Pune, July 13, 2020 (GLOBE NEWSWIRE) -- The global smart glass market size is projected to reach USD 15.02 billion by 2026, exhibiting a CAGR of 18.20% during the forecast period. Heightening energy consumption in urban areas worldwide will stoke the adoption of switchable glass, suggests Fortune Business Insights™ in its report, titled “Smart Glass Market Size, Share & Industry Analysis, By Technology (Polymer Dispersed Liquid Crystal (PDLC) Glass, Suspended Particle Device (SPD) Glass, Electrochromic (EC) Glass, Photochromic Glass, and Thermochromic Glass), By Application (Architectural, Automotive & Transportation, Consumer Electronics, Power Generation, and Others), and Regional Forecast, 2019-2026”.
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According to the International Resource Panel, current energy intake patterns in cities around the world will lead to 8-17 tons of resource consumption per person by 2050. UN-Habitat estimates that cities are responsible for 75% of global energy consumption and emit 80% of greenhouse gases (GHGs) annually. The major reason for these startling figures is the energy-inefficiency of buildings and houses in urban areas, which can be seen in the form of excessive absorption of sunlight leading to overuse of air conditioners. Smart glass can prove to be a feasible solution to this issue as these glass products can prevent over-intake of sunlight during summers and provide effective insulation during winters. Thus, potential energy savings offered by smart glass products is expected to fuel the market growth in the coming years.
The report states that the value of the market was USD 3.97 billion in 2018 and answers the following questions:
- Which are the leading market trends?
- Which factors are majorly driving the market?
- What are the top market segments?
- How are changes in regional dynamics influencing market growth?
- Who are key market players and what are their dominant strategies?
Market Driver
High Applicability of Switchable Glass Solutions in Aerospace to Propel the Market
Airplane window seats in airplanes are much sought-after by fliers, particularly for long-distance journeys. However, it is commonplace occurrence for passengers to face the issue of glare and direct heat during daytime flights as these windows are mostly not tinted, forcing passengers to pull down the window visor.
Glass industry companies have been innovating smart glass solutions to overcome this challenge and make window seats worth their premium. Vision Systems, for instance, developed smart windows that can reduce cabin temperature by 18 degrees Fahrenheit, thus helping save air conditioning costs for the airliner. Another example is US-based Gentex who successfully installed smart glass windows in Boeing’s 787 Dreamliner. Thus, the benefits of these glass products is driving their adoption in the aviation industry and accelerating the smart glass market growth.
Browse Summary of This Research Report with Detailed Table of Content: https://www.fortunebusinessinsights.com/smart-glass-market-102569
Regional Insights
Strict Imposition of Environmental Laws to Stoke Smart Glass Uptake in Europe
Revenue-wise, Europe is anticipated to dominate the global market share in the foreseeable future on account of the stringency of environmental regulations in the region to reduce carbon and other GHG emissions. Additionally, the demand for green building materials and sustainable automotive technologies is further propelling the growth of the regional market.
On the other hand, North America is expected to dominate the smart glass market share owing to escalating demand for switchable glass from the healthcare and consumer electronics industries. The market size of the region stood at USD 1.31 billion in 2019. In Asia Pacific, rapid expansion of the automotive and construction sectors in India and China is anticipated to augment the market growth in the coming years.
Competitive Landscape
Launch of Path-Breaking Product by Top Companies to Fire up Market Competition
The key players are looking to exploit the wide scope for innovation in this market, intensifying their R&D efforts to introduce game-changing innovations for customers. Release of such products is allowing companies to entrench their position in the market and broaden their product offerings.
Industry Developments:
- January 2020: Gentex Corporation proudly displayed its product line of dimmable glass systems at the CES 2020 held in Las Vegas. The company showcased its dimmable sunroofs installed in different vehicles, which are designed to darken or lighten according to the weather.
- September 2019: Corning Inc., the US-based specialty glass maker, secured fresh investment from Apple of USD 250 million to develop advanced glass solutions for the tech giant’s flagship devices. The funding will be utilized by Corning to enhance its R&D capacities and equip next-gen Apple products with state-of-the-art glass products.
List of Key Companies Profiled in the Smart Glass Market Report are:
- GENTEX CORPORATION
- Saint-Gobain
- Gauzy Ltd and Entities
- SCHOTT AG
- Essex Safety Glass
- Asahi India Glass Ltd.
- SPD Control Systems Corporation
- Smartglass International Limited
- Corning
- BSG Glass
- Central Glass Co., Ltd.
- NSG Group
- Scienstry, Inc.
- Research Frontiers
- Glass Apps
- Pleotint LLC
- Polytronix, Inc.
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary.
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Global Smart Glass Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Technology
- Polymer Dispersed Liquid Crystal (PDLC) Glass
- Suspended Particle Device (SPD) Glass
- Electrochromic (EC) Glass
- Photochromic Glass
- Thermochromic Glass
- Market Analysis, Insights and Forecast – By Application
- Architectural
- Automotive & Transportation
- Consumer Electronics
- Power Generation
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of World
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