Pune, India, Dec. 19, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights™, the global smart glass market size is projected to reach USD 15,788.0 million by the end of 2027. The market was worth USD 4,651.3 million in 2019 and will exhibit a CAGR of 17.2% during the forecast period, 2020-2027.
The increasing investments in the research and development of low cost and efficient products will bode well for market growth. The increasing integration of smart glasses in the aerospace industry will have a positive impact on market growth. According to a report published by Fortune Business Insights,
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List of companies profiled in the report:
- Saint-Gobain (France)
- View, Inc. (U.S.)
- GENTEX Corporation (U.S.)
- Polytronix, Inc. (U.S.)
- Smartglass International Limited (Ireland)
- Glass Apps (U.S.)
- Scienstry, Inc. (U.S.)
- AGC Inc. (Japan)
- Research Frontiers (U.S.)
- Essex Safety Glass (UK)
- Gauzy Ltd and Entities (Israel)
- BSG Glass (Thailand)
- Asahi India Glass Ltd. (India)
- Nippon Sheet Glass Co. Ltd.
- Schott AG (Germany)
- Central Glass Co., Ltd. (Japan)
- Pleotint LLC (U.S.)
- SPD Control Systems Corporation (U.S.)
- Other key players
Report Scope
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast CAGR | 17.2% |
| 2027 Value Projection | USD 15,788.0 Million |
| Base Year | 2019 |
| Smart Glass Market Size in 2019 | USD 4,651.3 Million |
| Historical Data | 2016-2018 |
| No. of Pages | 130 |
| Segments Covered | By Form, By Product and Regional |
| Smart Glass Market Growth Drivers | Company Mergers and Acquisitions are an Increasing Trend Among Major Companies across the World |
| Europe Holds the Highest Market Share; Increasing Product Use in Architectural Design will Emerge in Favor of Market Growth |
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Smart glass is widely used across several industry verticals as a medium of display and other interfaces. The product works on the mechanism of light or voltage transmission wherein it changes its appearance whenever the aforementioned factors are passed or applied through it. The massive investments in the research and development of smart glass are consequential to the increasing applications of the product across diverse industries.
The rising adoption and subsequently rising demand for smart homes and the integration of technologically advanced devices will create several growth opportunities for the market in the coming years. Due to the massive potential held by smart glass across the world, there are several companies operating across the world. Ultimately, the fierce market competition results in even more innovations and this will have a positive impact on the growth of the overall market in the coming years.
Segmentation
By Technology
- Polymer Dispersed Liquid Crystal Glass
- Suspended Particle Device Glass
- Electrochromic Glass
- Photochromic Glass
- Thermochromic Glass
Application
- Architectural
- Automotive & Transportation
- Consumer Electronics
- Power Generation
Decrease in Product Demand during the Covid-19 Pandemic will have a Negative Impact on SMEs
The recent coronavirus outbreak has had a drastic impact on several industries across the world. With shutdowns in manufacturing units and production houses, the coronavirus outbreak has hampered the economic conditions of most businesses that come under the small and medium enterprise (SME) bracket.
The decreasing in demand for smart glasses in industrial sectors will have a negative impact on the market. Having said that, the constant demand for smart homes and the increasing integration of smart glasses in smart homes, will provide a platform for growth in an otherwise stagnant market.
Company Mergers and Acquisitions are an Increasing Trend Among Major Companies across the World
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the massive potential held by smart glass across the world, there have been several company mergers and acquisitions in recent times. Due to healthy market competition, large scale companies are looking to acquire start-ups as well as SMEs. In 2020, Smartglass International announced that has forged a partnership with V-stream.
The latter is an Ireland-based company and focuses on tech-innovations. Through this collaboration, the companies will look to implement the multi-panel floor-to-ceiling privacy smart glass, specifically for Dell offices in Ireland. Given the massive demand for smart glasses in Europe, this collaboration will influence other companies in this sector. The report highlights a few other company mergers of recent times and discusses their impact on the global market.
Europe Holds the Highest Market Share; Increasing Product Use in Architectural Design will Emerge in Favor of Market Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Europe is projected to emerge dominant in the coming years. The rising demand and adoption of smart glasses in architectural designs and interiors will have a huge impact on the growth of the regional market.
Moreover, the efforts put in to integrate smart glasses in renovations and retrofitting of old infrastructures will also contribute to the growth of the regional market. As of 2019, the market in Europe was worth USD 1,994.7 million and this value is projected to rise at a considerable pace in the coming years.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/smart-glass-market-102569
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights on Impact of COVID-19 on Global Smart Glass
- Supply Chain Analysis & Challenges
- Steps taken by Government / Companies to Overcome this Impact
- Potential Challenges and Opportunities due to COVID-19 Outbreak
- Global Smart Glass Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Technology (Value)
- Polymer Dispersed Liquid Crystal (PDLC) Glass
- Suspended Particle Device (SPD) Glass
- Electrochromic (EC) Glass
- Photochromic Glass
- Thermochromic Glass
- By Application (Value)
- Architectural
- Automotive & Transportation
- Consumer Electronics
- Power Generation
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Rest of World
- By Technology (Value)
TOC Continued…!
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Frequently Asked Questions (FAQs):
1. Is the Impact of COVID-19 on smart glass industry growing?
Answer: The global smart glass market size is projected to reach USD 15,788.0 million by the end of 2027. The market was worth USD 4,651.3 million in 2019 and will exhibit a CAGR of 7.2% during the forecast period, 2020-2027.
2. Who are the key players in the the Impact of COVID-19 on Smart Glass Market?
Answer: Glass Apps (U.S.), Scienstry, Inc. (U.S.), AGC Inc. (Japan), Research Frontiers (U.S.), Essex Safety Glass (UK), Gauzy Ltd and Entities (Israel), BSG Glass (Thailand), Asahi India Glass Ltd. (India)
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