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Latest market study on “Smart Glass Market to 2027 by Technology (Electrochromic, Polymer Dispersed Liquid Crystal (PDLC), Suspended Particle Device (SPD), Thermochromic, Photochromic, and Others); Application (Commercial, Residential, Power Generation, Transportation, Automotive, Aerospace & Defense, and Others) – Global Analysis and Forecast”, The Smart Glass Market is estimated to reach US$ 11.73 Bn by 2027 from US$ 2.85 Bn in 2018. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.
The construction industry is expanding at a steady growth rate in the developed regions across the globe. While on the other hand, in the developing regions, the industry is experiencing a substantial growth rate. Investments in infrastructure construction industry is continuously growing across the globe. The major focus of investments is on the residential sectors as the global population is constantly increasing at an exponential rate, which is demanding more residential spaces. The number of new residential buildings or individual houses rose rapidly over the years in the developed as well as developing nations worldwide. The US infrastructure industry is set to continue relatively fair growth rate during the forecast period which is heavily supported by residential constructions. Similarly, Canada’s New Canada Building Plan is supporting the construction industry in the country and the same is expected to drive the industry in the coming years. The growing investments and initiatives in the residential and commercial construction in North American countries is influencing the glass manufacturers to increase their production. This factor is boosting the market demand for smart glass in the North American residential as well as commercial constructions. Construction in European countries is also increasing slowly, demanding improved building materials. European countries namely; Spain, Italy, and Turkey are experiencing demand for increased number of residential sectors as well as commercial spaces, thereby, catalyzing the demand for smart glass. The increased demand from the builders in the countries is propelling the production lines of glass windows and doors year on year in these countries, thereby, substantially driving the market.
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Smart glass is a vital component of the building that enable in meeting the energy efficiency and interior comfort requirements of any infrastructure. As per recent studies, it has been estimated that the energy consumptions from a building amount to a quarter of the total energy consumptions globally. In the wake of rising urbanization and industrialization, it has become imminent to find energy efficient solutions to achieve sustainability for the future generations. Also, buildings constructed in the Mediterranean climate in countries such as Spain witness winter energy losses owing to low temperatures. Smart buildings have been a subject of focus by various industry experts and therefore, building components such as smart glass become a vital component in the entire smart building ecosystem. Besides, these glasses also foresee a decent growth application in automotive and other transportation sector.
Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Smart Glass Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of Covid -19 Situation.
Smart Glass Market Forecast to 2028 – Latest COVID-19 Analysis at https://www.theinsightpartners.com/covid-analysis-sample/TIPTE100000343
Rising Commercial and Residential Construction
The construction industry is expanding at a steady growth rate in the developed regions across the globe. While on the other hand, in the developing regions, the industry is experiencing a substantial growth rate. Investments in infrastructure construction industry is continuously growing across the globe. The major focus of investments is on the residential sectors as the global population is constantly increasing at an exponential rate, which is demanding more residential spaces. The number of new residential buildings or individual houses rose rapidly over the years in the developed as well as developing nations worldwide. The US infrastructure industry is set to continue relatively fair growth rate during the forecast period which is heavily supported by residential constructions. Similarly, Canada’s New Canada Building Plan is supporting the construction industry in the country and the same is expected to drive the industry in the coming years.
The growing investments and initiatives in the residential and commercial construction in North American countries is influencing the glass manufacturers to increase their production. This factor is boosting the market demand for smart glass in the North American residential as well as commercial constructions. Construction in European countries is also increasing slowly, demanding improved building materials. European countries namely; Spain, Italy, and Turkey are experiencing demand for increased number of residential sectors as well as commercial spaces, thereby, catalyzing the demand for smart glass. The increased demand from the builders in the countries is propelling the production lines of glass windows and doors year on year in these countries, thereby, substantially driving the market.
The List of Companies – Smart Glass Market
The major companies offering smart glass market include AGC, INC., ArtRatio S.L., Compagnie de Saint-Gobain S.A., Corning Incorporated, GENTEX Corporation, Hitachi Chemical Co., Ltd., Pleotint LLC, Polytronix, Inc., Research Frontiers Incorporated, and Smartglass International Limited among others. Several other companies are also offering these smart glasses for various end-uses which is facilitating the market to propel over the years.
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The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
2019: Research Frontiers Inc. (Nasdaq: REFR) and Vision Systems launched a development program together to produce SPD-Smart light-control film used in Vision Systems’ electronically dimmable windows (EDWs). The performance and reliability of these Vision Systems’ products surpass all other products on the market, including “electrochromic” EDWs.
2018: Hitachi Chemical unveiled its plan to develop new light integrators for smaller smart glass. The company is looking for enhancing its offerings in optical plastics for smart glass by coming out with new optical integrators. Hitachi’s new product possesses the same light efficiency provided by a dichroic mirror and even in strong external light outdoors achieves high visibility. Moreover, the company sees the innovative technology as a substitute for the configuration of existing smart glass.
2017: AGC Asahi Glass, a world-leading manufacturer of glass, chemicals, and high-tech materials, and Kinestral Technologies, maker of Halio smart-tinting glass, today announced the creation of three joint venture companies that will sell, distribute, and service Halio to the global market. Formed to accelerate the adoption of Halio, the new ventures – Halio North America, Halio International, and Halio China – will be the exclusive sales and marketing agents for Halio smart-tinting glass in the commercial and residential housing industries.
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