Metamaterial Market

The metamaterial market is projected to reach USD 1.38 billion by 2029 from USD 0.22 billion in 2024 at a CAGR of 44.8% during the forecast period.

Key drivers for growth in metamaterial market include the increasing demand for more advanced wireless communications systems, rising use of metamaterials in healthcare and robotics sectors, and the progress of optical metamaterials. Besides, growth in the solar energy sector, advancement of thermal metamaterials, and the increasing integration of nanotechnology with metamaterials will also provide enough opportunities for fueling the market growth.

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Major Metamaterial companies include:

• Kymeta Corporation (US)
• Pivotal Commware (US)
• Echodyne Corp. (US)
• ALCAN Systems GmbH i.L. (Germany)
• Metalenz, Inc. (US)
• Greenerwave (France)
• Edgehog (Canada)
• Metamagnetics (US)
• Fractal Antenna Systems, Inc. (US)
• Lumotive (US)
• 2Pi Inc. (US)
• Moxtek, Inc. (US)
• Plasmonics Inc. (US)
• Sintec Optronics Pte Ltd. (Singapore)
• TeraView Limited (UK)
• Thorlabs, Inc. (US)

Key drivers for growth in metamaterial market include the increasing demand for more advanced wireless communications systems, rising use of metamaterials in healthcare and robotics sectors, and the progress of optical metamaterials. Besides, growth in the solar energy sector, advancement of thermal metamaterials, and the increasing integration of nanotechnology with metamaterials will also provide enough opportunities for fueling the market growth.

Some of the major players in the metamaterial market with significant global presence are Kymeta Corporation (US), Pivotal Commware (US), Echodyne Corp. (US), ALCAN Systems GmbH i.L. (Germany), and Metalenz, Inc. (US). These players have incorporated various organic and inorganic growth strategies including collaborations, acquisitions, product launches, partnerships, agreements, and expansions to strengthen their international footprint and capture a greater share in the metamaterial market. These organic and inorganic strategies have allowed the market players to expand themselves across geographies by offering metamaterial-based products.

Kymeta Corporation (US) has a broad strategy focused on both organic growth, through product launches, and inorganic growth strategies in the form of partnerships, acquisitions, and agreements that expand the leading position of Kymeta Corporation in the metamaterial market. For instance, the company launched the Osprey u8 HGL, a hybrid GEO/LEO satellite terminal for military vehicles and vessels, offering reliable, low-latency communications. The company announced in June 2023 that it had formed a collaboration with OneWeb (UK), a satellite communications company. The partnership utilizes the electronically steered flat panel technology of Kymeta and the LEO satellite network of OneWeb to seamlessly provide high-performance connectivity at sea. The partnership will enable easy, trustworthy communications among large vessels, yachts, and commercial ships in situations where those ships may be in motion just as they would be when moored on land.

Pivotal Commware (US) emphasizes on organic growth strategies comprising product launches to have a strategic competitive edge in the metamaterial market. For instance, in February 2022, the company launched the Echo 5G Boost, a customer-installable mmWave repeater for low emissivity (low-e) windows. The device enhances indoor 5G coverage by overcoming significant signal losses caused by low- e glass, which is common in both commercial and residential buildings. Pivotal Commware is also firmly focused on pursuing inorganic growth by means of strategic collaborations. In May 2022, Pivotal Commware, Movandi (US), and Wistron NeWeb Corp. (WNC) (Taiwan) collaborated with Verizon (US) to enable the deployment of 56mm wave signal repeaters that will enhance 5G coverage in public and home settings. This collaboration will upgrade the performance of the network and will be supported by NXP and Qualcomm Technologies, who will develop next-generation chipsets. It is all an integral part of the broader strategy in the 5G Ultra-Wideband network expansion by Verizon and a drive for innovation in 5G applications.

Metalenz, Inc.'s (US) product portfolio comprises 3D sensing lenses, dot pattern projectors for facial recognition, and biometric imaging systems. The company has pursued organic and inorganic growth strategies in the metamaterial market. It had come up with Polar ID-a compact and affordable face unlock solution for smartphones. This product will use the meta-optic technology for secure authentication. In February 2024, Metalenz partnered with Samsung Electronics (South Korea) to integrate Samsung’s ISOCELL Vizion 931 NIR image sensor into Polar ID, enhancing security and reducing size and cost by 50% compared to traditional methods. This partnership uses polarization-sorting imaging for fast, secure facial recognition.

Related Reports:

Metamaterial Market by Antenna, Reconfigurable Intelligent Surfaces (RIS), lenses and optical modules, sensors and beam steering, anti-reflective films, electromagnetic, terahertz, radio frequency (RF), optical and region - Global Forecast to 2029

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