that are found in nature

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KEY PREMIUM INDUSTRY INSIGHTS

1. Sensors and microwave antennas are major components of telemetry systems since they provide communication between the base station and patient. Metamaterials show electromagnetic properties at frequencies which are expected to attract interests from physicist and microwave engineers. These factors are anticipated to drive the market growth and provide a potential base to metamaterials in the coming years.

2. The global metamaterials market is driven by surge off-grid solar power system demand, to improve the efficiency of photovoltaic cells and increasing investments by venture capital firms in the market. Metamaterials absorb a broad range of light with exceptionally high efficiency, which is expected to increase application in optical sensors and solar cells.

3. These materials can is fragile, saving weight and cost. Rising demand and awareness of benefits that solar cells provide to generate energy is expected to drive this technology. These materials can is fragile, saving both cost and weight.

Lack of inadequate customer awareness towards advantages of metamaterials expected to pose a significant challenge to the global market growth over next few years. Technical complications coupled with high cost and time took for development cycle can be attributed as significant challenges to the industry growth.

North America metamaterials market dominated the global demand in 2014 owing to government research investments, particularly in communication infrastructure and defense sector. The intensity of active association between companies, universities and metamaterials technologies to develop various products for civilian use is estimated to drive the product demand in Asia Pacific and Europe. Emerging economies such as Brazil, China, and India are highly investing in medical, defense and infrastructure to increase their economic development. Medical imaging is expected to grow at a significant growth rate owing to various innovations and product development in this field. Optics and sensing are supposed to emerge as the fastest growing markets for metamaterials over the next few years.

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KEY MARKET PLAYERS

Key players in the metamaterial market include:

1.Kymeta Corporation
2.Metamaterial Technologies, Inc.
3.JEM Engineering, LLC.
4.Echodyne Inc.
5.Multiwave Technologies AG
6.Mediwise
7.Metashield LLC.
8.Nanosonic, Inc.
9.Plasmonics, Inc.
10.Applied EM

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