Smart Glass Market is projected to grow at a CAGR 12.01%
Knowledge Sourcing Intelligence announces the publication of a new report on “Smart Glass Market – Forecasts from 2020 to 2025” to their offering.
Economic incentives from the governments, environment-friendly policy as well as the distinctive aesthetics and technical attributes realized by the end-use industries are among others the key drivers expected to lead to smart glass market growth.
According to the report, the Smart Glass Market is expected to reach US$8.863 billion by 2025, from US$4.488billion in 2019.
The growth of the smart glass market is dependent on several factors as mentioned below
The inherent capabilities of smart glasses to provide acoustics and thermal insulation energy conservation design aesthetics have rendered smart glass as the most sought after viable sustainable solutions that are being increasingly integrated within the architectural and automotive sectors. Despite the dampening effect due to the ongoing CoVID 19 automotive industry is expected to rebound with full force in the coming years. Further, investments in the construction industry are continuously rising, besides, numerous opportunities brought about by projects pertaining to renovation and restoration of windows are also expected to leave ample room for the growth of the smart glass market in the next few years. The active type of smart glasses such as the segment of electrochromic smart glass is expected to witness significant growth due to its one-of-a-kind-aspects of high blockage ratios of hazardous UV and IR rays as well as low response time for effects to take places simultaneously consuming low voltage. This cognizance is evidenced by the recent announcement of the development partnership between a Vancouver, BC, Canada based venture-backed advanced materials university spin-off called Click Materials that was founded in 2012 and CARDINAL GLASS INDUSTRIES, INC which is a management-owned S-Corporation that is at the forefront of the industry in the development of residential glass development intended for windows and doors. Under the purview of this agreement a smart window solution that has been developed by Click’s patent technology that has, among other, enabled the reduction of electrochromic glass product cost by 60% will be made more accessible to millions of North America homeowners who are eagerly inclined to reduce their energy consumption.
The aforementioned is also another example of the keenness with which consumers are considering the integration of the spaces with technology that are more only environment friendly but also adds to their aesthetics without burning a hole in their coffers. Along with the same enthusiasm and coupled with the increased affordability of consumers the automotive sector too, is poised to contribute to the growth of the smart glass market in the next few years due to the increasing preference of benefits like the low driving voltage, the high endurance of heat and humidity as well as UV tolerance enabling the substance of comfortable ambient temperature. This has necessitated the use of smart glasses that also enable the integration of privacy control solutions. From the perspective of policy interventions, it is important to note that, certain regulations have been laid by Leadership in Energy and Environmental Design (LEED) and Nearly Zero-Energy Buildings (NZEB) which have helped in fuelling the momentum of green building construction that necessitates the use of eco-friendly materials as it is concerning certain automotive laws that in light of security concerns have permitted certain type of tints and glazes, Therefore the aforementioned is anticipated to benefit the growth of the smart glass market, especially in the European region.
Updates on smart glass market developments
January – New Consumer Offering – Established in 1974 GENTEX CORPORATION (NASDAQ: GNTX), a world leader in electronics and rearview mirrors with automatic dimming features intended for the automotive industry, aircraft windows that are dimmable and are intended for aviation markets and provider of fire protection products reportedly announced that Airbus S.A.S (BMAD: AIR; Euronext Paris: AIR; FWB: AIR) is making the former’s latest generation of electrochromic windows on its aircraft to provide its customers the option of darkening their aircraft windows selectively as desired by them concomitantly enabling the savior the scenery outside. This new technology integrated windows not only need eliminating the requirement for window shades but also incorporates a solution pertaining to heat control blocking infra-red rays simultaneously reducing the dependence of air-conditioning.
As a part of the report, the major players operating in the smart glass market which have been covered are Saint-Gobain Group, Corning Incorporated, Hitachi Chemical Co., Ltd., Smartglass International Limited, Asahi India Glass Limited, Gentex Corporation, Polytronix, Inc, View, Inc., and Halio North America LLC
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/smart-glass-market
This report segmented the smart glass market on the basis following terms:
- Electrochromic (EC)
- Suspended Particle Devices (SPD)
- Polymer Dispersed Liquid Crystal (PDLC)
By End User
- North America
- South America
Middle East and Africa
- Saudi Arabia
- Asia Pacific
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