Latest market study 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.
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The construction industry is expanding at a steady growth rate in the developed regions across the globe. While on the other hand, in the developing regions, the industry is experiencing a substantial growth rate. Investments in infrastructure construction industry is continuously growing across the globe. The major focus of investments is on the residential sectors as the global population is constantly increasing at an exponential rate, which is demanding more residential spaces.
The number of new residential buildings or individual houses rose rapidly over the years in the developed as well as developing nations worldwide. The US infrastructure industry is set to continue relatively fair growth rate during the forecast period which is heavily supported by residential constructions. Similarly, Canada’s New Canada Building Plan is supporting the construction industry in the country and the same is expected to drive the industry in the coming years.
The growing investments and initiatives in the residential and commercial construction in North American countries is influencing the glass manufacturers to increase their production. 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. European countries namely; Spain, Italy, and Turkey are experiencing demand for increased number of residential sectors as well as commercial spaces, thereby, catalyzing the demand for smart glass. The increased demand from the builders in the countries is propelling the production lines of glass windows and doors year on year in these countries, thereby, substantially driving the market.
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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.
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.
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