October 19, 2021 06:48 ET | Source: Research and Markets Research and Markets
Dublin, Oct. 19, 2021 (GLOBE NEWSWIRE) -- The "Global Smart Glass Market Size, Share & Trends Analysis 2021-2028" report has been added to ResearchAndMarkets.com's offering. The global smart glass market size is expected to reach USD 7.5 billion by 2028 and is expected to expand at a CAGR of 6.8% from 2021 to 2028.
The growing demand across the transportation and architectural sectors is expected to fuel the market growth over the forecast period. Moreover, the growing trend of using smart technology in new buildings has propelled the demand for smart glass products in the architectural sector. Modern-day glass solutions offer on-demand privacy in the form of dynamic glazing or smart glass. The technologically-advanced products can turn from clear to opaque in no time. Furthermore, smart glass can help transform the indoor experience by providing an outside view and preserving environmental sustainability.
As a result, the demand for smart glass in hospitals, restaurants, and commercial buildings is soaring. Moreover, residential buildings are getting renovated to make them more energy efficient, thereby providing new business avenues for glass manufacturers. The liquid crystal or PDLC smart glass technology segment is expected to grow at a substantial rate over the forecast period. The growth can be attributed to the operational feasibility of the technology offering a fast response time and optical translucency
. Ultra-fast switching speed, low power consumption, and low haze are other benefits promoting manufacturers and product developers to increase the usage of liquid crystal glass in windows and partition walls. High stability for heat, UV, and moisture, low driving voltage, and long lifetime are the other factors driving the demand for PDLC smart glass. Power generation is a key emerging application of smart glass technology. Researchers from Shanghai University have discovered the ideal material for smart windows that can convert sunlight into electricity.
Smart windows designed to generate electricity could reduce the buildings' air-conditioning demand, making a sizeable environmental impact. Thus, architects and urban planners are increasingly focusing on the adoption of smart glass technology in new buildings. The global market is highly competitive, with each manufacturer striving to provide superior products by differentiating them either on the basis of quality or service. Since smart glass is significantly costlier compared to its legacy counterpart, it is vital to ensure a good value proposition to gain market share. Smart glass manufacturers are focusing on integrating voice-activated controls in their products for window tinting.
SAGE Electrochromics, Inc., a subsidiary of Saint-Gobain S.A., and Kinestral Technologies, Inc. are providing Amazon echo voice-activated technology for smart glass. Smart Glass Market Report Highlights
Market Size and Growth Prospects, 2017 - 2028
Liquid Crystal Smart Glass Technology Landscape
For more information about this report visit https://www.researchandmarkets.com/r/1xfv6f