The Smart Glass market is anticipated to reach around USD 8,223 million by 2026 according to a new study published by Polaris Market Research. In 2017, the automotive segment dominated the global smart glass market, in terms of revenue. North America is expected to be the leading contributor to the market revenue during the forecast period.
Several stringent energy consumption regulations passed by governments worldwide have boosted the adoption of smart glass. Growing concerns regarding environment, increasing need to reduce energy consumption, and growing demand from the automotive sector further support the growth of this market. Additionally, the increasing adoption of energy efficient buildings and reducing operation costs would boost market growth during the forecast period. Other factors supporting market growth include supportive government regulations, increasing awareness, and technological advancements. Increasing investments by vendors in technological advancements coupled with research and development further boost the market growth.
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The smart glass market is majorly driven by factors including increasing energy concerns, and environment consciousness across the globe. The decreasing cost of electrochromic materials has encouraged consumers to switch to smart glass. Limited awareness among consumers had restricted the adoption of smart glass in the past. However, with significant government initiatives and substantial investments, the development of smart glass market has accelerated significantly.
North America generated the highest revenue in the smart glass market in 2017. The increasing awareness among consumers, and rising awareness regarding energy efficient buildings drive the market growth in the region. Consumers are adopting smart glass owing to stringent government regulations regarding energy consumption, and the need to reduce operation costs. Numerous key players have adopted partnership and expansion strategies to increase their share in the North America smart glass market.
The different end-users of smart glass include automotive, architecture, consumer goods, and others. In 2017, the automotive segment accounted for the highest smart market share. The use of smart glass in windows, doors, and windshields in automotive reduces the heat accumulation in vehicles. The consumer electronics segment is expected to grow at the highest CAGR.
The well-known companies profiled in the smart glass market report include Asahi Glass Co., DuPont, Gentex Corporation, SPD Control Systems, View, Inc., Corning Incorporated, Hitachi Chemical Co., Ltd., RavenBrick LLC, Switch Materials Inc., Scienstry, Inc., ChromoGenics AB, and Innovative Glass Corporation. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers
How does the report examine the growth drivers and restraints of Smart Glass market?
- The factors resulting in the expansion of Smart Glass market are elaborated in the report after thorough primary and secondary research.
- Analytical strategies focused on gain indicators affecting the growth of Smart Glass market are presented in graphical formats.
- The business-related trends driving the product consumption are discussed in detail in the report along with industry expertise to minimize the barriers to Smart Glass market growth.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect Smart Glass market growth and Smart Glass market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects of Smart Glass market in various geographical regions.
- The competitive landscape analysis on Smart Glass market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into Smart Glass market , underlining the growth rate and opportunities offered in the business.
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