Smart glass is a glass or glazing which can be altered thought the light transmission properties when voltage, light or heat is applied. It changes from translucent to transparent which allows light to go through or block certain wavelengths. Smart glass creates climate adaptive building shells, with the ability to save costs for heating, air-conditioning and lighting through its application on building. Thus, the product finds an extensive use in green buildings for saving energy needed to light, heat or cool these buildings.
Primarily, smart glass market growth is attributed to the surging eminence of green energy initiatives such as green buildings and eco-friendly & non-electric technologies including thermochromic. Smart glass is mainly known as switchable glass or magic glass. This market basically provides various advantages, such as energy efficiency, user comfort, reliable and reduced carbon emission. Due to such advantage, use of smart glass increased throughout the years. Growing use of smart glass in sun visors, sunroofs, side and rear windows in the top-class premium cars have significantly changed the market.
The report on global smart glass market provides a comprehensive analysis and industry insights. The report analysis is based on a systematic and detailed segmentation of the global smart glass market. Factors that are driving the growth of the global smart glass market include increasing demand for smart glass in automobile applications and commercial residence, decrease in the prices of electrochromic materials, increasing support and initiation of government in application and legislations for energy-efficient construction, optimal energy saving through smart glass applications and expansion. Factors which are restraining the growth of global smart glass market are higher cost of implementation of smart glass, lack of technological awareness and lack knowledge of the use of the product, and issues which is related to the performance of smart glass. Moreover, the positive outlook for the commercial industry, automotive industry, and increasing in the investments for infrastructure projects are some other factors which contribute to the industry growth.
By application, the global smart glass market is segmented into architecture, transportation, power generation plants (solar) and consumer electronics & others. Further smart glass market for architecture market is divided into commercial and residential. Where as, transportation smart glass market is sub-segmented into automotive, bus/rail, aerospace and marine. The demand for smart glass is high in different sectors. Amongst the mentioned sectors, transportation segment is leading end-user market across the globe and projected to continue its domination in the coming years. And also automotive and aerospace industries have significant influence in the market share.