Smart Glass Market to Grow at 19.5% CAGR to 2020 Driven by Rising Global Energy Demand
PUNE, India, December 17, 2015 /PRNewswire/ --
Worldwide smart glass market is expected to reach US $5.81 billion by 2020, growing at a CAGR of 19.5% between 2015 and 2020. Optimal energy saving is driving the smart glass market. Robust demand expected for smart glass in premium automotive sector during the forecast period.
Complete report on global smart glass market spread across 211 pages, profiling 12 companies and supported with 82 tables and 66 figures is now available at http://www.rnrmarketresearch.com/global-smart-glass-smart-windows-market-2012-2017-technology-thermochromics-liquid-crystal-lc-suspended-particle-display-spd-electrochromics-ec-photochromic-applications-ar-market-report.html .
Global energy demand continues to grow despite the historical high prices and mounting concerns over the energy security. Improving the energy efficiency of homes, businesses, schools, government buildings, and industries is imperative and inevitable to address the energy supply and demand. Switching to smart windows makes a huge difference in the overall energy consumption. Smart windows are made of smart glass regulate the amount of light passing through them depending on the time of the day. As a result, these windows with smart glass can switch from being translucent to transparent without consuming a large amount of energy.
According to the U.S. Department of Energy, by using smart glass, the energy consumption can be reduced by almost 40%. This energy saving property of the smart glass is a driving force for the smart glass market.
Smart glass is ideal for automobile, aviation, and any other transportation applications where heat and glare control are desired. In the automotive sector, smart glass is used in applications such as rear view mirrors, windows, sun roofs, and windshields. Smart glass provides protection from harmful UV rays, glares protection, and helps to control heat inside the vehicle and saves energy.
Europe is the largest market for smart glass as it is the manufacturing hub for premium automobiles. Manufacturers such as Mercedes, BMW, and Audi have partnered with smart glass licensee-Research Frontiers, Inc. (U.S.)-to use its innovative smart glass for enhancing the performance and aesthetic value of its automobiles.
The APAC region is expected to grow the highest in the automotive application of smart glass during the forecast period. Asahi Glass Company in March 2014 launched its smart window named WONDERLITE being used in Japanese test rail which uses the SPD technology licensed by Research Frontiers Inc. Recently, Ford partnered with Research Frontiers to use its SPD technology for their electronically dimmable sunroofs.
Due to rise in the demand for energy-efficient solutions and emerging green building concept, the smart glass market finds huge opportunity to expand in the next five years.
The various key market players profiled in this research report such as SAGE Electrochromics (U.S.), Research Frontiers, Inc. (U.S.), View, Inc. (U.S.), AGC, Ltd. (Japan), PPG Industries (U.S.), Gentex Corp. (U.S.), Hitachi Chemicals Co. Ltd. (Japan), Glass Apps. (U.S.), Pleotint, LLC (U.S.), RavenBrick LLC (U.S.), Scienstry Inc. (U.S.), SmartGlass International Ltd. (Ireland), SPD Control System Corporation (U.S.). Order a copy of Smart Glass Market by Technology (SPD, Electrochromic, PDLC, Thermochromic), Application (Architecture, Transportation, Solar Power Generation, Electronics & Others), & Geography - Global Trend & Forecast to 2020 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=63974 .
Continuing with the related market, another research on Smart Thermostat Market Forecast to 2020 says, in the coming years the market is expected to grow at a high CAGR of 31.82% between 2015 and 2020. North America held the major share in the smart thermostat market in 2014. However, the European market is expected to grow at the highest CAGR during the forecast period. Nest Labs, Honeywell international, Ecobee, Schneider Electric SE, Emerson Electric Co., Tado, Control4 Corporation, Ingersoll Rand, Carrier Corporation and Nortek, Inc. have been profiled in this 127 pages research available at http://www.rnrmarketresearch.com/smart-thermostat-market-by-component-network-connectivity-wired-wireless-application-residential-office-building-industrial-building-educational-institutional-retail-hospitality-and-healthcare-and-geography-forecast-to-2020-market-report.html .
Explore more reports on Information Technology & Telecommunication market at http://www.rnrmarketresearch.com/reports/information-technology-telecommunication
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