Smart Glass Market to Document Massive CAGR of 18.3 Bn from 2021-2031| Players Include are DuPont, iGlass, Research Frontiers etc
Smart Glass Market:
Introduction
Transparency Market Research delivers key insights
on the global smart glass market. In terms of revenue, the global
smart glass market is estimated to expand at a CAGR of 14.5% during
the forecast period, owing to numerous factors regarding which TMR offers
thorough insights and forecast in its report on the global smart glass market.
The global smart glass market is broadly affected
by several factors, including increase in usage of smart glass in various
end-use industries such as architectural, consumer electronics, transportation,
and solar power generation. Rise in global demand for transportation has led to
significant increase in usage of smart glass. Increase in production and demand
for smart glass in the transportation industry is expected to be the primary
driver of the global smart glass market.
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Smart Glass Market:
Dynamics
Smart glass, also known as privacy glass, or
switchable glass, is a technology type that enables control of numerous light
forms including UV and visible light. These glasses are based on technologies
that enable polycarbonate or glass to switch from a clear to opaque or shaded
versions. The benefits attached to these glass types are estimated to be key
factors boosting the smart glass market. The smart glass technology can be
utilized in partitions, windows, and numerous transparent surfaces across
varied sectors. Thus, increasing use of these technologies is projected to
propel the smart glass market.
The rising demand for energy-efficiency, light and
heat control, privacy, automated shading, and design innovation is driving the
demand for smart glass. Smart glass, also known as electronically switchable
glass, opens an array of possibilities for architects and interior designers to
control light, glare, and UV radiation.
The use of smart glass is considerably popular in
premium cars. Auto thermal cooling and heating, according to external weather
changes, is extremely important and enhances fuel efficiency with less pressure
of fuel management on car engines. Hence, rise in smart glass installations on
sunroofs, side and rear windows, sun visors is driving the global smart glass
market.
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The global transportation segment is expected to
expand considerably during the forecast period. Thus, a rise in production of
transportation is projected to boost the demand for smart glass during the
forecast period.
Manufacturers are focusing on transportation, as
the share held by this segment in the smart glass market is likely to increase
during the forecast period.
Smart Glass Market:
Prominent Regions
North America holds major share of the global smart
glass market. The market in the region is anticipated to expand at a CAGR of
more than 15.3% during the forecast period. Increase in demand for smart glass
in various end-use industries such as architectural, transportation, and solar
power generation is driving the smart glass market in North America. The U.S.
is a key country of the smart glass market in North America. It held a
significant share of the smart glass market in North America in 2020. The
country is estimated to maintain its dominant position in the market in the
region during the forecast period.
Asia Pacific is also a prominent region of the
global smart glass market. China led the smart glass market in Asia Pacific in
2020. Increase in demand for smart glass in architectural and transportation
sectors is driving the market in China.
Smart Glass Market:
Major Players
The global smart glass market is consolidated with
the presence of key players. Prominent players operating in the global smart
glass market include DuPont, ASAHI GLASS CO., LTD., Saint-Gobain S.A.,
Polytronix, Inc., ChromoGenics AB, Smartglass International Limited, Innovative
Glass Corporation, GUARDIAN INDUSTRIES CORP, Research Frontiers, and iGlass.
Global Smart Glass
Market: Segmentation
Smart Glass Market,
by Technology
·
Electrochromic
·
Thermochromic
·
Photochromic
·
Liquid Crystal
·
Suspended Particle Device
Smart Glass Market,
by End-use
·
Architectural
·
Consumer Electronics
·
Transportation
·
Solar Power Generation
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Smart Glass Market – Scope of Report
The
latest study collated and published by Transparency Market Research (TMR)
analyzes the historical and present-day scenario of the global smart glass
market in order to accurately gauge its future growth. The study presents
detailed information about the important growth factors, restraints, and trends
that are creating a landscape for the growth of the global smart glass market
so as to identify growth opportunities for market stakeholders. The report also
provides insightful information about how the global smart glass market would
expand during the forecast period of 2020 to 2031.
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