A new market study, titled “Discover Global Smart Glass Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Smart glass, commonly known as switchable glass denotes glazing or glass whose light transmission properties are altered when light, voltage, or heat is applied. In general, the glass transforms from transparent to translucent and vice versa. Smart glass technologies include photochromic, electrochromic, thermochromic, microparticle, suspended-particle, micro-blind, and polymer-dispersed liquid-crystal devices.
When installed in the envelope of buildings, this glass builds climate adaptive building shells. The growing adoption of sustainable solutions in the automotive and architectural sector, and improving government initiatives for energy conservation are main factors contributing to the smart glass market growth.
The rising demand for energy-efficient glasses coupled with an affordable price of electrochromic elements is projected to drive the demand for the smart glass. Moreover, increasing infrastructural investments by governmental and non-governmental organizations in developing and developed countries, and rising restoration and renovation activities are further expected to stimulate market growth over the forecast period.
However, the factors like the increased price of smart glasses compared to flat glasses, and lack of understanding among customers are expected to limit the market growth during the forecast period. Smart glass technology is attaining prominence as it facilitates energy conservation, symptoms 3D designer proposition, and enables acoustic and thermal insulation. Furthermore, smart glasses follow green technology theories which means they are highly eco-friendly while altering their properties. Besides, these glasses can switch their properties manually or automatically in accordance with the external temperature, to maintain the amount of heat.
Experts suggest that smart glasses possess low reflection that minimizes the glare. Simultaneously, these glasses provide the potential for saving about 25% of the electricity consumption in residential and commercial buildings through dynamic control of solar heat through windows.
Key Players of Global Smart Glass Market =>
The report profiles the following companies, which includes Polytronix, PPG Industries, Asahi Glass Co., Ltd., ChromoGenics AB, DuPont, Saint-Gobain, Scienstry Inc., Ravenbrick, Gentex Corporation, Hitachi Chemical Co., Ltd., LTI Smart Glass, Inc., and Pleotint LLC.
According to the report published in DataM Intelligence, the global smart glass market can be forecasted on the basis of the following segments-
Based on the technology, the smart glass market can be segmented into-
• Active Glass (Suspended Particle Display, Electrochromic Glass, Polymer Dispersed Liquid Crystal, others)
• Passive Glass (Thermochromic Glass, Photochromic Glass)
According to the research, the active glass technology segment is accounted to hold a substantial market share and is expected to lead the overall market during the forecast period.
Based on end-user segment, the global smart glass market can be segmented into-
• Automobiles/ Transportation
• Consumer Electronics
• Architectural/ Construction
• Power generation plants
The automobile end-user segment held the highest market share in the year 2018 and is likely to maintain its dominance over the forecast period. However, the construction segment is expected to register the highest growth rate over the forecast period.
Based on regions, the global smart glass market can be segmented into-
• North America
• Central and South America
• The Middle East and Africa
North America is propelled to lead the global smart glass market, followed by Europe. The market development is mainly attributed to the increasing government investments for energy-efficient product and the existence of well-known market players in the region.
Europe is predicted to have the second-highest market shares of the smart glass market owing to the significant capital investment by leading market players and the growing popularity of smart glass for building purposes.
Also, Asia-Pacific is likely to develop as the rapidly growing region in the global smart glass market. This growth is mainly driven by growing development activities particularly in the automotive sector of the developing countries such as India and China. Moreover, a growing urban population coupled with increasing disposable income is also anticipated to stimulate market growth over the forecast period.
Google Glass failed miserably and after learning from its mistakes, Facebook has teamed up with Ray-Ban’s parent company Luxottica to develop its own AR smart glasses. Analysts suggest that the partnership will result in the development of smart glasses which are expected to arrive sometime around 2023.
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