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, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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