Global Industry Analysis of Smart Glass Market and its trends 2017

Smart Glass Market size is forecast to grow at a high rate from 2016 to 2024. Growing demand for sustainable energy solutions will drive the smart glass market during the forecast period.

Global smart glass market will be driven by rising trend for green and eco-friendly buildings and non-electric technologies. Growing demand for smart glasses in automobile, electronics, aerospace and aviation industries will fuel the markets growth. Government initiatives for energy conservation and the products use in solar power generation is estimated to propel the market during the forecast period.

Global smart glass market will be augmented by an increasing number of air passengers and air cargo deliveries. Over the next 20 years, more than 30,000 new passenger aircrafts at a value exceeding USD 4 trillion will be needed to cope with an estimated 4% growth in air traffic annually.

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In recent years, solar power is being extensively used as an energy source due to increasing focus of countries on using renewable energy sources. Installed capacity for solar power generation worldwide is estimated to be about 65 giga watts in 2015 and will likely rise in the coming years which will drive the global smart glass market. The products use in electronics industry is also expected to grow in the coming years because of the sharp rise in smart devices and electronic gadgets worldwide.

By technology, global smart glass market is segmented into two categories viz. Active glasses and Passive glasses. Active glass initiates change when stimulated with electricity and passive glass is stimulated by heat and UV light sources. The active glass category can be further segmented into – electrochromic glass, suspended particle devices glass, polymer dispersed liquid crystal glass, nanocrystals and micro-blinds.

Global smart glass market may be hampered during the forecast period due factors such as general lack of awareness about the product, higher cost compared to its alternatives and slow response of large sized glasses. The market is expected to witness commercialization in the near future in terms of improved operation and cost efficiency and broader application ranges with incorporation of advanced materials.

Automotive and aerospace industries are one of the major end users of the product and is likely to boost the growth of the global smart glass market. Solar power generation end users will also fuel the market due to the products extensive use in this field. The products use in other end user segments such as museums and sunglasses will also be a crucial factor in its growth.

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By end use applications, global smart glass market is segmented into five categories viz. architecture, transportation, power generation, electronics and others. Architectural end users include both commercial and residential buildings and this segment is expected to drive the market in the future. Transportation segment consists of automotive, aerospace, railways and marine end users.

Key players in the global smart glass market are Saint-Gobain, SmartGlass International, Ravenbrick, Sage Electronics, Hitachi Chemical, Asahi Corporation, DuPont, PPG Industries, Active Glass Technologies, View Inc., Corning, Gentex Corporation and Research Frontiers.

The global smart glass market is divided into five regions viz. North America, Asia pacific, Europe, Middle East & Africa and Latin America. North America dominates the smart glass market with high production as well as consumption closely followed by Europe and Asia Pacific. European market is estimated to grow substantially in the forecast period and may overtake the North American market due to architectural design differences with other regions, for example – larger sized windows in residential and commercial buildings and updated standards of building construction and efficiency. Asia pacific is likely to witness strong growth owing to the booming automobile industry and infrastructural developments in this region.

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About Global Market Insights: Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services.