Smart Glass Market 2020 Growth | Key Players: Saint Gobain, NSG Group, Asahi Glass, Merck & Co., View Inc
The growing focus on energy saving and user controlled windows for building across the globe will lead the smart glass demand.
Smart glass demand is growing on account of increasing energy saving for commercial offices and high end residential spaces.
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The increasing construction of energy efficient buildings in Europe, and North America will primarily drive the smart glass market growth over the forecast timeframe.
Major players operating in the smart glass market are Saint Gobain, Asahi glass, NSG group, View Inc, RavenWindow, Merck &, Co., Gauzy, Pleotint LLC, Polytronix, and Smartglass International.
Smart glass: A 'commercial' approach to energy savings
Smart glass is a definitive term that is used for an electronically switchable glass as it has a potential to change its visibility from a clear, see through glass surface to an opaque and murky translucent surface, at a single tap of button. Apparently, this feature has made smart glass extremely desirable in the commercial spaces. Smart glass possesses the power of controlling both privacy and energy savings, thereby finding its way in commercial interiors.
Speaking in terms of the commercial spectrum, construction companies worldwide have been deploying smart glass on a wide scale, considering its advantages. A vital instance testifying the aforementioned is provided by Glatic Co.
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According to official sources, Research frontiers and Glatic Company, in December last year, unitedly announced producing and commercializing SPD SmartGlass smart windows to its customers in the South Korean architectural market. Reports suggest that the deployment of SPD SmartGlass could enhance the employees' productivity along with reducing the carbon emissions.
Various studies suggest that with the increasing pace of product deployment, the smart glass adoption could reach nearly 30% to 50% of commercial building space in the high income countries by 2050.
Construction industry has a share of over 60% in the overall smart glass market. The product especially finds use in commercial buildings such as offices, hotels, conference rooms, space partitions, bathrooms, windows, skylights etc. Excess exposure to sun glare and light may cause discomfort to the occupants in offices or residences. It results in reduced productivity.
Additionally, the increased heat correspondingly results in greater use of Acs, thereby increasing the energy usage and related cost.
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Smart glass can significantly lower the energy intake and result in up to 43% annual energy bill savings. Apart from construction, smart glass market is swiftly growing in transportation sector, mainly in automobile, marine and aviation.
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