Market Demand and Value

The support of Government with its initiatives, the initiative R&D investment in the industries and institutions and the adoption of smart material products among various end-user industries like Defense & Aerospace, Automotive, and Consumer electronics has driven the market of smart materials. There is a high demand for smart materials on account of potential growth in emerging economies as well as evolution in Internet of Things (IoTs).It is expected that the smart material market will attain up to billion dollars by 2022. The trend in the market and the factors impacting the market are studied.