The global smart glass market share analysis and size is anticipated to reach USD 15.02 billion by 2026, owing to the rise in the use of smart glass for different applications such as aerospace, marine, architectural, and automotive. Smart glass or switchable glass is glazing or a glass with altered transmission properties as and when heat, light, or voltage is applied. They are capable of changing their appearance from opaque to translucent to transparent as per the needs of the user and help to maintain factors such as natural daylight, sound, temperature, and solar head absorbed by buildings. Smart glass is utilized mainly in commercial buildings where it is essential to control the operative environment.
List of Significant Manufacturers in Smart Glass Market are;
Gauzy Ltd and Entities
Central Glass Co., Ltd.
Essex Safety Glass
Asahi India Glass Ltd.
Asahi Glass Co., Ltd.
SPD Control Systems Corporation
Smartglass International Limited
Highlights of the Report
The report offers a comprehensive overview of the market and its prime growth trajectories including growth restraints, drivers, challenges and upcoming opportunities. The report discusses the market segmentation based on factors such as technology, application, and geographies. It also discloses the names of the leading segments and their market figures. Besides this, the report throws light on major industry developments, current smart glass market trends, and other interesting insights into the market. Significant players operating in the market are listed in the report with the major strategies adopted by them to gain a competitive edge in the market. The report is available for sale on the company website.
Increasing Demand from Healthcare Industry will Drive Market
Major factors responsible for the smart glass market growth includes the rising demand from architectural, transportation, and automotive applications. Additionally, the rise in environmental concerns, coupled with the rising number of smart and green buildings and are propelling the need for electrochromic windows in residential, commercial, as well as industrial buildings, thereby boosting the market.
However, high cost of material, installations, and electricity costs and functional features such as speed control, transparency degree, and dimming possibilities may pose a major challenge to the market. Nevertheless, a lead analyst at Fortune Business Insights say, “the healthcare industry uses smart glass for maintaining privacy and this reduced the use of curtains and blinds in operating rooms. Therefore, the increasing demand from healthcare industry will aid in expansion of the market in the forecast period.”
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Europe Dominating Market with Germany as the Leading Nation
Geographically, North America generate a revenue of USD 1.31 billion in 2018 but Europe held the largest smart glass market share with Germany. This is owing to the increasing demand from the automotive and transportation sector, coupled with increasing utilization in architectural applications. In North America, the U.S. is the largest contributor of the market attributed to the increasing number of end-use industries namely consumer electronics, and healthcare.
On the other side, the market in Asia Pacific will witness steady growth with China leading the region, on account of the booming construction and automotive industries. Besides this, growing urbanization and rapid urbanization in developing nations such as India and China are anticipated to increase the need for smart glasses for various institutes, hospitals, commercial and residential buildings.