The major factor fuelling the growth of global smart glass and window market is increasing demand for energy efficient products in construction sector. Moreover, smart windows ensure fuel efficiency and passenger comfort and are widely utilized in automotive, aircraft and marine among others.
Albany, NY -- (SBWIRE) -- 01/05/2016 -- Smart glass and window is made up of special glass which changes light transmittance properties across a spectrum. The characteristics of these glasses can be varied depending on the ambient conditions with the help of heat voltage or light applied as per needs of the occupants. With increasing technological advancement, these glasses ensure user comfort, energy effectiveness, proper fuel consumption and blockage of harmful radiation among others. The smart glass and window market is composed of two technology types which include active and passive. The active segment is further subdivided into polymer dispersed liquid crystals (PDLC), suspended particle device (SPD), electrochromic and others. Moreover, the passive segment is classified into passive photochromic and passive thermochromic. Active smart glass and window market held the largest market share in 2014, owing to dynamic light transmission adjustment property using a single switch. By application, the smart glass and window market is segmented into automotive, aircraft, construction and marine. The automotive sector accounted for the largest market share in 2014, primarily due to increasing demand for eco friendly solutions, fuel efficacy and passenger safety among others. The market is classified into four geographic regions - North America, Europe, Asia Pacific, and Rest of the World.
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The smart glass and window market is primarily driven by growing surge for efficient consumption of energy in buildings. Smart glasses reduce costs for air conditioning, lighting and heating among others and also block UV light. Moreover, these glasses are fuel efficient and have low carbon emissivity and hence are largely incorporated in personal vehicles. Furthermore, increasing demand from developing countries and new technological advancement are likely to create growth opportunity for the global smart glass and window market in the future. However, prices of smart glasses are approximately double as compared to conventional glasses. Hence the use of smart windows is mostly limited to rich commercial and corporate buildings. With decrease in price of electrochromic materials used in smart windows, the costs of these glasses are expected to drop down in the future. Considering all the prevailing trends, the smart glass and window market is expected to experience robust growth throughout the forecast period from 2015 to 2021.
North America dominated the global smart glass and window market in 2014 in terms of value. Supportive government mandates for energy conservation along with immense development of technology are primarily driving the growth of market in North America. Europe held the second largest share of the global market in terms of value in 2014. In addition, Asia Pacific and rest of the world region are also having huge growth potential for smart glass and window market. Larger addressable market as a result of emerging middle class population in developing countries such as China, India and Brazil among others is one of the major reasons responsible for the growth of smart glasses in these regions.
The research report on the global smart glass and window market offers detailed analysis of global smart glass and window technologies and helps to understand the driving forces behind the popularity of this market. Detailed analysis of major segments and sub-segments of the global smart glass and window market are provided for the next six years. Moreover, the report includes exhaustive analysis of the drivers, restraints, market trends and future outlook of the industry. The strategies and imperatives of stakeholders for succeeding in the business have been comprehensively assessed in the report. The market has been segmented on the basis of technology, application and geography.
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Some of the major players in the 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).
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