The Smart Glass and Window Market Are Growing And They’re Expected To Surpass $6 billion By 2021

smart glass

Transparency Market Research has published a report named “Smart Glass and Window Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021” in which was specified that the value of the smart glass and window reached $2.2 billion in 2014, and by the end of 2020, it’s expected to exceed $6 billion. Smart glasses will be indispensable materials for construction companies and building managers, who will also need windows for their projects, and this is why we’ll witness a demand and supply increase in the next five years.

Normal glasses don’t have the ability to block UV light or to reduce heat formation within cars, and many automobile manufacturers will switch to smart glasses, which will have the capability to ensure passenger safety. The production of smart windows will be intensified in the near future, because there are many sectors which will need this new type of technology. The customers will be construction companies, automotive manufacturers etc., and the countries which require these glasses in order to conserve the energy needs are India and China, which are overpopulated.

The market is divided into two segments: active and passive. Last year, active smart glass and window had the largest share of the market, accounting over 80 percent. The new glasses are able to change light transmission properties and it’s required only a single switch. The active segment is also divided into other sectors such as polymer dispersed liquid crystals, suspended particle device etc. As for the passive segment, it’s divided into passive photochromic (targeting the architectural sector) and passive thermochromic.

If we’re segmenting the market by geography, then we have four main regions: North America (The US and Canada are the countries which acquired the largest share of the global market because they’re trying to raise consumer awareness for energy conservation), Europe, Asia Pacific and Rest of the World. Research Frontiers, Inc., Compagnie de Saint-Gobain S.A., Asahi Glass Co., Ltd., Hitachi Chemical Co., Ltd. Are some of the biggest players in the smart glass and window market.

Sources: Pr News Wire and Transparency Market Research.