The Global Smart Glass Market is expected to reach USD
4.71 billion by 2022, according to a new study by Grand View Research, Inc. The
construction industry has emerged as a key end-use area. Adoption in
architectural applications is steadily increasing in both new-construction as
well as in the replacement sector owing to several benefits such as natural
insulation, environmental protection, safety, and security. The shift toward
replacing cement, brick, and granite with glass is expected to benefit smart
glass market growth.
Residential and automotive
segments have witnessed a dynamic phase change in functionalities from legacy
weather protection features to advanced energy conserving and seclusion
apparatus. Sophisticated interfaces have been developed, which consider the
entire range of PDLC in fabrication of contemporary tech gadgets.
Lack of awareness among
consumer about the functionality and benefits of this product may hamper smart
glass market growth. Extensive marketing endeavors by a select geographical
roll-out scheme are expected to augment the sales by consumer awareness.
Increased deployment and further recognition by word-of-mouth publicity would
reduce the encumbrance caused by lack of awareness.
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Further key findings
from the study suggest:
·
SPD smart glass
is widely deployed in the automotive sector due to their dynamic applicability
in numerous areas such as rear-view mirrors, window panes, and in sun-roofs.
Premium car manufacturers have already deployed SPD glasses in their select models
thereby helping the glass fabricators to regain their ROI at an elevated pace.
SPD films can be incorporated into a variety of products, resulting in dynamic
applicability. Liquid crystal technology growth can be attributed to
operational feasibility offering fast response time and optical translucence
property.
·
Key application
areas include defense & aerospace sector clients along with premium
automobile manufacturers and construction firms. Another distribution approach
comprises sophisticated technology vendors such as digital eye glasses
fabricators. This product serves as a basic raw material in fabrication of
digital eye glasses which are foreseen to revolutionize the market over the
forecast, thereby driving demand.
·
North America
accounted for over 30% of the global demand in 2014. Smart glass mandates have
been established by the European Union and other regional administrative bodies
to monitor energy efficiency along with administering the levels of glass
tinting & transparency quotient.
·
Leading players
are involved in mass production, while new participants find it difficult to
incorporate mass production strategies due to inadequate number of orders by
associated patrons, thereby reducing their break-even point (BEP) revenue.
Consequently, the smart glass market is projected to be dominated by few
leading manufacturers, creating an oligopolistic scenario. Key industry players
include DuPont, Sage Electrochromics, Corning, Asahi, etc.
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About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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