According to Acumen Research & Consulting, the Global Materials Informatics Market size is expected to be worth more than USD 481 Million by 2028, growing at a CAGR of 26% between 2021 and 2028.
The materials informatics market revenue is growing at a significant rate due to the surging integration of AI and machine learning. Material informatics market value has been rising on account of the widespread benefits that they offer and significantly reduces the time and risk required to develop new materials, which primarily takes longer than 20 years. According to our material informatics industry analysis, the rising penetration of machine learning and data mining would open up new growth opportunities for the market in the coming years. Material informatics is a branch of informatics that relate informatics principles to material science and manufacturing in order to enhance material understanding, selection, discovery, development, and use.
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Global Material Informatics Industry Dynamics
Many industries are changing their paradigms as a result of artificial intelligence, and materials-focused commerce is no anomaly, with tremendous opportunities ahead. Because of the success of efficient and comprehensive deep learning tools, the materials industry is poised to benefit from extraordinary breakthroughs, leveraging materials modeling, analysis, and design toward a more effective, less costly, and more adaptable response to market demands and opportunities. As a result, the implementation of artificial intelligence (AI) in the material industry has rapidly expanded the material informatics market share.
Similarly, the advent of machine learning in this field is one of the materials informatics market trends that are fueling the demand throughout the forecast timeframe from 2022 to 2030. Since the advent of machine learning (ML), particularly deep learning, the materials field has been geared up for just another revolution in which forward as well as inverse problems can be used in novel and complementary ways. Integration of model, simulation-based design, and theory in conjunction with advanced manufacturing, has the potential to open up new opportunities across industries. For decades, computational modeling and simulation have been critical in advancing materials design, mostly since the introduction of finite element analysis methods (FEA/M), advanced imaging, computational dynamics, and, in recent times, molecular modeling.
Global Material Informatics Market Segmentation
The material informatics market is divided into four categories: material, technique, application, and geography.
Material Informatics Market by Material
Our material informatics market forecast suggests that the hybrid material is likely to attain the fastest growth rate (CAGR) throughout the forecasted timeframe. On the other hand, the application of organic materials is quickly holding the pace in research & development activities as researchers are more aware in regards with the environment.
Material Informatics Market by Technique
Based on our analysis, the market for digital annealer occupied a noteworthy market share in 2021 and is anticipated to continue this material informatics market trend in the coming years. Furthermore, genetic algorithms and statistical analysis are a very important part of the material informatics techniques that would support the industry as the number of research & development activities would continue to grow.
Material Informatics Market by Application
As per our study, the research & development agencies grabbed an impressive share of the application segment as material informatics is still in development and without the help of new R&D activities, the market growth will fall gradually. There has been a major development in this field in recent years, and many key players are eager to adopt this approach. Materials informatics is crucial in research & development efforts such as hypothesis development, data analysis, knowledge management, and data handling and acquisition.
Material Informatics Market Regional Outlook
By region, the material informatics market segmentation is made up of North America, Asia-Pacific, Latin America, Europe, and the Middle East & Africa. As per the recent updates, we have analyzed that North America would certainly lead the market with the maximum amount of share over the forecasted years. The dominance is credited to a large number of research & development activities going to find new materials. In addition to that, the significant amount of investments for carrying out these activities again supports the North America material informatics market growth. For instance, In order to double the speed of the discovery and application of new materials for creative goods, Ex-president Barack Obama launched the Materials Genome Initiative (MGI) in 2011. While North America grabbed a maximum share, Asia-Pacific is expected to attain a substantial growth rate in the coming years. The outstanding presence of various chemical, paper & pulp, electronics, and dyes industries in China, India, Japan, and South Korea are helping the Asia-Pacific material informatics market obtain this position.
Material Informatics Market Players
The leading material informatics companies presented in the report include Alpine Electronics, Inc., Materials Zone Ltd., Citrine Informatics, Exabyte.io, and Nutonian Inc.
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Mr. Frank Wilson
Acumen Research and Consulting