Market Scenario:
The global Smart Glasses Market Forecast is growing continually, witnessing the growing demand from burgeoning industries, such as construction and automotive. Rapid increase in the demand for value-added materials in housing projects is a key driving force behind the market increase. Besides, growing government programs encouraging the development of green buildings create substantial market demand.
Moreover, increasing applications of smart glass escalate the market growth to furthered height. According to Market Research Future, the global smart glass market valuation is estimated to reach USD 9,083.7 million by 2025, growing continually at a 17.8% CAGR during the assessment period (2019-2025). Besides, rising usages of smart glass in the Smartphone industry boost the growth of the market.
Smart glass/ smart glass/ dynamic glass technology has been around for years. Some of its key applications include tint-able windows to skylights, offices, hotels, luxury airplanes, and curtain walls. Additionally, strong market penetration of handheld and wearable devices accelerates the market increase. Also, growing industrialization and urbanization worldwide fuel market growth.
Conversely, the high production cost of Smart glass is a key factor likely to continue to impede the growth of the market, increasing the overall price of smart glasses. Also, the tint on this glass projects an unclear view, restricting their uptake in cameras. Nevertheless, technology upgrades expected in the recent future would support market growth throughout the predicted period.
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Segmentation:
The report is segmented into three dynamics;
By Technology: SPD, PDLC, Photochromic, Electrochromic Technology, and others.
By Application: Power Generation, Consumer Goods, Architectural & Construction, Transportation, Automotive, Aircraft, Marine, and others.
By Regions: Americas, Europe, Asia Pacific, and Rest-of-the-World.
Competitive Outlook:
Highly competitive, the global smart glass market appears fragmented due to the presence of many well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, expansion, and product/technology launches. Players leading the global smart glass market include Chromogenics AB (Sweden), Nippon Sheet Glass Co., Ltd (Japan), E-Chromic Technologies, INC. (US), Saint-Gobain Group (France), PPG Industries, Inc (US), Innovative Glass Corporation (US), Ravenwindow (Ravenbrick LLC) (US), LTI Smart Glass, Inc (US), Kinestral Technologies, Inc. (US), AGC Inc (Japan), Hitachi Chemical Co., Ltd (Japan), Gentex Corporation (US), Pleotint Llc (US), and Merck KGAA (Germany), among others.
Regional Analysis:
The Asia Pacific region dominates the global smart glass market. The largest market share majorly attributes to increasing applications of smart glasses in protecting lives from UV rays and furniture and fabrics from fading. Moreover, opportunities in transportation and consumer electronics sectors for SPD use in the latest variants push the smart glass market growth.
Besides, the rapid growth in the automobile industry and increasing investments in infrastructural development drive the regional market. China, India, and Japan are the largest consumer markets for smart glass in this region. Rising applications of smart glass in residential applications push the growth of the regional market. The APAC smart glass market is expected to remain dominant throughout the forecast period.
North America stands second in the global smart glass market. The market is driven by the well-developed technology end-user industries such as construction, automotive, and aerospace. Additionally, growing investments and the high adoption rate of smart glass in infrastructure renovation act as a significant tailwind for the smart glass demand. The North American smart glass market is projected to create a substantial revenue pocket throughout the review period.
The Europe smart glass market is growing rapidly. Factors such as the developed automobile and marine industries in the region provide significant smart glass market opportunities. Besides, the growing government programs encouraging the development of green buildings augment the use of smart glass. Countries such as Germany, France, and Belgium account for the largest share in the regional market. The European smart glass market is forecasted to grow at an impressive CAGR during the estimated period.
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Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued….
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