Kenneth Research, in its repository of market research reports, have recently added a report on Smart Card Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Smart Glass Market products.
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By the end of 2050, the world’s population aged 60 years and above is anticipated to reach 2 billion, states the World Health Organization (WHO), in one of its statistics. Additionally, several manufacturers are increasingly showing interest for manufacturing healthy beverages, which is also anticipated to drive the growth of the market in the coming years.
Global Smart Glass Market was valued at USD 3.04 Billion in the year 2017. Global Smart Glass Market is further estimated to grow at a CAGR of 17.33% from 2018 to 2023 to reach USD 10.95 Billion. North America region holds the highest Market share in 2016 and European Market is considered as the fastest growing Market in the forecasted period. At a country level, developed Market like the U.S. as well emerging Market with highest population base holds the notable Market share in 2017 and it is projected to grow at a gradual rate in the coming years.
The major Market players in Smart Glass Market are ChromoGenics AB, DuPont, Asahi Glass Co. Ltd., Corning Incorporated, Gentex Corporation, Hitachi Chemical Co. Ltd., Research Frontiers, View Inc. and other 13 companies information is provided in research report). DuPont holding the substantial Market share because of its better global presence both at production and at an operational level. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
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Between Transportation, Commercial, Architectural, Power Generation, Transportation segment because of the growing popularity and availability is expected to hold the highest Market share during the forecast period.
Global Smart Glass Market Overview
By Technology Protocol
Active Glass
Passive Glass
By Application
Transportation
Commercial
Architectural
Power Generation
By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
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