Dublin, Nov. 17, 2020 (GLOBE NEWSWIRE) -- The "Smart Glass Market with COVID-19 Impact by Technology (Suspended Particle Display, Electrochromic, Liquid Crystal), Application (Architecture, Transportation, Consumer Electronics), and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Smart Glass Market Size is Expected to Grow from USD 3.8 Billion in 2020 to USD 6.8 Billion by 2025, at a CAGR of 12.1% during the Forecast Period.
The smart glass market is expected to grow at significant CAGR during the forecast period.
The growth of the smart glass industry is driven by factors, such as the growing adoption of smart glass in an automotive application and, declining prices for electrochromic material.
Other major driving factors for smart glass adoption include supportive government mandates and legislation on energy efficiency. Governing bodies of various countries are increasingly encouraging the use of these energy-efficient products. Smart glass has inherent energy-saving and auto-dimming properties, which reduce its maintenance cost. As a result, the perceived benefits of these glass products are more than the incurred investments.
Electrochromic technology is likely to hold the largest share of the smart glass market in 2020.
The electrochromic smart glass technology dominated the smart glass market. The electrochromic technology has long been used in rearview mirrors across the automotive sector. With the recent advancements, it has also found applications in switchable windows, sunroofs, and so on.
Though the electrochromic smart window technology is not used much in the architecture or building applications, it is expected to revolutionize the architecture sector in the coming years, accounting for a major share of the market by 2025. Commercial buildings (corporate and government) are expected to be early adopters of the electrochromic technology.
Transportation application is expected to account for the largest market share in 2020.
The transportation application accounted for the largest share of the smart glass market in 2020 as many automobile manufacturers have been incorporating smart glass materials in their vehicle designs to benefit from its antiglare property, remote access capacity, and dynamic light emission adjustment properties. In transportation, another major application area for smart glass are in the form of doors, windows, sunroofs, windshields, rearview mirrors, and skylights. Smart glasses help minimize heat generation, provide shading, limit the viewing scope, and offer privacy to users.
The UK considered major markets for smart glass
The UK is expected to lead the overall smart glass market in the coming years. Technological advancements and a recovering economy act as driving factors during the growth period. Rapidly increasing energy cost is likely to trigger the demand for energy-efficient products.
The ability of smart glass to reduce the overall energy consumption of a building while offering attractive features such as on-demand privacy or glare-control is expected to multiply its applications. In extreme weather conditions prevalent in several areas of Europe, smart glass offers a suitable solution for maintaining the internal temperature of buildings or vehicles, thus saving the overall energy costs.
Growing Demand for Smart Glass in Automobile Applications
Declining Prices of Electrochromic Materials
Strong Government Support Through Mandates and Legislations for Energy-Efficient Construction
Optimal Energy Saving Through Smart Glass Applications
Higher Cost of Smart Glass
Technical Issues Related to Performance of Smart Glass
High Potential in Solar Power Generation Plants
Tapping Potential Avenues
Emerging Eco-Friendly Buildings
Increasing Demand for Energy-Efficient Products
High Initial Cost for R&D and Manufacturing
Lack of Awareness of Long-Term Benefits of Smart Glass
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Smart Glass Market, Industry Trends
7 Smart Glass Market, by Technology
8 Smart Glass Market, by Application
9 Smart Glass Market, by Control Mode
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
12.1 Key Players
12.1.2 Research Frontiers
12.1.3 View, Inc.
12.1.4 AGC Inc.
12.1.7 Hitachi Chemical
12.1.8 NSG Group
12.1.9 Glass Apps
12.1.11 Smartglass International
12.2 Other Key Companies
12.2.3 PGW Auto Glass
12.2.4 AGP America
12.2.5 SPD Control Systems
12.2.7 Xinyi Glass
12.2.8 Taiwanglass Group
12.2.9 Fuyao Glass
12.2.10 Central Glass
12.2.11 Innovative Glass Corp.
12.3 Key Innovators
12.3.1 Active Glass Technologies
12.3.2 Kinestral Technologies
12.3.3 Chromogenics Ab
12.3.4 Gauzy Ltd
12.3.5 Click Materials
For more information about this report visit https://www.researchandmarkets.com/r/kdg2g8
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