Smart Materials – High Growth Industry
Smart materials have the potential to positively affect lives all over the world. It improves how we use, interact and benefit from light. With the power to manipulate one of the most fundamental and important resources on our planet, we can now harness it to make a difference around the world. As this science is relatively new over the last ten to fifteen years, research firms have been making predictions on what type of impact it will have on the global economy.
In December 2015, a leader in industry analysis and forecasts in smart materials published a report titled “Metamaterials Mark
ets: 2016-2023.” In this report, the market research firm, n-tech states that the market for metamaterials used for communications, medicine, defense, aerospace, sensing, and other applications will exceed USD $1.0 billion by 2021 and could reach USD $4.1 billion by 2025. Another research firm, Transparency Market Research, confirms n-tech’s evaluation in their report labeled “Metamaterials Technologies Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014-2020.” The report was published by Transparency Market Research in January 2016 and shows that the compound annual growth rate (CAGR) of the market is 21.6% from 2014-2016. That means that the market could expand from a value of USD$322.6 million in 2013 to USD$1.27 billion by the end of 2020. In February 2016, ReportLinker also released a report called “Metamaterials Market Outlook – Global Trends, Forecast, and Opportunity Assessment“, predicting that the market could become as large as USD$2.63 billion by 2022.
All three of these reports have recognized Metamaterial Technologies Inc. (MTI) as one of the leaders in the metamaterial industry. Learn more, download our corporte guide.