Market Research Report
Smart Glass Market by Technology (SPD, Electrochromic, PDLC, Thermochromic), End-Use Industry (Architecture, Transportation, Power Generation, Consumer Electronics) - Global Forecast to 2022
|Published by||MarketsandMarkets||Product code||257147|
|Published||Content info||195 Pages
|Smart Glass Market by Technology (SPD, Electrochromic, PDLC, Thermochromic), End-Use Industry (Architecture, Transportation, Power Generation, Consumer Electronics) - Global Forecast to 2022|
|Published: September 6, 2016||Content info: 195 Pages||
The smart glass market is expected to reach USD 8.13 billion by 2022 from USD 2.34 billion in 2015, at a CAGR of 19.2% between 2016 and 2022. Improving the energy efficiency of infrastructures is imperative and inevitable to address the energy supply and demand. Switching to smart windows can significantly help reduce the overall energy consumption. Smart windows are made of smart glass, which regulates the amount of light passing through them depending on the time of the day. Thus, windows with smart glass can switch from being translucent to transparent without consuming a large amount of energy.
According to the U.S. Department of Energy, the use of smart glass can reduce energy consumption by almost 40%. This energy-saving property of the smart glass is a driving force for the smart glass market.
Smart glass is ideal for automobile, aviation, and any other transportation applications where heat and glare control are required. In the automotive sector, smart glass is used in applications such as rear view mirrors, windows, sun roofs, and windshields. Smart glass provides protection from harmful UV rays and glare, helps to control heat inside the vehicle, and saves energy. Hence, it is expected to have a major demand in the automotive sector during the forecast period.
Europe and North America hold the largest share of the smart glass market. North America and Europe are the biggest contributors in this industry in terms of consumption and manufacturing capacities. Players such as SAGE Electrochromics (U.S.), Research Frontiers Inc. (U.S.), View Inc. (U.S.), PPG Industries (U.S.), and Corning Incorporation (U.S.) have manufacturing facilities in these two regions. Green building initiatives, supportive government policies, and need for energy-efficient products are driving the European and North American smart glass market. The governments of many European countries are framing policies to encourage the use of energy-efficient products. Moreover, the revised government building construction and efficiency standards would further drive the European market. Currently, Europe is the leading market in smart glass; however, the APAC market is expected to provide stiff competition to the European market after 2022 owing to the demand from its architecture sector.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of the profile of primary participants is given below:
Given the rising demand for energy-efficient solutions and the emerging green building concept, the smart glass market has a huge opportunity for expansion in the next five years.
The report profiles the key players in the smart glass market with their respective ranking analysis. The prominent players profiled in this report are SAGE Electrochromics (U.S.), Research Frontiers, Inc. (U.S.), View, Inc. (U.S.), AGC, Ltd. (Japan), PPG Industries (U.S.), Gentex Corp. (U.S.), Hitachi Chemicals Co., Ltd. (Japan), Glass Apps. (U.S.), Pleotint, LLC (U.S.), RavenBrick LLC (U.S.), Scienstry Inc. (U.S.), SmartGlass International Ltd. (Ireland), and SPD Control System Corporation (U.S.).
The research report segments the smart glass market into the following submarkets:
*Details on Overview, Products and Services, Financials, Strategy & Development might not be Captured in case of Unlisted Companies.