Global Smart Glass Market Size and Growth 2021, CAGR Value, Key Players with Share and Revenue, Industry Trends, Business Strategies and Challenges Till 2030
(MENAFN – America News Hour) In a recently released report, the global smart glass market report for till 2030. The report discusses in more detail now; the different strategies to be adopted or being adopted by economic actors around the world at different levels of the value chain. Given the global economic downturn, we further estimate that China, India, Japan and South Korea are recovering the fastest among all countries in the Asian market. Germany, France, Italy and Spain will be the hardest hit and this blow is expected to be regained 25% by the end of 2021 – Positive growth in economic demand and supply
The US market is recovering rapidly; In a May 4, 2021 press release, the US Bureau and Economic Analysis and the US Census Bureau mention the recovery of US international trade in March 2021. The country’s exports reached $ 200 billion, up $ 12.4 billion in February 2021. In trend, imports totaled $ 274.5 billion, increased by $ 16.4 billion in February 2021. However, as COVID19 still haunts economies around the world, exports averaged year over year Other in the United States declined by $ 7.0 billion from March 2020 to March 2021 while imports increased by $ 20.7 billion during the same period. This clearly shows how the market is trying to recover and it will have a direct impact on the healthcare / ICT / chemical industries, creating a huge demand for Global smart glass market some products.
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In addition, the increase in ICT spending around the world for hardware, software, services, new technologies and telecommunications, among others, is also expected to contribute to the growth of the market in the coming years. Expenditure on new technologies was approximately USD 0.6 million in 2018 and is further expected to reach nearly USD 1.3 million by 2023. Total ICT expenditure globally has further recorded nearly $ 5 million in 2019 and is expected to reach another $ 6. million by 2023.
Smart glass (also known as smart window or switchable glass) is a pioneering technology that uses electrochromism to allow your windows to change color automatically when an electrical voltage is applied between them. This automatically regulates the heat and light in the room according to the conditions of the day and saves energy.
The global smart glass market is divided based on the following technology: electrochromic, photochromic, thermochromic, micro, liquid crystal dispersed in polymer, and suspended particles. By creating climate-appropriate building envelopes, they help reduce energy costs for heating, cooling and lighting. Critical aspects of smart glass include material costs, electricity costs and durability, installation costs as well as functional characteristics such as control speed, degree of transparency and dimming possibilities.
Since then, the number of end users of this technology has steadily increased and the industries using this technology have also grown. The end-users of the global market include: architecture (for residential and commercial complexes), automotive which is the main end-user of smart glass, users of solar power generation which are expected to drive the market in the future after the automobile, sunglasses and museums.
Energy efficiency, ease of use and reduced carbon emissions are some of the many benefits of smart glass. These benefits have led to increased use of these glasses in personal vehicles and homes. The smart glass market is expected to increase in the near future and the factors driving this growth are:
1. Growing use of green initiatives and awareness of energy consumption
2. Use of environmentally friendly vehicles and buildings
3. Non-electrical technologies such as thermochromy
4. Government support and initiatives to encourage the use of smart glass
Factors restraining the growth of the smart glass market include:
1. High cost compared to its other alternatives
2. Slow response in case of large smart glass
3. Concern about maintaining exact color balance
4. Lack of knowledge of its use and benefits
In the near future, the global smart glass market is expected to witness commercialization, it will be in terms of improved operation and profitability, and a wide range of applications and incorporation of advanced materials.
The smart market is segmented into two main verticals: technology and end user applications. On the basis of technology, the market is further segmented into thermochromic devices, electrochromic devices, suspended particle devices, micro-blinds, and liquid crystal devices. While LCD technology is primarily used in electronic devices, suspended particles and electrochromes are used in automotive and architectural applications. Power generation uses the remaining three technologies.
Based on end user applications, the transportation and architecture industry dominates the smart glass market. In the transportation industry, smart glass is used in automobiles, airplanes, cars, buses, and navies. Smart glass is used in sun shades, sunroofs, side and rear windows of premium premium cars. Smart glass controls heat and light. For this reason, there is an increased use of smart glass in architectural projects where they are used as windows, doors, partitions and skylights. The use of smart glass in the aviation industry has also led to an increase in its global market. Apart from this smart glass, it is also used in the production of electricity in the form of solar power generation.
Geographically, the market is segmented into seven different regions: North America, Europe, Asia-Pacific (excluding Japan), Japan, Europe, LAME and Africa. North America represents the largest market both in terms of production and consumption, as the use of particulate matter devices increases in these countries. But due to architectural progress in Europe, i.e. the presence of large windows in commercial and residential complexes, the effectiveness of government policies and the updating of building construction, Europe is expected to overtake the North American market in the future. The Asian market is also expected to grow. However, in 2015, Germany held the largest smart glass market share.
The major players driving the smart glass market and determining its future are: Vision Systems, PPG Industries Inc., Research Frontiers Inc., Corning, INC., Pleotint LLC, Hitachi Chemical Co. Ltd. and Smart Glass International Saint-Gobain, Ravenbrick, Sage Electronics, Asahi Glass Company Ltd., DuPont, Active Glass Technologies, View Inc., Gentex Corporation. These key players collaborate with materials and chemical science companies, flat glass producers and manufacturers of integrated glass units (IGUs).
Highlights of the report
Report Content Regional Analysis Report Highlights
Global market segments
Global Market Drivers, Constraints and Opportunities
Global market size and forecast 2016 to 2022
Supply and demand value chain
Global Market – Current Trends
Competition & Large Companies
State of technology and R&D
Porters Five Forces Analysis
Strategic and critical analysis of the key players’ success factors
United States and Canada
Mexico, Brazil, Argentina and the rest of Latin America
EU5 (Germany, France, Italy, Spain, United Kingdom)
Nordic countries (Denmark, Finland, Norway and Sweden)
Benelux (Belgium, Netherlands and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia-Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, United Arab Emirates and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of key inputs from industry experts and participants across the supply chain. It provides market segmentation details that are derived from several exercises in product mapping, macroeconomic parameters, and other qualitative and quantitative information. The impact of all these factors is felt in several market segments and geographies.
Detailed historical overview (market origin, product launch schedule, etc.)
Consumer and price analysis
Industry market dynamics
Estimated market size in terms of volume and value
Recent market trends and impact
State of research and technology overview
Extensive coverage of industry structure
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