The Global Smart Glass Market was valued at USD 5.31 billion in 2019 which is expected to reach USD 14.22 billion by 2020 at a CAGR 16.55%.
The smart glasses are referred as the electronically controlled devices that allow users to control the amount of heat, and light passing through the glass manually or automatically. These glasses are controlled by various methods such as motion detectors, automatic photo sensors, smartphones, and light switches to regulate the amount of light and heat passing through them.
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The rise in the implementation of sustainable solutions in the architectural and automotive sectors is fuelling the market growth. Smart glasses have widespread importance as end users are realizing their distinctive aesthetics and technical attributes. Furthermore, energy-efficient glasses are experiencing high demand as a consequence of policy-driven environmental and energy safety perspective. Also, the increase in investments in infrastructure projects will positively influence the construction industry growth, which expected to drive the demand of smart glass market over the forecast period. In addition to that, growing urbanization in developing countries will increase the demand of smart glass across the globe.
The high cost of smart glass is the major restraint expected to limit the global smart glass market growth. Also, the rise in technical issues related to performance of smart glass will hamper the global smart glass market growth.
The Global Smart Glass Market is segmented into technology such as Electrochromic, Polymer Dispersed Liquid Crystal, Suspended Particle Derives, Thermochromic, and Photochromic. Further, market is segmented into application such as Architectural, transportation (Automotive, Aircraft, and Marine), Consumer Electronics, and Power Generation.
Also, Global Smart Glass Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East Africa.
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Market Key Players
Various key players are discussed in global smart glass market report such as Saint-Gobain Group, Innovative Glass Corporation, Nippon Sheet Glass Co., Ltd, Hitachi Chemical Co., Ltd, AGC Inc, Chromogenics AB, E-Chromic Technologies, INC., Pleotint Plc, Gentex Corporation, Kinestral Technologies, Inc., and PPG Industries, Inc.
The global smart glass market has been examined for the forecast period by considering porter’s five force model for the review period of 2020 to 2027. In addition, a detailed swot analysis has been conducted for an accurate understanding of the various factors influencing the global smart glass market.
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