Latest Research Report on Smart
Glass Market begins with a deep
introduction and then delves broad into specific segments such as raw material,
application, end user, and region, policy study, value chain structure, and
upcoming trends in particular segments or regions. The report on Smart Glass prepare
a case for investments in different regions based on a practical view of their
regulatory outline, manufacturing dynamics, and availability of skills and
resources in that region.
Smart Glass Market Report
by Material, Application, and Geography – Global Forecast to 2024 is a
professional and in-depth research report on the world’s major regional Smart
Glass Market conditions, focusing on the main regions (North America, Europe
and Asia-Pacific) and the main countries (United States, Germany, united
Kingdom, Japan, South Korea and China).
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Report Now @ https://www.millioninsights.com/industry-reports/smart-glass-market/request-sample
Industry Insights
The global Smart Glass
Market size is likely to reach USD 9.98 billion by 2025. Smart glass is also
known as magical glass or switchable glass. Smart glass changes its
transmission properties when heat, light or voltage is applied. Smart glass is
used in windows, doors, skylights, and partitions in residential and commercial
buildings. Smart glass helps to reduce the cost of heating, lighting and air
conditioning.
The market growth is
associated with the capacity of the glass to transform light and adjust heat
depending on the external environmental conditions. Building owners started
displaying an inclination towards adopting this technology, after realizing the
long term benefits attributed to energy efficiency.
The industry is achieving heights
owing to the development of strict regulations with respect to efficiency of
energy and large-scale urbanization in developing countries. Elevated
investments in the construction of smart glass in connection with the creation
of industrial-scale production capacity, has significantly added towards market
growth. Expanding consolidations among technology provider and supplier are
nourishing the progress of smart glass as per a wide range of application
areas.
Factors like growing usage
in marine, aviation and power generation are encouraging industry extension.
Growing adoption of green initiatives such as eco-friendly and green buildings,
non-electric technologies such as thermochromic, etc. are the factors that are
driving the growth of the industry. In the replacement market, shifting demand
towards active smart glass from passive smart glass design is adding stress to
the acceptance of the products.
Due to the rising
recognition of the advantages of smart glass over a plain glass in the body of
automobiles and airplanes, there has been a growth in the adoption of smart
glasses in the automobile and aircraft industries. In addition, development of
creative solutions had led to the growth of smart windows in the architectural
sector. Government support and initiatives are also adding to the industry
demand.
Technology Insights
On the basis of technology,
the market is segmented into SPD (Suspended Particle Devices) Electrochromic,
PDLC, and Thermochromic. SPD held a market share of around 40% in 2016. SPD is
an electrochromic glass that can be tuned, manually or automatically to control
the light, heat, and glare entering the premises. The growth of SPD glasses can
be traced to its high electricity saving capabilities.
Electrochromic glass
applies the electrochromism principle, which allows the materials to change the
color or opacity when a burst of charge is applied. Electrochromics and SPD are
used commonly in automotive and architecture applications. Thermochromic is
used for power generation application.
Due to the increased
attention on the use of ‘Green Energy,' the North America and European regions
are predicted to come up as the leading markets for liquid crystal (LC) smart
glass. Besides, the high durability and quick light control capacity of liquid
crystal smart glass is anticipated to increase the demand throughout the
forecast period.
Application Insights
On the basis of
application, smart glass market is segmented into Architectural, Transportation
and Consumer Electronics. The Transportation segment dominated the market with
a revenue share of 45% in 2016. It is anticipated to come up as the most
advantageous segment due to the growing acceptance of this technology by
premium and medium-sized car manufacturers. The enormous tuning and
fast-switching features of smart glass facilitate to reduce unwanted glare and
light thus allow user to appreciate the glare-free view. The heat-blocking
features help in improving the fuel efficiency and reducing the carbon
emissions in vehicles.
Also, automotive OEMs
(original equipment manufacturer) are highlighting to lower both the CO2
emissions and energy consumption. To fulfill this, producers are creating
solutions such as anti-heat glass and glazing solutions. The increasing
penetration of luxury automobiles in the Asia Pacific region as well as
increased income levels of the audience are the major drivers for the growth of
the industry in automotive applications. Similarly, in the aerospace sector,
several OEMs including The Boeing Company, Beechcraft Corporation, Airbus SAS,
Bombardier Inc. and Embraer S.A. are transitioning towards electronically
dimmable windows.
The construction sector is
supposed to be promising sector due to its higher rate of growth with
continuous investments in smart technology. In the Middle Eastern region, a
majority of high towers and skyscrapers have integrated smart glass for
exterior structure fabrication so as to enhance reduction of heat and light
transmissions thus maintaining internal ambiance.
Regional Insights
North America dominated the
smart glass market in 2016 with a share close to 35%. Favorable regulations and
instructions have led to the growth of these products in the region, thus
enabling overall saving of energy and reduction the maintenance costs which
leads to a positive impact on the growth of the market.
The European Union
territories and the U.S. governments are planning to regulate the adoption of
smart glass-incorporated electronics equipment and have directed their
transport departments toward the same. Furthermore, the existence of key
participants and rising production of automotive are fueling the market growth.
The industry is expected to
be directed by the acceptance of premium products, such as laminated glazing,
and the legislation of energy conservation regulations to build in mature
markets such s Europe and North America. In the case of developing markets,
growing construction sector is anticipated to provide growth avenues.
Competitive Insights
The major participants in
the industry include Saint-Gobain S.A., Asahi Glass Co., Ltd, DuPont, and
Corning Incorporated. The industry is dominated by a few major players who
provide niche solutions for end-use applications.
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