Market Research Report
Smart Glass Market Size, Share & Trends Analysis Report By Technology (SPD, PDLC, Liquid Crystal, Electrochromic), By Application (Consumer Electronics, Architectural, Transportation), And Segment Forecasts, 2019 - 2025
|Published by||Grand View Research, Inc.||Product code||352304|
|Published||Content info||111 Pages
Delivery time: 2-3 business days
|Smart Glass Market Size, Share & Trends Analysis Report By Technology (SPD, PDLC, Liquid Crystal, Electrochromic), By Application (Consumer Electronics, Architectural, Transportation), And Segment Forecasts, 2019 - 2025|
|Published: June 19, 2019||Content info: 111 Pages||
The global smart glass market size is expected to reach USD 9.98 billion by 2025 registering a CAGR of 15.2%, according to a new report by Grand View Research, Inc. Rising product demand in residential and commercial buildings for better aesthetics is expected to boost the market growth over the next six years. Architects are widely using smart technology in new buildings, which is further expected to have a positive impact on the product demand in the architectural application sector. As smart glass is gradually replacing its conventional counterpart in the manufacturing of automobiles, aircraft, and trains, significant growth opportunities exist for manufacturers in the transportation sector.
Four prominent companies involved in the development and production of smart glass, namely Research Frontiers Inc., Vision Systems, Hitachi Chemical, and Gauzy, jointly invested for producing Suspended Particle Device (SPD)-Smart light-control film used in Electronically Dimmable Windows (EDWs) manufactured by Vision Systems. EDWs are widely used in automobiles and aircrafts. Favorable growth prospects in the construction industry, increased production of automobiles, and growing investments in infrastructure projects are factors that are propelling market growth.
Residential and commercial buildings are also getting restored and renovated to make them more energy-efficient, thereby further widening the application scope for smart glass. Electrochromic glass has proved to be an appropriate solution for buildings, such as healthcare facilities, retail spaces, and classrooms, where sunlight control is a challenge. It helps maintain access to daylight and outdoor views, which aids in quicker recovery of patients, improves emotional wellness, and increases employee productivity. Moreover, retaining daylight access can reduce a building's reliance on artificial lighting.