Smart Glass Market Report 2020-2026 by Technology [Active (Electrochromic, SPD, PDLC), [Passive (Photochromic, Thermochromic)] and By Application (Construction, Transportation, Electronics)

Ocean View, DE -- (SBWire) -- 04/09/2020 --The Smart Glass Market size was estimated at USD 1,160.32 million in 2017 and is projected to surpass USD 2,200 million by the year 2026.

Windows serve as an integral part of high-rise buildings. Moreover, these essential building structures play a major role in enhancing the energy efficiency as they are capable of transferring heat through glass while having a significant impact on the cooling and heating costs.

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As per the estimates by the United States Department of Energy, implementation of inefficient windows in the building structure results in nearly 25% to 35% of energy wastage. The need for a technology that withhold the energy loss and reduce the consumption without causing hinderance to the window aesthetics and design has thus become apparent, increasing the demand for smart glass.

Growth Drivers of Smart Glass Market are

- Strong building & construction outlook
- Rising penetration in the transportation sector
- Increasing product demand in the electronics & electrical industry

Need for energy saving and energy efficient windows to drive the adoption of smart glass

The advent of smart glass has enabled architects to save enormous amounts of energy without even giving up on the design. Additionally, as the building codes around the U.S enunciate demands for greener designs, smart glass windows have become less of niche market technology and more of product alluring to vivid customers within the construction sector.

That said, windows made with smart glass carry a potential to bring about a revolution in the energy space for today's biggest buildings. Numerous reports cite that smart glass windows are over 70% more effective during summer and 45% in winter, thereby reducing the median energy spending by approximately 25%.

The dominance of smart glass is also evident from its abundant use in the entertainment sector. The first ever depiction of smart glass in movies was in the 1982 film, Blade Runner. After this, the product has found use in umpteen Hollywood hits like Iron Man, Captain America, James Bond's Skyfall, and various other Sci-Fi or other genre movies, only enhancing its widespread popularity and application portfolio.

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High production cost to impede the growth of smart glass market

With over expanding positives, there are some negatives which could temporarily or at a higher scale impede the growth statistics of smart glass market. One of the biggest hinderances in the growth path is the high production cost associated with the smart glass. Apparently, this is a result of the overwhelming cost of raw material and even limited feasibility that is possibly constraining its penetration worldwide.

However, constant innovations and developments taking place across the market in terms of raw material, product implementation, and work capacity, would stimulate the growth prospects, attracting a new band of users and customers, while establishing new growth avenues for the manufacturers worldwide.

All in all, the smart glass market holds an exceptional future scope. It is used to increase the energy efficiency and saving while reducing its consumption across the commercial spaces and other domains. In the upcoming years, the world can witness unending possibilities and uses of smart glass including integration with other electrical systems, photovoltaic smart glass, and several others.

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Prominent Players of smart glass market are –

Saint Gobain, NSG group, Asahi glass, Merck & Co., View Inc, RavenWindow, Smartglass International, Gauzy, Polytronix, Pleotint LLC