According to a
recent market research report published by Transparency Market
Research, the global smart glass and window market is estimated
to expand robustly at a CAGR of 14.7% during the period between 2015
and 2021. The report, titled “Smart
Glass and Window Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2015 - 2021,” projects the global
smart glass and window market to be valued over US$6 bn by 2021. The
overall market stood at a valuation of US$2.2 bn in 2014.
Smart glass refers
to a special glass whose light transmission properties are altered on
application of light, voltage, or heat. Technological advancements
have led these glasses to be used for ensuring energy effectiveness,
proper fuel consumption, user comfort, and blockage of harmful
radiation. The growing awareness about efficient energy consumption
has propelled the demand for smart glass and window across the
construction and automotive sector.
The growing need for
energy efficiency and the rising demand for smart glasses in
automobiles are the key factors driving the global smart glass and
window market. However, the high cost of smart glass is expected to
restrain the overall market during the forecast horizon. The global
smart glass and window market has a huge opportunity to expand with
the growing demand from Asia Pacific and extensive usage of smart
glass in new application areas.
On the basis of
technology, the global smart glass and window market has been broadly
categorized into active and passive. The active smart glass and
window segment has been divided into suspended particle device (SPD),
polymer dispersed liquid crystals (PDLC), electrochromic, and others.
The passive smart glass and window segment has been sub-segmented
into thermochromic and photochromic. The active smart glass and
window segment led the overall market in 2014 and accounted for a
share of more than 80%. These active smart glass and windows are
extensively used across the transportation and construction sectors.
Among the various types of active smart glass and window, the demand
for suspended particle device (SPD) was the highest in 2014. The
photochromic smart glass and windows accounted for the largest share
in the passive smart glass and window segment.
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In terms of
application, the report segments the global smart glass and window
market into aircraft, construction, automotive, and marine. The
automotive sector dominated the overall market in 2014 due to the
increased demand for fuel efficiency, passenger privacy, and
protection from radiation.
The report studies
the smart glass and window market across four key regions: Asia
Pacific, North America, Europe, and Rest of the World. In 2014, North
America was the largest market for smart glass and window and held
30% of the overall market. The rising consumer awareness about energy
conservation across the U.S. and Canada, along with technological
advancements has propelled the growth of this regional market. Europe
emerged as the second largest market with a share of 25% in the
global market. The smart glass and window market in Europe has been
driven by rising architectural developments and the existence of
large glass formats.
Describing the
competitive landscape, the report profiles some of the key players in
the global smart glass and window market such as Hitachi Chemical Co.
Ltd.(Japan), Research Frontiers Inc.(U.S.), Pleotint Llc.(U.S.), View
Inc.(U.S.), Compagnie de Saint-Gobain S.A.(France) and Asahi Glass
Co. Ltd.(Japan). The key players account for more than 80% of the
market.
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Research (TMR) is a global market intelligence company providing
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business reports.
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