ALBANY, New York, March 21, 2017 /PRNewswire/ --
Transparency Market Research has published a new market report titled "Smart Glass Market - Global Industry Analysis Size Share Growth Trends and Forecast 2016-2024". According to the report, the smart glass market was valued at US$ 2.10 Bn in 2015 and is anticipated to reach US$ 7.04 Bn by 2024, expanding at a CAGR of 14.5% between 2016 and 2024.
Smart glass is an electronically tintable glass that changes the tint of any sunroof, window or skylight. The process involves aligning tiny particles electrically in a thin film within the glass or plastic. Smart glass adapts to climatic conditions when installed in buildings. Blackout smart glass can also block ultraviolet radiations in buildings. Smart glass are typically classified into two types namely: active smart glass and passive smart glass. On basis on technology, smart glass market can be segmented into electrochromic, liquid crystal, photochromic, suspended particle devices, and thermochromic.
End-use for smart glass market can be divided into sectors such as architectural, consumer electronics, transportation, and solar power generation. In 2015, transportation sector accounted for significant market share for smart glass market. The increasing demand for smart glass in sunroofs, sun visors, rear & side windows in high end premium cars, aviation sector, etc. is expected to boost the growth of smart glass market for the forecast period. The booming transportation sector in the developing countries is expected to boost the demand for smart glass market in the forecast period especially in the Asia Pacific region. Architectural sector also accounted for a considerable market share for the Smart glass market in 2015.
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The growing demand for daylight harvesting, green building and automated building systems to more effectively capture and control day light is expected contributing to boost the demand for smart glass market during the forecast period. Consumer electronics and solar power generation sectors are other considerable end-use sectors of the smart glass market. The consumer electronics segment is anticipated to expand rapidly during the forecast period due to the growing demand of smart glass in electronic appliances. Solar power generation is a major end-use application of smart glass is in solar panels due to anti-reflective and self-cleaning properties. The significant development of the solar industry has triggered the demand for solar panels which in turn is subjected to boost the demand for smart glass during the forecast period.
Globally North America accounts for the significant market share in the global market followed by Europe and Asia Pacific. The growing demand for smart glass in various developing end-use sectors such as transportation, building & construction, and electrical & electronics sector is expected to drive the smart glass market in the Asia Pacific region during the forecast period. The smart glass market in Middle East & Africa is estimated to offer moderate growth opportunities due to rising preference of consumers to renewable energy sources.
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Major players operating in the smart glass market include Asahi Glass Corporation, DuPont, Research Frontiers, Saint-Gobain Group, and Smart glass International Limited.
This report segments the global smart glass market as follows:
- Smart Glass Market - Technology Type Analysis
Suspended Particle Device
- Smart Glass Market - End-use Analysis
Solar Power Generation
- Smart Glass Market - Regional Analysis
- North America
Rest of Europe
- Asia Pacific
Japan & Korea
Rest of Asia Pacific
- Latin America
Rest of Latin America
- Middle East & Africa (MEA)
Rest of MEA
- North America
Browse Other Related Market Research Reports:
- Electrochromic Glass Market: http://www.transparencymarketresearch.com/electrochromic-glass-market.html
- Paper Fiber Market: http://www.transparencymarketresearch.com/paper-fiber-market.html
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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