(EMAILWIRE.COM, March 17, 2020 ) According to the new research report "Smart Glass Market by Technology (Suspended Particle Display, Electrochromic, Liquid Crystal, Photochromic, Thermochromic), Application (Architecture, Transportation, Consumer Electronics), and Geography - Global Forecast to 2023", the smart glass market is expected to reach USD 8.35 Billion by 2023 from USD 3.32 Billion by 2017, at a CAGR of 16.61% between 2017 and 2023. The growth of this market is mainly driven by factors such growing demand for smart glass in automobile applications, strong government support through mandates and legislations for energy-efficient construction, and optimal energy saving through smart glass applications

Download PDF Brochure:-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=907

Declining prices of electrochromic materials

At present, electrochromic materials are offered as both smart electrochromic glasses and electrochromic films. Various reasons make electrochromic materials an ideal material for smart windows. Being an active technology, electrochromic windows can be directly controlled manually or by building automation systems for optimum comfort and energy control. The performance and capabilities of electrochromic materials are well understood because of their widespread adoption in auto mirrors.

Electrochromic glasses exhibit long product life as electrochromic materials are not easily deteriorated by light. Electrochromic windows are a highly functional technology that is at, or near, full commercialization. With these characteristics, the popularity of electrochromic glasses has increased. Moreover, the prices of electrochromic glasses are also declining with increasing economies of scale. Sage Electrochromics managed to reduce the cost of smart glass by 50% over the past 4 years by scaling up the new manufacturing capabilities with economies of scale.

Europe expected to dominate smart glass market during the forecast period

The smart glass market in Europe is expected to grow at the highest CAGR during the forecast period. Europe consists of a number of developed countries such as Belgium, France, Germany, Italy, and the UK. This region derives its revenues from the tourism, industry, and manufacturing businesses, among others. The hospitality and automotive manufacturing sectors in this region have grown tremendously due to supportive government policies over the past few decades. The government initiatives for green buildings and energy harvesting have contributed to the rise in the popularity of smart glasses. As a result, Europe holds a significant share of the overall smart glass market.

The key players in the market include SAGE Electrochromics, Research Frontiers, View, Inc., Asahi Glass Co., Gentex, Hitachi Chemical, Glass Apps, Pleotint, Polytronix, RavenWindow, Scienstry, Smartglass International, and SPD Control Systems. The key players in this market are increasingly undertaking the strategies of partnerships and collaborations, and product developments and launches to develop and introduce new technologies and products to the market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com