Smart Glass Market, Latest Market Segment Research Study Forecast Period 2027 Glass Co., Ltd (Japan), E-Chromic Technologies, INC. (US), Saint-Gobain Group (France), PPG Industries
Market Scenario:
The
Smart Glass Market size is expected to grow from USD 3.8 billion
before the arrival of the pandemic in 2020 to USD 6.8 billion. The global
market will be growing at a CAGR of 12.1% during the forecast period.
Governing
bodies of various countries are increasingly encouraging these energy-efficient
products. As an emerging global concept, smart glass has inherent energy-saving
and auto-dimming properties, which reduce its maintenance cost. As a result,
the perceived benefits of these glass products are more than the incurred
investments that help the global market dwell.
Smart
glass/ smart glass/ dynamic glass technology has been around for years. Some of
its key applications include tint-able windows to skylights, offices, hotels,
luxury airplanes, and curtain walls. Additionally, strong market penetration of
handheld and wearable devices accelerates the market increase. Also, growing
industrialization and urbanization worldwide fuel market growth.
Conversely,
the high production cost of Smart glass is a key factor likely to continue to
impede the growth of the market, increasing the overall price of smart glasses.
Also, the tint on this glass projects an unclear view, restricting their uptake
in cameras. Nevertheless, technology upgrades expected in the recent future
would support market growth throughout the predicted period.
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Segmentation:
The
report is segmented into three dynamics;
By Technology: SPD, PDLC, Photochromic, Electrochromic Technology,
and others.
By Application:
Power Generation, Consumer Goods, Architectural
& Construction, Transportation, Automotive, Aircraft, Marine, and
others.
By Regions: Americas, Europe, Asia Pacific, and
Rest-of-the-World.
Competitive Outlook:
Highly competitive, the
global smart glass market appears fragmented due to the presence of many
well-established players. To gain a larger competitive share, industry players
incorporate strategic initiatives such as mergers & acquisitions,
expansion, and product/technology launches. Players leading the global
smart glass market include Chromogenics AB (Sweden), Nippon Sheet Glass Co.,
Ltd (Japan), E-Chromic Technologies, INC. (US), Saint-Gobain Group (France),
PPG Industries, Inc (US), Innovative Glass Corporation (US), Ravenwindow
(Ravenbrick LLC) (US), LTI Smart Glass, Inc (US), Kinestral Technologies, Inc.
(US), AGC Inc (Japan), Hitachi Chemical Co., Ltd (Japan), Gentex Corporation
(US), Pleotint Llc (US), and Merck KGAA (Germany), among others.
Regional Analysis:
The
Asia Pacific region dominates the global smart glass market. The largest market
share majorly attributes to increasing applications of smart glasses in
protecting lives from UV rays and furniture and fabrics from fading. Moreover,
opportunities in transportation and consumer electronics sectors for SPD use in
the latest variants push the smart glass market growth.
Besides,
the rapid growth in the automobile industry and increasing investments in
infrastructural development drive the regional market. China, India, and Japan
are the largest consumer markets for smart glass in this region. Rising
applications of smart glass in residential applications push the growth of the
regional market. The APAC smart glass market is expected to remain dominant
throughout the forecast period.
North
America stands second in the global smart glass market. The market is driven by
the well-developed technology end-user industries such as construction,
automotive, and aerospace. Additionally, growing investments and the high
adoption rate of smart glass in infrastructure renovation act as a significant
tailwind for the smart glass demand. The North American smart glass market is
projected to create a substantial revenue pocket throughout the review
period.
The
Europe smart glass market is growing rapidly. Factors such as the developed
automobile and marine industries in the region provide significant smart glass
market opportunities. Besides, the growing government programs encouraging the
development of green buildings augment the use of smart glass. Countries such
as Germany, France, and Belgium account for the largest share in the regional
market. The European smart glass market is forecasted to grow at an impressive
CAGR during the estimated period.
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Table of Contents:
1 Executive
Summary
2 Scope of the
Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued….
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