“Smart glass market is expected to grow at a CAGR of 16.61% between 2017 and 2023”
The smart glass market is expected to reach USD 8.35 billion by 2023 from USD 3.32 billion by 2017, at a CAGR of 16.61% between 2017 and 2023. The growth of this market is mainly driven by factors such as growing demand for smart glass in automobile applications, strong government support through mandates and legislations for energy-efficient construction, and optimal energy saving through smart glass applications. Smart glass is ideal for automobile, aviation, and other transportation applications requiring heat and glare control. In the automotive sector, smart glass is used in applications such as rearview mirrors, windows, sunroofs, and windshields. Smart glass provides protection from harmful ultraviolet (UV) rays, reduces glare, helps control heat inside the vehicle, and minimizes the energy consumed over temperature maintenance.
“Transportation and architecture applications are expected to hold significant share of the smart glass market by 2023”
The transportation and architecture are the leading applications, together accounting for more than 90% share in the smart glass market. Various benefits provided by the smart glass has led to the increased adoption of the units of this glass in the applications such as architecture, transportation, power generation plants (solar), and consumer electronics and others. Smart glass is also used in museum artwork expositions and sunglasses.
“Market in Europe is likely to grow at the highest CAGR during the forecast period”
The smart glass market in Europe is expected to grow at the highest CAGR during the forecast period. Europe consists of a number of developed countries such as Belgium, France, Germany, Italy, and the UK. This region derives its revenues from the tourism, industry, and manufacturing businesses, among others. The hospitality and automotive manufacturing sectors in this region have grown tremendously due to supportive government policies over the past few decades. The government initiatives for green buildings and energy harvesting have contributed to the rise in the popularity of smart glasses. As a result, Europe holds a significant share of the overall smart glass market.
Breakdown of the profiles of primary participants:
• By Company: Tier 1 = 45 %, Tier 2 = 35%, and Tier 3 = 20%
• By Designation: C-Level Executives = 50%, Manager Level = 30%, and Others = 20%
• By Region: North America = 43%, Europe = 29%, APAC = 21%, and RoW = 7%
The major players profiled in this report are as follows:
• SAGE Electrochromics
• Research Frontiers
• View, Inc.
• Asahi Glass Co.
• Hitachi Chemical
• Glass Apps
• Smartglass International
• SPD Control Systems
In this report, the smart glass market has been segmented on the basis of application, technology, and geography. The market has been segmented on the basis of application into architecture, transportation, power generation plants (solar), and consumer electronics & others. The smart glass market based on technology is segmented into suspended particle display, electrochromic, liquid crystal, micro-blinds, photochromic, and thermochromic. The study also covers the forecast of the market sizes for four main regions—North America, Europe, APAC, and RoW.
Reasons to buy the report
The report would help the market leaders/new entrants in this market in the following ways.
1. This report segments the smart glass market comprehensively and provides the closest approximations of the overall market size and those of the subsegments across different applications, technologies, and regions.
2. The report would help stakeholders understand the pulse of the market and provide them with the information on key drivers, restraints, challenges, and opportunities for the growth of the market.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, product launches and developments, partnerships, and mergers and acquisitions carried out in the market.