DUBLIN, October 11, 2017 /PRNewswire/ --
The "Smart Glass Market by Technology (Suspended Particle Display, Electrochromic, Liquid Crystal, Photochromic, Thermochromic), Application (Architecture, Transportation, Consumer Electronics), and Geography - Global Forecast to 2023" report has been added to Research and Markets' offering.
The global smart glass market is expected to reach USD 8.35 Billion by 2023 from USD 3.32 Billion by 2017, at a CAGR of 16.61% between 2017 and 2023.
Some of the key factors driving the growth of this market are the growing demand for smart glass in automobile applications, strong government support through mandates and legislations for energy-efficient construction, and optimal energy saving through smart glass applications.
Governments and the policymakers across the world have started framing policies, legislations, and laws to increase the energy-efficiency of buildings. This will further drive the adoption of smart glass-enabled energy-efficient products in residential and commercial building construction, and in the transport sector, despite the higher cost of these glasses than the normal (flat) glass.
The smart glass market based on technology has been segmented into suspended particle display (SPD), electrochromic, liquid crystal (LC), micro-blinds, photochromic, and thermochromic technologies. The smart glass market for SPD is expected to grow at the highest CAGR between 2017 and 2023.
A higher cost of smart glass is the major factor restraining the growth of the market. The smart glass industry has undergone many changes and advancements in terms of the technologies and applications. The cost of smart glass is higher than that of conventional windows and glass despite the significant technological advancement.
The high cost of these glasses inhibits its large-scale adoption. Manufacturers find it difficult to quantify the return on investment to end users and, hence, its application has been mainly across the high-end and luxury verticals. However, with the opening of large-volume manufacturing facilities, the manufacturers are expected to achieve economy of scale, which, in turn, will lower the cost. With the increasing volume of production, the cost of smart glass is estimated to reduce by 30%-40%.
The key players in the market include SAGE Electrochromics, Research Frontiers, View, Inc., Asahi Glass Co., Gentex, Hitachi Chemical, Glass Apps, Pleotint, Polytronix, RavenWindow, Scienstry, Smartglass International, and SPD Control Systems.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Smart Glass Market, By Application
7 Smart Glass Market, By Technology
8 Geographic Analysis
9 Competitive Landscape
10 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/59h9ms/smart_glass
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