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Global “Smart Glass Market” Growth (2022- 2028):
Latest market study by The Insight Partners on “Smart Glass Market to 2027 by Technology (Electrochromic, Polymer Dispersed Liquid Crystal (PDLC), Suspended Particle Device (SPD), Thermochromic, Photochromic, and Others); Application (Commercial, Residential, Power Generation, Transportation, Automotive, Aerospace & Defense, and Others) – Global Analysis and Forecast”, The Smart Glass Market is estimated to reach US$ 11.73 Bn by 2027 from US$ 2.85 Bn in 2018. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.
This factor is boosting the market demand for smart glass in the North American residential as well as commercial constructions. Construction in European countries is also increasing slowly, demanding improved building materials.
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List Of TOP KEY PLAYERS in Smart Glass Market Report are –Key players operating in the market are introducing attractive solutions and are partnering with the small as well as large companies which are helping them to gain customer traction. The major companies offering smart glass market include AGC, INC., ArtRatio S.L., Compagnie de Saint-Gobain S.A., Corning Incorporated, GENTEX Corporation, Hitachi Chemical Co., Ltd., Pleotint LLC, Polytronix, Inc., Research Frontiers Incorporated, and Smartglass International Limited among others. Several other companies are also offering these smart glasses for various end-uses which is facilitating the market to propel over the years.
Synopsis Of Smart Glass Market:
Smart glass is a vital component of the building that enable in meeting the energy efficiency and interior comfort requirements of any infrastructure. As per recent studies, it has been estimated that the energy consumptions from a building amount to a quarter of the total energy consumptions globally. In the wake of rising urbanization and industrialization, it has become imminent to find energy efficient solutions to achieve sustainability for the future generations. Also, buildings constructed in the Mediterranean climate in countries such as Spain witness winter energy losses owing to low temperatures.
Smart buildings have been a subject of focus by various industry experts and therefore, building components such as smart glass become a vital component in the entire smart building ecosystem. Besides, these glasses also foresee a decent growth application in automotive and other transportation sector.
The global market for smart glass market is segmented based on the parameters such as technology, application, and geography. Based on technology, Suspended Particle Device segment dominates the smart glass market heavily, and is expected to dominate the market in the forecast period from 2019 – 2027. On the basis of application, commercial segment led the market in 2018 with a maximum market share and is expected to continue its dominance during the forecast period
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A building’s exterior defines its value, architectural expression and to some extent even its performance. Building envelopes that form the exterior of the buildings are used to project image and creative intent of the architect. In today’s times they are increasingly considered to be the environmental moderators and work effectively for the building occupant, owner and the environment. As technology enhances, varied options become available for integrations into the smart glass for enhanced performances. After nearly a century of technological advancements, smart glass fabrication has gained giant strides. Further the façade design technology is also advancing rapidly. The current trends are extremely favorable in the major near-term market for smart glass. Large potentials for the advancement and growth of smart glass market is estimated that is also expected to achieve economies of scale gradually with increasing volumes of production. Economies of scale would lead to reduced production of smart glass and thereby bring down the overall cost of smart glass market. Substantial efforts have been initiated globally by public and private sectors equally to promote the usage of energy efficient smart glass in different applications.
Various technologies that are deployed by smart glass manufacturers include electrochromic, polymer dispersed liquid crystals (PDLC), suspended particle device (SPD), photochromic, thermochromic, and others. Suspended particle device led the smart glass market and many manufacturers are actively providing this technology.
The smart glass market is segmented by industry verticals under commercial, residential, automotive, power generation, aerospace & defense, and others. Rapid industrialization and urbanization have influenced development of many cities and thereby created huge pressures on energy consumption levels
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Key findings of the study:
The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
2019:Research Frontiers Inc. (Nasdaq: REFR) and Vision Systems launched a development program together to produce SPD-Smart light-control film used in Vision Systems’ electronically dimmable windows (EDWs). The performance and reliability of these Vision Systems’ products surpass all other products on the market, including “electrochromic” EDWs. 2018:Hitachi Chemical unveiled its plan to develop new light integrators for smaller smart glass. The company is looking for enhancing its offerings in optical plastics for smart glass by coming out with new optical integrators. Hitachi’s new product possesses the same light efficiency provided by a dichroic mirror and even in strong external light outdoors achieves high visibility. Moreover, the company sees the innovative technology as a substitute for the configuration of existing smart glass. 2017:AGC Asahi Glass, a world-leading manufacturer of glass, chemicals, and high-tech materials, and Kinestral Technologies, maker of Halio smart-tinting glass, today announced the creation of three joint venture companies that will sell, distribute, and service Halio to the global market. Formed to accelerate the adoption of Halio, the new ventures – Halio North America, Halio International, and Halio China – will be the exclusive sales and marketing agents for Halio smart-tinting glass in the commercial and residential housing industriesThanks for reading this release; you can also customize this report to get select chapters or region-wise coverage with regions such as Asia, North America, and Europe.
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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