ALBANY, New York, November 16, 2015 /PRNewswire/ --
According to a new market report published by Transparency Market Research "Smart Glass and Window Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021" smart glass and window market was valued at US$2.2 bn in 2014 and is expected to exceed US$6 bn by 2021, at a CAGR of 14.7%, from 2015 to 2021.
Increasing demand for efficient utilization of energy among building managers, owners and construction companies is primarily fueling the smart glass and window market globally. Moreover, rapid demand for smart glasses in automobile sector has significantly resulted in production of fuel efficient smart glasses with low carbon emissivity. Nowadays, due to its special features such as the ability of blocking UV light and fast switching capability, these glasses are preferred over normal glasses. In addition, smart window reduces heat formation within vehicles and ensures passenger safety. Considering all these factors the market for smart glass and window is expected to witness robust growth during the forecast period.
Full Research Report on Global Smart Glass and Window Market with detailed figures and segmentation at: http://www.transparencymarketresearch.com/smart-glass-window-market.html
Smart windows are dynamic and are emerging as the future technology. Key players are constantly involved in expansion of smart glasses in new and existing application areas, such as power generation, construction and automotive among others. Hence, there is significant opportunity for the smart glass and window market worldwide. Moreover, developing countries like India and China have huge number of population and thus require efficient technologies to reduce and conserve their energy needs, which in turn will augment the growth of smart glass and window market in the future. However, high price of smart glasses is a significant concern for end users and is restraining the growth of the market.
By technology, the market has been segmented broadly into: active and passive. Active smart glass and window held the largest share of the market globally in 2014 and accounted for more than 80%. These glasses are easy to operate and can change light transmission properties with the help of a single switch. Thus, they found huge application in construction and transportation sectors. The active segment has been further divided into polymer dispersed liquid crystals (PDLC), suspended particle device (SPD), electrochromic and others. The suspended particle device segment contributed to the largest share of the active smart glass and window market in 2014, owing to wide application in automobiles and airplanes. The passive segment is further classified into passive photochromic and passive thermochromic. Passive photochromic smart windows provide broader range of dimmability and have potential application in architectural sector. Thus this segment held the largest share of the global market for passive smart glass and window.
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In terms of application, the global market for smart glass and window is further bifurcated into four segments, namely: automotive, aircraft, construction and marine. Automotive sector held the largest share of the market in 2014. Increasing demand for fuel efficiency, better adaptability and control of light along with passenger privacy and protection from radiation are some of the major factors boosting the demand for smart glass and window in automotive sector.
By geography, market is segmented into four regions i.e. North America, Europe, Asia Pacific and Rest of the World (RoW). North America acquired the largest share of the global market in terms of revenue in 2014 and accounted for more than 30% of the overall market. The market in North America is primarily driven by increasing technological development and rising consumer awareness for energy conservation in U.S. and Canada among others. Europe held the second largest market globally and accounted for more than 25%. The market in this region is driven by increasing architectural developments along with existence of large glass formats in Europe.
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Some of the major players in the smart glass and window market are Research Frontiers, Inc.(U.S.), View Inc.(U.S.), Pleotint Llc.(U.S.), Asahi Glass Co., Ltd.(Japan), Compagnie de Saint-Gobain S.A.(France) and Hitachi Chemical Co., Ltd.(Japan). The market is consolidated at present and key players' accounting for more than 80% share in the overall market.
This report provides in-depth analysis of the global smart glass and window market along with the market estimates, in terms of revenue (USD million) for the forecast period from 2015-2021.
The market has been segmented as follows:
Smart glass and window market, by technology: The market is broadly classified on the basis of technology into:
- Polymer Dispersed Liquid Crystals (PDLC)
- Suspended Particle Device (SPD)
- Others (Micro blinds and nano crystals)
- Passive Photochromic
- Passive Thermochromic
Smart glass and window market, by application The market is broadly divided on the basis of application into:
Smart glass and window market, by geography: The market is broadly segmented on the basis of geography into:
- North America
- United States
- United Kingdom
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World (RoW)
- Latin America
- Saudi Arabia
- South Africa
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