A recent report published by Infinium Global Research on smart glass market provides in depth analysis of segments and sub-segments in global as well as regional smart glass market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional smart glass market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global smart glass market. According to report the global smart glass market is projected to grow at a CAGR of 16.3% over the forecast period of 2018-2024.
Smart glass is an innovative building material which is made up of electromagnetic glass to create room partitions, electronic curtains, privacy windows for the home and office, vision panels and such other applications. These smart glasses are electrically switchable surfaces that are able to change their properties when voltage, light, and heat are applied on them. The smart glass transforms from translucent to transparent by pass electric current into the panels. Smart glass technologies contain electrochromic, photochromic, thermochromic, suspended particle, micro-blind and polymer dispersed liquid crystal devices.
Rapidly increasing use of smart glass for developments in automotive industries and government initiatives to construct energy efficient and eco-friendly buildings drives the growth of Smart glass market. In addition, enlargement of application areas for smart glass technology and its various advantages such as energy efficiency, reducing carbon emission, and providing comfort for users are expected to enhance the market growth of smart glasses over the forecast period. However, High initial cost and lack of technical expertise are considered to be the restraining factors for the growth of smart glass market. Moreover, inclinations of consumers towards energy conservation using smart glass technologies, and recent advancements in smart glass technologies are expected to serve more opportunities for companies working in this market in upcoming years.
North America dominates the market of smart glass due to the favorable government rules and regulations. Europe is expected to grow at the highest CAGR because of governments in the European countries is planned to introduce the smart glass technology in the several industrial applications.
Among the technology segment, Suspended Particle Devices (SPD) segment expected to drive the market with highest growth between 2018 and 2024. With SPD SmartGlass, users are able to control the amount of light, glare and heat that passes through a glass surface in order to create more comfortable and environmentally friendly indoor spaces. Also, SPD SmartGlass offers banalities such as emission control and regulates temperature within the structure which saves the energy cost.
The report on global smart glass market covers segments such as, technology and application. On the basis of technology the global smart glass market is categorized into electrochromic, suspended particle devices (SPD), polymer dispersed liquid crystal (PDLC), thermochromic, photochromic and liquid crystal. On the basis of application the global smart glass market is categorized into architecture, transportation, power generation plants (solar), consumer electronics and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2016-2024.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global smart glass market such as, Asahi Glass Co., Gentex, Hitachi Chemical, Pleotint, Guardian Industries Corp., Innovative Glass Corporation, Kinestral Technologies, Inc., LTI Smart Glass, Inc., PPG Industries, Inc. and RavenBrick LLC.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global smart glass market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of smart glass market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the smart glass market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the smart glass market to understand the present and future trends in this market and formulate their strategies accordingly.