Smart Surfaces Market: Structure and Overview of Key Market Forces Propelling Market
According to a new research report released by Transparency Market Research, the investments made by smart surface companies are quite high currently, owing to the sheer volume of research and development efforts needed to make the technology feasible for large-scale usage.
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Additionally, although the demand for smart surfaces is extremely high, manufacturers are unable to provide products that can be used across multiple fields of applications. It is therefore difficult for all application segments to avail a strong supply of smart surfaces to meet the rapidly increasing demand.
“One of the leading ways in which smart surfaces manufactures are currently benefiting is the combination of high demand and high regulatory pressure in the healthcare industry,” states a TMR analyst. “For example, there is appreciable demand for antimicrobial surfaces in hospitals today, but manufacturers have to walk through the long list of regulatory guidelines over what materials they can and cannot use.”
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Additionally, this regulatory pressure changes between regions. The U.S. and most of Europe is extremely cautious against the use of silver in antimicrobial floor coatings, while the same pressure will be a lot less in other regions. As a result of the high demand, the amount of investments going into getting smart surfaces developed and compliant is substantial. It thus becomes the current leading driver for the smart surfaces market players.
The demand for smart surfaces is exceptionally diverse in terms of the application industry as well as the type of application itself. They can, for instance, be used for floors in hospitals or windshields of cars. Both smart surfaces can be provided by one player, but the production of both materials would be completely different.
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The transportation industry has consistently been the leading application segment for smart surfaces since 2015. By the end of 2021, this industry will generate a revenue of approximately US$6.4 bn for smart surface manufacturers. The construction industry comes in a close second place in terms of smart surfaces market value.Self-cleaning materials are in massive demand currently, and this trend is expected to rise over the coming years. The revenue generated by self-cleaning smart surfaces is expected to reach US$10.2 bn by 2021.
The largest demand for smart surfaces in terms of region is currently originating from Asia Pacific, a trend which is expected to continue till 2021. By the end of 2021, APAC will have generated close to US$7.6 bn in smart surfaces revenue.The information presented in this review is based on a Transparency Market Research report, titled, “Smart Surfaces Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021.”
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.
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