Press release
Smart Glass and Window Market - Technological Advancements
With leading players exploring applications beyond conventional sectors, Transparency Market Research (TMR) forecasts, the global smart glass and window market to surge at a 14.7% CAGR from 2015 to 2021.
Besides their rising installation across green buildings, demand for smart glass and windows is also expected increase in the automotive, marine, power generation, and construction sectors.
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Currently, the market has a stronger footprint in developed regions. However, during the course of the forecast period and as a consequence of robust infrastructural development, deployment of smart glass and windows is likely to be widespread across emerging economies.
Automotive and Construction Sectors Exhibit Highest Demand for Smart Glass and Window
Industries such as marine, construction, automotive, and aircraft presently exhibit the highest demand for smart glass and windows. Of these, the automotive segment emerged dominant in the market, accounting for a share of 46.6% in 2014.
Demand for vehicles offering improved fuel-efficiency will increase exponentially in the forthcoming years. Vehicle manufacturers are therefore exploring the latest technologies to render cars more fuel-efficient.
TMR expects the advent of smart glass and window to considerably aid the objectives of auto-manufacturers. Several leading car manufacturers have already incorporated the technology in side view and rear view mirrors. This will bode well for smart glass and window sales.
Construction in the same year emerged as the second-largest application segment in the global smart glass and window market. It held over 43.6% of the market in 2014.
The rising need of efficient energy consumption in commercial, corporate, as well as residential buildings will boost installation of smart glasses and windows across the construction sector.
The global smart glass and window market comprises North America, Asia Pacific, Europe, and Rest of the World. Among these regions, North America emerged dominant in the market in 2014, with a share of 31.8%. The North America smart glass and window market is projected to rise at a CAGR of 14.7% between 2015 and 2021.
The region witnesses rapid technological advancements, high demand for energy-efficient products, and supportive government regulations. Spurred by these factors, the installation of smart glass and windows has significantly increased across the automotive, construction, marine, and other sectors in the region. The U.S. emerged as the largest market for smart glass and window in the region, followed by Canada.
About TMR
TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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