Smart Glass Market Report, according to a new report
published by Allied Market Research, titled, Global market is expected
to reach $8,729 million by 2022,
forecasts that the growing at a CAGR of 20.4% from 2016 to 2022. Construction
segment occupied more than half of the total market share in 2015.
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The growth of the global smart glass market is driven by growing construction
of organizational structures such as corporate offices and educational
institutions, increasing developments in the automotive industry, expanding
application areas of smart glass, and emerging new competencies of smart glass
in the wearable technology sector. However, high cost of manufacturing and lack
of know-how of the innovations hamper the market growth. Reduction in the cost
of smart glass products and increased awareness about energy conservation offer
lucrative opportunity for market growth.
The construction segment accounted for the highest
share, in terms of volume, owing to increase in use of smart glass windows in
residential and office spaces to achieve energy saving. Commercial buildings
accounted for majority of the share in 2015 owing to the rise in demand for
smart glass for windows and other applications.
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Key Findings of Smart Glass Market
- North America dominated
the global smart glass market in 2015, accounting for over one-third of
the share, in terms of revenue.
- In 2015, smart glasses used in
transportation accounted for two-fifths share of the global market.
- The automotive segment accounted
for over two-thirds share, and is anticipated to maintain its lead during
the forecast period.
- Germany generated
one-fifth of the total revenue in European smart glass market, and is
expected to show highest growth rate.
- Asia-Pacific smart
glass market is expected to grow at the fastest rate throughout the
forecast period.
- SPD is the leading, accounting
for over one-third of the share, and is anticipated to maintain its
dominance in the study period.
In 2015, North America dominated
the global smart glass market with maximum share, in terms of both revenue and
volume. This was attributed to the high percentage of manufacturers as well as
consumers of smart glass & windows. Apart from that, Asia-Pacific is expected to grow with the fastest
rate, registering CAGR of 21.6% throughout the forecast period, owing to
extensive development in the automotive industries of the developing countries
such as India and China.
The key players of smart glass market profiled in
this report are SAGE Electrochromics, Inc., Research Frontiers, Inc., View,
Inc., Asahi Glass Company Ltd., Hitachi Chemicals Co., Ltd., Smartglass
International Ltd., Polytronix, Inc., Schott Corporation, RavenBrick LLC, and
Pleotint, LLC.
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About Us:
Allied Market Research (AMR) is
a full-service market research and business-consulting wing of Allied Analytics
LLP based in Portland, Oregon. Allied Market Research provides global
enterprises as well as medium and small businesses with unmatched quality of
“Market Research Reports” and “Business Intelligence Solutions”. AMR has a
targeted view to provide business insights and consulting to assist its clients
to make strategic business decisions and achieve sustainable growth in their
respective market domain.
We are in professional corporate
relations with various companies and this helps us in digging out market data
that helps us generate accurate research data tables and confirms utmost
accuracy in our market forecasting. Each and every data presented in the
reports published by us is extracted through primary interviews with top
officials from leading companies of domain concerned. Our secondary data
procurement methodology includes deep online and offline research and
discussion with knowledgeable professionals and analysts in the industry.
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