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According to a new report Global Smart Materials Market, published by KBV research, the Global Smart Materials Market size is expected to reach $73.9 billion by 2023, rising at a market growth of 13% CAGR during the forecast period.
The North America market holds the largest market share in Global Actuators & Motors Smart Materials Market by Region in 2016, and would continue to be a dominant market till 2023; growing at a CAGR of 10.7 % during the forecast period.
The Europe market is expected to witness a CAGR of 11.8% during (2017 - 2023) in Global Transducers Smart Materials Market. Additionally, The Asia Pacific market is expected to witness a CAGR of 17.7% during (2017 - 2023) in Global Sensors Smart Materials Market.
The Piezoelectric Materials market holds the largest market share in Global Smart Materials Market by Products in 2016, and would continue to be a dominant market till 2023; growing at a CAGR of 11.7 % during the forecast period. The Magnetostrictive Materials market is expected to witness a CAGR of 12.5% during (2017 - 2023). Additionally, The Electrostrictive Materials market would attain market value of $9,797.5 million by 2023.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the Global Smart Materials Market have been discussed in the report with the elaborated company profiles of CeramTec, Kyocera Corporation, LORD Corporation, Ametek Corporation (Fine Tubes Ltd.), TDK Corporation, Smart Material Corporation, CTS Corporation (Noliac A/S), APC International, Ltd., Piezo Kinetics, Inc., and Harris Corporation.
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