Smart Glass Market Size and Growth Rate:
According to the Research Report, the Global smart glass market Size is expected to reach USD 6.9 billion by 2022, with a CAGR of 14.3% during the forecast period 2018 to 2022.
Smart Glass Market Drivers and Restraints:
The growth of the global smart glass market is due to the growing construction of organizational structures, such as head offices and educational institutions, to the intensification of developments in the automotive industry, to the extension of the fields of use of smart glass and new emerging skills. smart glass in the wearable technology sector. Smart glass used in the building and transport sectors allows dynamic control of glare, light and heat depending on environmental conditions or manual controls. Intelligent glass, which consumes energy efficiently, is strongly adopted in the construction sector. As buildings become more glass, building codes become stricter and energy efficiency becomes more and more important for building owners. Smart glass helps improve energy efficiency while increasing comfort and occupant satisfaction. Several positive developments have been observed in the smart glass sector, including the introduction of new production capacity on an industrial scale, increased investment and announcement of associations between smart glass technology companies, suppliers and participants ascending and descending, which stimulate the growth of the smart glass market.
However, high manufacturing costs and lack of knowledge of innovations hinder the market growth. Reducing the cost of smart glass products and increasing awareness of energy conservation offer a lucrative market growth opportunity.
Smart Glass Market – Regional Presence:
North America dominated the world smart glass market with maximum participation, both in terms of revenue and volume. This was attributed to the high percentage of manufacturers and consumers of windows and smart windows. In addition, Asia-Pacific is expected to experience the fastest growth, with a CAGR of 21.6% over the entire forecast period, due to the considerable development of the automotive industry in developing countries such as India and China.
Some of the Promising Companies leading the Global Smart Glass Market Profiled in the Report are:
- SmartGlass International
- Sage Electronics
- Hitachi Chemical
- Asahi Corporation
- PPG Industries
- Active Glass Technologies
- Gentex Corporation
The Research Report segments the Smart Glass Market into the following submarkets:
Smart Glass Market - By Technology:
- Active lenses
- passive glasses
Smart Glass Market - By Application:
Smart Glass Market – By Region:
- North America
- United Kingdom
- South Korea
- Latin America
- Middle-East & Africa