Rising demand for smart materials in consumer electronics is a key factor driving smart materials market revenue growth
VANCOUVER, BC, CANADA, April 18, 2023 /EINPresswire.com/ — The latest report, titled ‘Global Smart Materials Market,’ comprises a profound analysis of the fundamental parameters contributing to the global Smart Materials market scenario. The research report provides the reader with an in-depth interpretation of the Smart Materials market dynamics, including the crucial drivers, opportunities, threats, and challenges. Smart materials are those that have been engineered to change some of their properties in response to external stimuli, such as mechanical stress or a specific temperature, moisture, and others. These are most widely used in the manufacture of electronic instruments such as actuators, electroactive polymers, and sensors. These materials have characteristics that alter in response to environmental changes. A wide variety of smart materials, including carbon nanotubes, inorganic nanoparticles, conducting polymers, and graphene, are now available due to the advancement of nanotechnology. Rising revenue growth of the consumer electronics industry across the globe creates a high demand for smart materials. Smart materials are used in the manufacture of sensors and actuators owing to its advantages such as fast response, high energy density, and compact size. It is significantly used in smartphones, microelectronic components, and image sensor cameras in recent days. According to research, there is approximately 2.5 billion smartphone user across the globe. It is expected to reach 5.9 billion by 2025. Growing adoption of smartphones and other consumer electronics is expected to boost revenue growth for the market.
Smart materials have a wide range of uses in the aerospace and defense industries. These two industries will be critical in boosting the global market revenue for smart materials. For example, NASA, a U.S.-based space research organization collaborates with promising innovators to promote technologies such as smart materials. The Technology Transfer Program of NASA seeks collaborators to enhance smart coatings, shape memory alloys, multilayer electroactive polymer composite materials containing carbon nanotubes, and related production methods. In addition, smart materials are used for intelligence tactics, cyber warfare, and precision strike capabilities in defense industry, which is expected to support revenue growth of the market.
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The most recent study offers an extensive analysis of the market’s broad competitive landscape, focusing on the major competitors and their company profiles. The research has addressed a wide range of strategic actions done by these organizations, including new business deals, mergers and acquisitions, collaborations, joint ventures, technical advancement, and recent product introductions. The competitive environment of the market is examined in the research in several ways, including the regulatory standards and policies put in place recently across the sector. Our team of industry professionals has used a number of strong analytical tools, including Porter’s Five Forces analysis and SWOT analysis, to provide a thorough overview of the worldwide Smart Materials market and identify the key growing trends.
Key Companies Profiled in the Report are
TDK Corporation, Kyocera Corporation, APC International, Ltd., CeramTech GmbH, Harris Corporation, Noliac A/S., Ametek Inc., CTS Corporation, LORD Corporation, and Metamaterial Inc
Middle East & Africa
Global Smart Materials Market Highlights:
Regional demand estimation and forecast
Product Mix Matrix
Pre-commodity pricing volatility
Supply chain optimization analysis
Technological updates analysis
Raw Material Sourcing Strategy
Mergers & Acquisitions
Location Quotients Analysis
Carbon Footprint Analysis
Key Parameters Analyzed in This Section:
Product sales trends
Sales & distribution channels
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The report also presents the analytical information in a well-organized fashion divided into graphs, tables, charts, figures, and diagrams. This makes it simple and useful for readers to comprehend the market situation. The research also tries to convey a forward-looking perspective and reach an insightful conclusion to help the reader make profitable business decisions. In summary, the report offers a thorough analysis of the market segments anticipated to dominate it, the regional division, the estimated market size and share, as well as a thorough SWOT analysis and Porter’s Five Forces Analysis.
On the basis of type, the market is segmented into
Product Outlook (Revenue, USD Billion; 2019-2030)
Phase Change Materials
Shape Memory Materials
Application Outlook (Revenue, USD Billion; 2019-2030)
Actuators & Motors
End-Use Outlook (Revenue, USD Billion; 2019-2030)
Defense & Aerospace
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