Smart Glass Market Projected to be $11.73 Billion by 2027 with Top Key Players are Artratio S.L., Asahi Glass Co. Ltd., Compagnie de Saint-Gobain S.A, Corning, Gentex Corporation

Latest market study on "Smart Glass Market to 2027 by Technology (Electrochromic, Polymer Dispersed Liquid Crystal (PDLC), Suspended Particle Device (SPD), Thermochromic, Photochromic, and Others); Application (Commercial, Residential, Power Generation, Transportation, Automotive, Aerospace & Defense, and Others) - Global Analysis and Forecast", The Smart Glass Market is estimated to reach US$ 11.73 Bn by 2027 from US$ 2.85 Bn in 2018. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.

Smart glass also known as switchable glass are glasses capable of altering their light transmission properties with the change in light, voltage or heat. In general, the glasses blocks some or all wavelengths of light in order to let the light pass through, by changing from translucent to transparent.

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APAC is considered to be the fastest growing economic region. The dominance of the region is majorly attributed to the presence of large numbers of leading smart glass manufacturers. Almost 60% of the world's population lives in the Asia Pacific region, China and India being the most populated countries. More than 2 billion people live in the urban areas.

Top Companies

- Asahi Glass Co. Ltd.

- Corning, INC.

- Gentex Corporation

- Hitachi Chemical Co., Ltd.

- Polytronix, Inc.

- Domoticware

- Smartglass International Ltd.

- SPD Control System Corporation

- Research Frontiers Incorporated

- Pleotint, LLC

The construction industry is expanding at a steady growth rate in the developed regions across the globe. While on the other hand, in the developing regions, the industry is experiencing a substantial growth rate. Investments in infrastructure construction industry is continuously growing across the globe. The major focus of investments is on the residential sectors as the global population is constantly increasing at an exponential rate, which is demanding more residential spaces. The number of new residential buildings or individual houses rose rapidly over the years in the developed as well as developing nations worldwide. The US infrastructure industry is set to continue relatively fair growth rate during the forecast period which is heavily supported by residential constructions.

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Similarly, Canada's New Canada Building Plan is supporting the construction industry in the country and the same is expected to drive the industry in the coming years. The growing investments and initiatives in the residential and commercial construction in North American countries is influencing the glass manufacturers to increase their production. This factor is boosting the market demand for smart glass in the North American residential as well as commercial constructions. Construction in European countries is also increasing slowly, demanding improved building materials. European countries namely; Spain, Italy, and Turkey are experiencing demand for increased number of residential sectors as well as commercial spaces, thereby, catalyzing the demand for smart glass. The increased demand from the builders in the countries is propelling the production lines of glass windows and doors year on year in these countries, thereby, substantially driving the market.

Strategic Insights

Market Initiatives are referred as most adopted strategies in global smart glass market. Few of the recent market initiatives are listed below;

2019: Research Frontiers Inc. (Nasdaq: REFR) and Vision Systems launched a development program together to produce SPD-Smart light-control film used in Vision Systems' electronically dimmable windows (EDWs). The performance and reliability of these Vision Systems' products surpass all other products on the market, including "electrochromic" EDWs.

2018: Hitachi Chemical unveiled its plan to develop new light integrators for smaller smart glass. The company is looking for enhancing its offerings in optical plastics for smart glass by coming out with new optical integrators. Hitachi's new product possesses the same light efficiency provided by a dichroic mirror and even in strong external light outdoors achieves high visibility. Moreover, the company sees the innovative technology as a substitute for the configuration of existing smart glass.

2017: AGC Asahi Glass, a world-leading manufacturer of glass, chemicals, and high-tech materials, and Kinestral Technologies, maker of Halio(TM) smart-tinting glass, today announced the creation of three joint venture companies that will sell, distribute, and service Halio to the global market. Formed to accelerate the adoption of Halio, the new ventures - Halio North America, Halio International, and Halio China - will be the exclusive sales and marketing agents for Halio smart-tinting glass in the commercial and residential housing industries.

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The objectives of this report are as follows:

- To provide overview of the global Smart Glass market

- To analyze and forecast the global Smart Glass market on the basis of technology, and application.

- To provide market size and forecast till 2025 for overall Smart Glass market with respect to five major regions, namely; North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM), which are later sub-segmented across respective major countries.

- To evaluate market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend.

- To provide exhaustive PEST analysis for all five regions.

- To profiles key Smart Glass players influencing the market along with their SWOT analysis and market strategies.

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This release was published on openPR.