Smart glass is a form of electrically active glass that can be used to create “intelligent partitions” within a given space. To allow active control of light within a medium, these glasses are currently being used in key applications such as building, automotive, and aviation.
Changes in heat and voltage influence the propagation properties of light in smart glass. Thermochromic, electrochromic, photochromic, polymer disperse liquid crystal (PDLC), suspended particle system (SPD), micro-blinds, and nanocrystal glass are all examples of smart glass.
As the adoption of smart glass in the automotive and aerospace industries has increased, transportation is expected to be the highest investment pocket in the smart glass market. Furthermore, an increased understanding of smart glass’s ability to regulate heat and glare, minimize carbon emissions, and improve fuel efficiency is expected to drive its adoption further in the automotive industry.
Key Dynamics for Smart Glass Market
- The growing number of applications in the field of transportation is driving up demand for smart glass. Smart glasses mounted in automobiles are estimated to provide 98% UV protection and 40% solar reduction, rendering the interiors of the vehicles more comfortable.
- Increasing demand for energy-efficient devices, increased potential in solar power generation plants, tapping potential pathways, emerging eco-friendly buildings, and rising demand for smart glasses would all generate new opportunities for the smart glasses industry.
- The optimum energy savings through smart glass applications, the advancements in the automotive industry, expanding smart glass application areas, and evolving new smart glasses competencies in the wearable technology field are some of the primary factors driving the smart glasses market.
- Google Glass, which has a single display, is an example of smart glass. It runs on the Android operating system and is designed to be used with a smartphone. One of its primary functions is to allow updates in a timely and convenient manner. Although there are no specific price or version release announcements, the prices are somewhat similar to those of a smartphone.
Regional Scenario for Smart Glass Market
North America dominates the smart glass market owing to increasing favorable regulations, the presence of key companies, increasing optimal energy savings through smart glass applications, the continuous increment in organizational structure construction. Additionally, rising developments in the automotive industry and the expansion application areas of smart glass are further complementing the exponential rise of the market.
On the other side, Asia-Pacific is expected to be the fastest-growing region in terms of smart glasses market development, on account of falling prices of electrochromic materials and increased government support for energy-efficient construction. Increased energy efficiency through smart glass applications and a steady increase in the construction of organizational structures in this region are also driving the market’s substantial growth.
Highly Fragmented Smart Glass Market
Prominent players operating in the smart glass market are RavenWindow, Asahi Glass Co, Smartglass International, Hitachi Chemical SAGE Electronics, Pleotint, Research FrontiersGentex, and Essex Safety Glass Ltd.
Some of the successful growth strategies adopted by leading players include mergers and acquisitions, patterns and analysis relating to strategic collaboration among partners, and mutual agreements and partnerships. To strengthen their geographical presence, the players are using novel product launch methods.
Deep-dive Insights on Smart Glass Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/smart-glass-market/request-for-sample