The report on Smart Glass Market offers a detailed analysis of the MARKET size, growth, segments, key players, growth drivers as well as the challenges faced by the industry during 2016-2022. It covers various significant aspects including the growth opportunities and threats prevalent in the market. The various strategies to be adopted by investors and other clients in order to ensure successful business growth are also mentioned in the report.
Smart glass (also called smart window or switchable glass) is an avant-garde technology which uses electrochromism to let your windows change colours automatically when electric voltage is applied across them. This regulates the heat and light into the room automatically according to the day conditions and saves energy.
The global smart glass market is divided on the basis of technology as follows: electrochromic, photochromic, thermochromic, micro, polymer dispersed liquid crystal and suspended particle. Creating climate adaptive building shells, they help save energy costs of heating, air conditioning and lighting. Critical aspects of smart glass include material costs, electricity costs and durability, installation costs as well as functional features such as the speed of control, the degree of transparency and possibilities for dimming.
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The end users of this technology have ever been rising ever since and the sectors employing this technology have also been adding on. The global market end users include: architectural (for home and commercial complexs), automobile which is the leading end user of smart glass, solar power generation users which are expected to drive the market in future after automobile and sunglasses and museums.
Energy efficiency, user comfort and reduces carbon emission are some of the many advantages of smart glass. These advantages have led to increased use of these glasses in personal vehicles and homes. The smart glass market is expected to rise in the near future and the factors driving this growth are:
1. Growing use of green initiatives and awareness about energy consumption
2. Use of eco-friendly vehicles and building
3. Non-electric technologies such as thermochromics
4. Government support and initiatives for encouraged use of smart glass
The factors which are posing to restrain the growth of the smart glass market include:
1. High Cost as compared to its other alternatives
2. Slow response in case of large smart glass
3. Concern about maintaining the exact colour balance
4. Lack of awareness about its use and benefits
In the near time, global smart glass market is estimated to witness commercialization, it will be in terms of enhanced operation and cost efficiency, and wide range of applications and incorporation of advanced materials.
The market for smart is segmented into two main verticals: technology and end user applications. On the basis of technology, the market is further segmented into thermochromic device, electrochromic devices, suspended particle devices, micro blinds and liquid crystal devices. Whereas LCD technology is mainly used in electronic devices, suspended particle and electrochromic are used in automotive and architectural applications. Power generation uses the remaining three technologies.
On the basis of end user applications, transportation and architectural industry dominate the market for smart glass. In transportation industry, smart glass is used in automotive, airplanes, car, bus and marines. Smart glass is used in sun visors, sun roofs, side and rear windows in the top-class premium cars. Smart glass control heat and light. Because of this there is increased use of smart glass in architectural projects where they are used as windows, doors, partitions and skylights. Use of smart glass in aviation sector has also led to an increased in its global market. Apart from this smart glass is also used in power generation in the form of solar power generation.
Geographically the market is segmented into seven different regions: North America, Europe, Asia Pacific (excluding Japan), Japan, Europe, LAME and Africa. North America accounts for the largest market both in production and consumption as the utilisation of suspended particle devices is increasing in these countries. But owing to the architectural advancements in Europe i.e. presence of large windows in commercial as well as residential complexes, efficiency in government policies and updated building construction Europe is expected to overtake the North American market in the future. The Asian market is also expected to grow. However, in 2015 Germany accounted for largest market share of smart glass.
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The key players who are driving the market of smart glass and determine its future are: Vision Systems, PPG Industries Inc., Research Frontiers Inc., Corning, INC., Pleotint LLC, Hitachi Chemical Co. Ltd. And Smart Glass International Saint-Gobain, Ravenbrick, Sage Electronics, Asahi Glass Company Ltd., DuPont, Active Glass Technologies, View Inc., Gentex Corporation. These key players are collaborating with material science and chemical companies, flat glass producers and Integrated Glass Unit(IGU) manufacturers.
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