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According to a new report from BCC Research, the total global market for metamaterials was $289.2 million in 2013 and consequently, $346.3 million in 2014. BCC Research expects the market to grow to nearly $1.2 billion by 2019, a compound annual growth rate (CAGR) of 27.6% during 2014 to 2019, and nearly $3 billion by 2024, registering a CAGR of 20.5% from 2019 to 2024.
Wellesley, Mass., (PRWEB) July 10, 2014
BCC Research (http://www.bccresearch.com) reveals in its new report, METAMATERIALS: TECHNOLOGIES AND GLOBAL MARKETS, the total global market for metamaterials was $289.2 million in 2013 and consequently, $346.3 million in 2014. BCC Research expects the market to grow to nearly $1.2 billion by 2019, a compound annual growth rate (CAGR) of 27.6% during 2014 to 2019, and nearly $3 billion by 2024, registering a CAGR of 20.5% from 2019 to 2024.
Metamaterials can manipulate electromagnetic radiation (e.g., light) in ways not readily observed in nature. Electromagnetic metamaterials account for the bulk of the metamaterials market. Acoustic metamaterials are not expected to be major factors in the market until the time frame from 2019 to 2024 at the earliest, when applications such as metamaterials-based ultrasound lenses and noise barriers begin to appear.
By 2024, the range of metamaterials end uses should be more diversified, says BCC Research analyst, Andrew McWilliams. In addition to manufacturing and miscellaneous unclassified end uses, healthcare, electronics/IT, communications, energy and transport are expected to capture significant market shares.
METAMATERIALS: TECHNOLOGIES AND GLOBAL MARKETS provides specific objectives which include identifying the metamaterials with the greatest commercial potential in the 2014 to 2024 time frame, analyzing market drivers and evaluating obstacles to their successful commercialization, and projecting their future sales. It also surveys emerging metamaterials technologies and applications, identifies those that are most likely to achieve significant commercial sales in the next five to 10 years, and develops quantitative estimates of potential sales.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years, we have helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key competitors. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Our clients include the top companies in industries around the world as well as universities, business schools, start-ups, consulting firms and investment companies. BCC Research is a unit of Eli Research LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern time), or email information(at)bccresearch(dot)com.
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC, 49-2 Walnut Park, Wellesley, MA 02481, Telephone: (+1) 781-489-7301; Email: editor(at)bccresearch(dot)com as the source and publisher. Thank you.
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