According to Acumen Research & Consulting, the Global Material Informatics Market size is projected to grow at a CAGR of above 26% during the projected years and reach a value of USD481Million by 2028.
Material Informatics is a platform that incorporates materials engineering with informatics to improve material utilization, procurement, improvement, and discovery. In other words, materials informatics is a novel data-driven technology that forecasts future materials by merging fundamental and unconventional data from materials with advanced statistical approaches. Rising digitalization in organizations and associated fusion with innovative technologies have a significant influence on the materials informatics market size by improving material creation efficiency through the use of informatics, which includes information science approaches such as statistical analysis.
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Global Material Informatics Market Growth Aspects
In materials informatics, machine learning is used to improve performance outcomes based on past experiences by assessing input elements and predicting output features. Descriptors, data, and algorithms are the three key components required for material discoveries. The improved performance in the building projects and scope of sophisticated materials science databases, the rapid advancement of AI-related technology solutions, and the growth of supercomputer performance all contribute to the accelerated usage of materials informatics. Furthermore, continual improvements in novel data collection strategies for various types of materials data, as well as the proliferation of material property databases, are expected to have an impact on material informatics in the future. Besides that, the growing implementation of machine learning and data mining solutions in the material informatics market is expected to fuel market growth to new heights.
Growing Integration of Machine Learning (ML) and Artificial Intelligence (AI) Will Drive the Market Even Higher
Artificial intelligence (AI) and machine learning (ML) have shown to be advantageous in the research and development industry since they provide the examination of a material’s three-dimensional concept without actually constructing it. Furthermore, the increasing use of AI in different industries, including electronics, food chemistry, pharmaceutical, pigments, pulp and paper, and many others, is likely to boost material informatics market growth in the future years. Furthermore, numerous organizations are looking for funding to include material informatics and AI into strategies that capitalize on impending industry opportunities and expand their global presence, with the goal of increasing market revenue over the coming years.
Global Materials Informatics Market Insights
In terms of material, the market is further categorized into organic materials, inorganic materials, and hybrid materials. According to the material informatics market forecast, inorganic materials are projected to lead the market over the predicting years.This expansion is primarily owing to various significant enterprises’ dependency on inorganic materials, such as food, chemicals, paper, electronics, and many more.
Based on the technique, the global materials informatics industry is divided into the genetic algorithm, digital annealer, deep tensor, and statistical analysis.
In terms of application, the segment is further divided into chemical industries, paper & pulp, material science, research and development agencies, food science, dyes, and electronics. According to material informatics industry analysis, the electronics application account for a significant market share in the material informatics market and is expected to grow rapidly throughout the forecast timeframe. This development is the result of massive capital investment in product updates and the introduction of innovative technologies by market participants in the electronics and semiconductor industries.
Global Materials Informatics Market Regional Overview
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global materials informatic market.North America will dominate the global market in 2021. Significant investments, expanding industrialization, highly integrated technologies, and ongoing R&D activity are just a few of the reasons fueling regional growth. Another key driver to the market’s growth in North America appears to be the presence of large competitors in the region.
Besides that, the Asia-Pacific region is expected to grow at the fastest rate in the global market in the coming years due to a significant improvement in modern industries and the adoption of advanced analytics tools. Artificial intelligence, machine learning, and deep learning are expected to be the region’s emerging technologies, and their widespread adoption in manufacturing organizations has offered an appealing potential for market participants throughout the projected timeframe.
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Global Materials Informatics Market Segmentation
Market By Material
- Organic Materials
- Inorganic Materials
- Hybrid Materials
Market By Technique
- Deep Tensor
- Genetic Algorithm
- Digital Annealer
- Statistical Analysis
Market By Application
- Dyes
- Chemical Industries
- Electronics
- Research and Development Agencies
- Food Science
- Paper & Pulp
- Material Science
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Materials Informatics Market Players
Among the prominent Materials Informatics market companies featured in the report are BASF, Kebotix, Nutonian Inc., Phaseshift Technologies, Exabyte.io, Citrine Informatics, Alpine Electronics, Inc., Schrodinger, AI Materia, and Materials Zone Ltd.
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