Market Research Report
Smart Glass Market with COVID-19 Impact by Technology (Suspended Particle Display, Electrochromic, Liquid Crystal), Application (Architecture, Transportation, Consumer Electronics), and Geography - Global Forecast to 2025
|Published by||MarketsandMarkets||Product code||961328|
|Published||Content info||181 Pages
Delivery time: 1-2 business days
|Smart Glass Market with COVID-19 Impact by Technology (Suspended Particle Display, Electrochromic, Liquid Crystal), Application (Architecture, Transportation, Consumer Electronics), and Geography - Global Forecast to 2025|
|Published: September 17, 2020||Content info: 181 Pages||
"The smart glass market is expected to grow at significant CAGR during the forecast period."
The smart glass market size is expected to grow from USD 3.8 billion in 2020 to USD 6.8 billion by 2025, at a CAGR of 12.1% during the forecast period. The growth of the smart glass industry is driven by factors, such as the growing adoption of smart glass in automotive application and, declining prices for eletrochromic material.
Other major driving factors for smart glass adoption include supportive government mandates and legislation on energy efficiency. Governing bodies of various countries are increasingly encouraging the use of these energy-efficient products. 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.
"Electrochromic technology is likely to hold the largest share of the smart glass market in 2020."
The electrochromic smart glass technology dominated the smart glass market. The electrochromic technology has long been used in rearview mirrors across the automotive sector. With the recent advancements, it has also found applications in switchable windows, sunroofs, and so on. Though the electrochromic smart window technology is not used much in the architecture or building applications, it is expected to revolutionize the architecture sector in the coming years, accounting for a major share of the market by 2025. Commercial buildings (corporate and government) are expected to be early adopters of the electrochromic technology.
"Transportation application is expected to account for the largest market share in 2020."
The transportation application accounted for the largest share of the smart glass market in 2020 as many automobile manufacturers have been incorporating smart glass materials in their vehicle designs to benefit from its antiglare property, remote access capacity, and dynamic light emission adjustment properties. In transportation another major application area for smart glass are in the form of doors, windows, sunroofs, windshields, rearview mirrors, and skylights. Smart glasses help minimize heat generation, provide shading, limit the viewing scope, and offer privacy to users.
"UK considered major markets for smart glass"
UK is expected to lead the overall smart glass market in the coming years. Technological advancements and a recovering economy act as driving factors during the growth period. Rapidly increasing energy cost is likely to trigger the demand for energy-efficient products. The ability of smart glass to reduce the overall energy consumption of a building while offering attractive features such as on-demand privacy or glare-control is expected to multiply its applications.In extreme weather conditions prevalent in several areas of Europe, smart glass offers a suitable solution for maintaining the internal temperature of buildings or vehicles, thus saving the overall energy costs.
In this report, the smart glass market has been segmented based on the technology, applications, and geography. The smar glass market, by technology, has been segmented into electrochromic, photochromic, suspended partical display(SPD), Liquid crystal (LC), micro-blind and thermochromic . In addition, the study segments the market by application into architechture, transportation, power generation (solar), consumer electronics and others. The study also covers the market in regions:North America, Europe, APAC and Rest of the world.
Key benefits to buy the report
The report would help key players/new entrants in this market in the following ways.
1. This report segments the Smart glass market comprehensively and provides the closest approximations of the overall market size and that of the subsegments across different applications and regions.
2. The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the market. The competitive landscape section includes competitor ecosystem, product launches and developments, partnerships, and mergers and acquisitions carried out in the market in the recent past.
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)**
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.