Smart Glass Market - Global Industry Analysis Size Share Growth Trends and Forecast 2016 - 2024
The
global smart glass market is witnessing a healthy growth and steady
demand owing to the recent shift towards green buildings and sustainable
energy solutions. Developed nations are witnessing a surge in the
demand for smart glass as it helps in saving the energy needed for
lighting, cooling, and heating green buildings. Moreover, governments of
developed nations are also playing a positive role in the growth of
this market by encouraging citizens to shift to green buildings and
reduce energy consumption. All these factors are expected to result in
the smart glass market to expand at a CAGR of 14.50% from 2016 to 2024,
rising from US$2.10 bn in 2015 to US$7.04 bn by 2024, according to
Transparency Market Research (TMR)
Browse Market Research Report @
Given below are some of the important questions related to the smart glass market, which are answered by TMR analysts:
What are the factors boosting the global smart glass market?
Smart
glasses are used in the mirrors of automobiles such as sun visors, side
and rear windows, and sun roofs of high end premium cars, and this is
creating a heightened demand for these glasses from the automobile
industry. As the automobile industry has been thriving from quite some
years now, the demand for smart glass from this sector is also be on the
rise. The demand for smart glass is also high from the aviation sector
and thus, the transportation sector is one of the key reasons behind the
growth of this market. Smart glass is also used in consumer electronics
and for solar power generation. Since solar power generation has become
popular as an alternative source of clean power generation, the demand
for solar heaters, and thus, the need for smart glass is expected to
arise.
Which region is expected to be a key market for smart glass in the coming years?
North
America is expected to hold dominant shares of the market in the coming
years, after being the leader in 2015, accounting for 30% of the
market. The growing focus on renewable energy sources is anticipated to
encourage the use of solar energy and this in turn will continue to
drive the North American smart glass market. Moreover, Asia Pacific is
witnessing a considerable growth in the market. The flourishing consumer
electronics, housing and construction, and transportation sectors are
behind the growth of the smart glass market in Asia Pacific. The region
is also expected to make an increasing use of solar panels, which will
further drive the market. It is likely that Asia Pacific will exhibit
the most promising growth in the coming years.
What are the recent developments by companies operating in the smart glass market?
Asahi
glass, a Japanese company has come up with a product called temperlite,
which is used in solar water heater covers, lighting devices, and road
display boards. The product has immense wind pressure strength and when
broken, will result in granular pieces, as opposed to sharp shards.
Fill the form for an exclusive sample of this report @
Another
company called Smart Glass International, has developed switchable
security glass, which has the capacity to withstand high impact,
including penetration by sharp objects. Such developments are expected
to boost the market and ensure its continued growth.
Comments
Post a Comment