The global material informatics market is anticipated to grow at a CAGR of around 26.0% during the forecast period 2021-2028 and to reach around US$ 481.6 Million by 2028.
|Market||Materials Informatics Market|
|Analysis Period||2017 - 2028|
|Forecast Data||2021 - 2028|
|Segments Covered||By Material, By Technique, By Application and By Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Exabyte.io, Alpine Electronics, Inc., Nutonian Inc., Citrine Informatics, Materials Zone Ltd., among others|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
materials informatics (MI) makes use of data-centric methods for the research and development of material science. During recent years there has been significant development in this field and many key players are keen in adopting this approach. materials informatics plays a major role in the research and development activities such as hypothesis, knowledge handling, data analysis, and data handling and acquisition. There is a huge demand for materials informatics as it uses data infrastructures and leverages machine learning solutions to discover materials for any given application, for designing the latest materials, and to optimize their processing.
The materials informatics field is still in the development phase but is gaining huge traction. Some of the challenges that are faced include having incomprehensive data infrastructure, development of incomplete MI algorithms which is not operational for a given experimental data. In comparison with other AI-led areas the challenges in this field are not same. The industry players have to deal with data that is high dimensional, sparse, noisy, or even biased. In most of the processes or methods having immense domain knowledge is a necessity.
Many applications and end-user industries have started adopting similar design methods. The three factors why transformative technology is creating an influence on material science are: increased developments in the solutions that are AI-driven from the other industrial sectors. Secondly, there has been immense advancement in the data infrastructures and lastly increased awareness and knowledge in order to match the pace of innovation.
Segment Analysis by Region
The materials informatics market in the Asia Pacific region promises to witness a significant growth rate during the forecast period. In developed countries such as Japan, the companies and organizations are widely embracing this technology. Research and development activities are in full swing to make further developments in this field.
The key players are hugely investing in academic labs and consortia. North America is expected to hold a major market share during the forecast period. Huge investments and the ongoing research and development activities are some of the factors driving the regional growth. The presence of key players in the US is another factor adding to the growth of the market in North America.
The global materials informatics market is highly competitive due to the presence of an increasing number of industry players and the innovations in the product offerings. In addition, the advancements and expansion in the materials informatics field through research and development activities are the other factors increasing the competition in the market.
Materials Informatics Market Segment Analysis 2020
The global materials informatics market is segmented into material, technique, and application. In terms of material, the market is further categorized into inorganic materials, organic materials, and hybrid materials. The hybrid material is anticipated to witness a good growth rate during 2021 to 2028. Use of organic materials has increased in the research and development activities due to the increasing awareness in regards with environment.
By technique, the global materials informatics market is segregated into deep tensor, digital annealer, genetic algorithm, and statistical analysis. By application, the market is categorized into dyes, chemical industries, research and development agencies, food science, material science, paper & pulp, and electronics. During the forecast period the research and development agencies are expected to highlight a good growth rate. The R&D transition cannot be overseen by any of the organizations that are into developing or designing of the materials. Even though immediate outcomes cannot be expected but in the mid- to long-term the opportunities will be significant. This, in turn, will increase the competition among the key players on the global platform and there will be new competitive products coming in the market. The other opportunities that will develop are versatile supply chain, developing the necessity to diversify the business units or materials portfolio, and finding next-gen opportunities. Organic electronics, nanomaterial development, additive manufacturing alloys, battery compositions, and polyurethane formulations are the other applications that promise to witness significant growth during the forecast period. The wide range of material use-cases indicates increasing industrial adoption is being witnessed from chemical manufactures to electronics.
The key industry players operating in the materials informatics market are Exabyte.io, Alpine Electronics, Inc., Nutonian Inc., Citrine Informatics, Materials Zone Ltd., among others. BASF and Citrine Informatics are collaborating together to make use of artificial intelligence (AI) for the development of new products in the market.
Market By Material
Market By Technique
Market By Application
Market By Region
Materials Informatics Market to reach around US$ 481.6 Million by 2028.
Materials Informatics Market is anticipated to grow at a CAGR of around 26.0% during the forecast period 2021-2028
materials informatics (MI) makes use of data-centric methods for the research and development of material science.
The hybrid material is anticipated to witness a good growth rate during 2021 to 2028.