Smart Glass Market is Expected to Reach USD 7.70 billion by 2023: Vision Systems, PPG Industries Inc., Research Frontiers Inc., Corning, INC., Sage Electronics, Pleotint LLC

Industry Trend Analysis
In 2014, the global smart glass market was evaluated around USD 1.95 billion and is expected to reach approximately USD 7.70 billion by 2023 while registering itself at a compound annual growth rate (CAGR) of 16.50% over the forecast period. The growth of the global market is assigned to the capability of the glass to modulate heat and transmit light in accordance with the external ecological conditions. As structure owners recognized the long-term benefits linked with energy competence, they have initiated demonstrating a preference towards implementing this technology. The market is acquiring prominence owing to the appearance of strict regulations regarding large-scale urbanization and energy efficiency in emerging countries. Amplified investments in the production of smart glass along with the formation of industrial-scale manufacturing capacity, has considerably contributed towards industry growth. Rising consolidations between technology suppliers and providers are boosting the smart glass development, customized as per an extensive range of application fields. Factors like rising applications in aviation, marine, and power generation are assisting the market growth. In addition, the appearance of novel solutions has contributed to the development of smart windows in the architectural segment. The rising importance of green energy initiatives, like green & eco-friendly buildings, and the prominence of non-electric technologies, like thermochromic technology, has fueled the market growth. Administrative support rendered by several governments, via financial aid and tax initiatives around the world is also bestowing to the market demand.

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Competitive Outlook and Trend Analysis
The major market players are Vision Systems, PPG Industries Inc., Research Frontiers Inc., Corning, INC., Sage Electronics, Pleotint LLC, Hitachi Chemical Co. Ltd., Asahi Glass Co., Ltd., SAGE Electrochromics, Inc., SmartGlass International Ltd., Ravenbrick LLC, Pleotint LLC, Saint-Gobain S.A., and E. I. du Pont de Nemours and Company. The market is ruled by a few key players rendering solutions for end-user applications.

Technology Outlook and Trend Analysis
In 2016, the Suspended Particle Devices (SPD) sector reported for a market revenue share of approximately 40%. This technology facilitates control of heat, glare, and light entering the premises to render enhanced user comfort and well-being combined with considerable improvement in energy competence. This SPD smart glass growth can be assigned to its elevated electricity-saving capacities. The decline in energy consumption happens on account of the dynamic control of lunar radiations, which ensues in an extensive decline in HVAC energy usage. The decline in energy consumption contributes to a rise in total energy savings owing to the maximum use of daylight. The European and North American regions are anticipated to appear as the major markets for liquid crystal smart glass owing to the augmented emphasis on the application of ‘Green Energy’ resources.

Application Outlook and Trend Analysis
In 2016, the transportation application section captured a market revenue share of around 45%. It is expected to appear as the most productive segment, due to the rising implementation of this technology by medium-sized and premium car makers. The increasing infiltration of premium vehicles in the Asia Pacific regional market, combined with elevated earnings levels of costumers, is the key driving factor for the market growth in automobile applications. The construction segment is alleged to be a sector that shows potential, due to its elevated growth rate with steady investments in smart technology. Most of the skyscrapers and high towers in the Middle East region have integrated smart glass for external structure manufacturing to trim down light and heat transmissions and preserve internal ambiance.

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Regional Outlook and Trend Analysis
In 2016, North American region ruled the global smart glass industry with a market share around 35%. Encouraging regulations and authorizations have contributed to the expansion of these products in this region. They have altered total energy savings and abbreviated maintenance costs directing to impact the growth of the market positively. The U.S. governments and the European Union territories are scheduling to regulate the implementation of smart glass-integrated electronic instruments and have led their transport departments toward the similar. Furthermore, the existence of major players in this region and the rising automotive production are assisting the growth of the market.

The global smart glass market is segmented as follows –
By Technology
Electrochromic
Polymer Dispersed Liquid Crystal (PDLC)
Suspended Particle Devices (SPD)
Thermochromic
Photochromic

By Application
Architectural
Transportation
Automotive
Aircraft
Marine
Consumer electronics
Power generation

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