The global smart glass market share is expected to be USD 7.91 billion in 2028
According to a new study by Polaris Market Research, the global smart glass market size is expected to reach USD 7.91 billion by 2028, growing at a CAGR of 7.0%.
Increasing investment in construction and construction industry coupled with rising disposable income of consumers is driving the growth of the market.
Growing need for energy efficiency, growing need for privacy, technological advancements, shift towards sustainable solutions, and increasing usage in commercial spaces, healthcare, and hospitality industries are some of the factors driving the growth of smart glass over the forecast period.
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Different technologies used in smart glass include photochromic, liquid crystal, suspended particle displays, electrochromic, thermochromic, etc. The demand for electrochromic glass is expected to increase during the forecast period. Electrochromic products are used in skylights, windows and facades to provide color and privacy.
The use of smart glass in buildings offers several benefits such as enhanced comfort, energy savings, lower maintenance costs and maximum daylight. Growing adoption of smart buildings to reduce energy consumption, and rising environmental awareness complement the growth of this segment.
End users of smart glass are automotive and transportation, construction, aerospace, solar, and more. Construction and construction had the highest percentage in 2020. Increasing applications in commercial buildings and energy efficient buildings have increased the demand for this product.
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North America dominated the global smart glass market in 2020 and is expected to maintain its dominance over the forecast period. However, the Asia Pacific market is expected to grow at a significant rate over the forecast period. Growing industrial growth, increasing awareness of energy-efficient materials, increasing urbanization, and growth in the automotive industry are all supporting the market growth in this region.
Major global players are expanding their operations in countries such as China, Japan, India, and South Korea to capitalize on these countries for growth opportunities. There is an increasing demand for smart glass in industries such as construction, aerospace and transportation.
P.S. The article comes from China Glass Network(www.glass.com.cn)
Increasing investment in construction and construction industry coupled with rising disposable income of consumers is driving the growth of the market.
Growing need for energy efficiency, growing need for privacy, technological advancements, shift towards sustainable solutions, and increasing usage in commercial spaces, healthcare, and hospitality industries are some of the factors driving the growth of smart glass over the forecast period.
.jpg)
Different technologies used in smart glass include photochromic, liquid crystal, suspended particle displays, electrochromic, thermochromic, etc. The demand for electrochromic glass is expected to increase during the forecast period. Electrochromic products are used in skylights, windows and facades to provide color and privacy.
The use of smart glass in buildings offers several benefits such as enhanced comfort, energy savings, lower maintenance costs and maximum daylight. Growing adoption of smart buildings to reduce energy consumption, and rising environmental awareness complement the growth of this segment.
End users of smart glass are automotive and transportation, construction, aerospace, solar, and more. Construction and construction had the highest percentage in 2020. Increasing applications in commercial buildings and energy efficient buildings have increased the demand for this product.
.jpg)
North America dominated the global smart glass market in 2020 and is expected to maintain its dominance over the forecast period. However, the Asia Pacific market is expected to grow at a significant rate over the forecast period. Growing industrial growth, increasing awareness of energy-efficient materials, increasing urbanization, and growth in the automotive industry are all supporting the market growth in this region.
Major global players are expanding their operations in countries such as China, Japan, India, and South Korea to capitalize on these countries for growth opportunities. There is an increasing demand for smart glass in industries such as construction, aerospace and transportation.
P.S. The article comes from China Glass Network(www.glass.com.cn)