Global Smart Glass Market segmented by technology (electrochromic, PDLC, SPD, thermochromic, photochromic), by Application (Architectural, Transportation, Consumer electronics, Power generation), by Geography (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) – is expected to reach US$ 8.43 Bn by 2026, at a CAGR of 13.74%.
Smart glass plays a vital role in saving the excessive consumption of energy needed for cooling, lighting, and heating in green buildings. Green buildings are being promoted by governments of the established economies. This has been the major driving factor for the growth of the global smart glass market. The growth of the global smart glass market is driven by developing the construction of organizational structures such as corporate offices and educational institutions, growing developments in the automotive industry, expanding application areas of smart glass, and emerging new competencies of smart glass in the wearable technology sector.
However, high costs associated with smart glass and readily available cheap alternatives may hinder the growth of the global market in the upcoming years. A decrease in the cost of smart glass products and improved awareness about energy conservation offer a lucrative opportunity for market growth.
Electrochromic technology is anticipated to hold the largest share of the smart glass market
Based on technology, Electrochromic technology is anticipated to hold the largest share of the smart glass market based on technology, the growth of the market for this technology attributed to a shorter switching time exhibited by this glass to switch from clear to dark state and growing investments in this technology from the smart glass market players.
Transportation segment is one of the key applications of smart glasses market
In terms of application, Transportation segment is one of the key applications of smart glasses. They are usually used as windows, doors, sunroofs, rear-view mirrors, and windshields. The need for minimizing heat build-up and restraining the viewing degree is driving the demand in this sector. Moreover, the lowering of energy consumption and CO2 emissions are enabling manufacturers to improve anti-heat glass and glazing solutions.
Asia-Pacific is anticipated to show the highest growth rate during the forecast period.
In terms of region, North America accounted for the largest share owing to rise in the utilization of suspended particle devices (SPD) and acceleration in the production of smart glass windows. However, Asia-Pacific is anticipated to show the highest growth rate during the forecast period.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as Gentex Corp., Active Glass Technologies PLC, Essex Safety Glass Ltd., InvisiShade, LLC, Nippon Sheet Glass Co. Ltd., Domoticware, Essex Safety Glass Ltd., GlasNovations Ltd., Guardian Industries, E. I. du Pont de Nemours and Company, SPD Control Systems Corporation, VELUX Danmark A/S, ChromoGenics, NeoView Kolon, and Glass Apps, LLC.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the global smart glass market. Report encompasses the market by different segments and region, providing the in-depth analysis of the overall industry ecosystem, useful for making informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global smart glass market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global smart glass market positioning of competitors.
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