According to a new report published by Allied Market Research, titled, “Smart Glass Market by Technology and End User Industry: Global Opportunity Analysis and Industry Forecast, 2021–2030, “the global smart glass market was valued at $4.6 billion in 2020, and is projected to reach $15.1 billion by 2030, growing at a CAGR of 12.6% from 2021 to 2030”
the global smart glass market is expected to possess high growth potential in the coming yearsas smart glassas a privacy glass in various end use sectors such as building & construction, automotive, aerospace & aviation, submarines, and others. Properties such as high operational efficiency, low operation costs, and automatic operation make smart glass best suited as privacy glass in hotels, offices, residential building envelopes, and luxury vehicles.
Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/1005
Smart glass is a switchable, electronically tintable glass that can alter the amount of light transmitted through transparent materials. It can be tuned into transparent, translucent or opaque either automatically or manually. It is used as a privacy screen in hotels, houses, automotive, aerospace, and other end use sectors.
Rapid development of building & construction activities based on modern theme architecture has surged the demand for smart glass used in in windows, partitions, skylights, and doors for creating adaptive light atmosphere. This is expected to fuel the growth of the smart glass market during the forecast period.
Impact of Covid-19 on Smart Glass Market:
The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The smart glass market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on the building & construction, automotive, transportation, aerospace & aviation, and other sectors. The increasing risk of infection among the workforce has resulted in delayed construction projects amid the COVID-19 scenario where smart glass is widely used in windows, partitions, skylights, doors, and curtain walls to create a climate adaptive light atmosphere. For instance, according to an article published by CNA, the construction Industry Joint Committee (CIJC) has said that the shortage of manpower may lead to delay in construction projects attributed to workplace safety, and other factors. Moreover, several smart glass manufacturers have either shut down or shrank their operations which in turn have resulted in supply chain disruptions. Also, different raw materials for producing smart glass is purchased or hired from other enterprises. The decreased purchasing potential of suppliers has also negatively impacted the market amid the COVID-19 scenario.
Procure Complete Report (474 Pages PDF with Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/smart-glass-market/purchase-options
However, the manufacturing of smart glass requires expensive and sophisticated equipment. This restrains the manufacturers with less investment potential to enter into smart glass market which in turn may hamper the growth of the global smart glass market during the forecast period.
On the contrary, the rapid shift toward renewable energy sources for power generation purposes has surged the popularity of smart glass used in heating & cooling systems of renewable energy plants. This is expected to offer major opportunities to the global smart glass market.
Get Customization Request: https://www.alliedmarketresearch.com/request-for-customization/1005
Key findings of the study:
- The suspended particle device (SPD) segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 12.8% from 2021 to 2030.
- The transportation segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 13.0% from 2021 to 2030.
- The Europe garnered the highest share of 34.5% in 2020, in terms of revenue, growing at a CAGR of 12.8%.
The major players operating in the Smart Glass Market:
- Asahi Glass Co. Ltd
- ChromoGenics
- Gauzy Ltd and Entities
- Gentex Corporation
- Halio Inc
- PleotintLlc
- RavenbrickLlc
- Research Frontiers Inc
- Saint Gobain
- Showa Denko Materials Co. Ltd
About Us:
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Contact:
David Correa
Portland, OR, United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research