Smart Glass Market to Cross USD 11.4 Billion by 2028 as Energy Conservation Initiatives Increases
The smart glass market was valued at USD 5.1 Billion in 2021 and is anticipated to reach USD 11.4 Billion by 2028, growing at a CAGR of 13.2% during the forecast period (2022-2028).
Westford, USA, Jan. 11, 2023 (GLOBE NEWSWIRE) — The growing use of smart glass in automotive applications and mandatory government regulations and legislation on energy efficiency are projected to impact the smart glass industry favorably. Smart glass is dynamic and multifunctional, bringing a generally static material to life. In addition, transparent materials, such as glass or polycarbonate, can change from clear to tinted or entirely opaque on command, allowing for private glass. Post-pandemic phase, there is a surge in construction activities and infrastructure projects, which has facilitated the widespread installation of smart glass in various residential and commercial complexes.
According to SkyQuest’s projections, more than 8.8 million American workers started using smart glasses by 2021. Additionally, the unit sales of augmented reality (AR) smart glasses among the leading brands worldwide are expected to reach 3.8 million units by 2024.
Get a sample copy of this report:
https://skyquestt.com/sample-request/smart-glass-market
Electrochromic Glass Segment to Witness High Sales Thanks to Its High UV and IV Ray Blocking Ratio
As per SkyQuest’s estimates, the electrochromic glass market is predicted to grow remarkably, with a CAGR of 7.8% to cross USD 2,702.55 Million by 2028. Electrochromic glass is used in various settings, including educational institutions, business buildings, hospitals, and retail establishments. Electrochromic glass may be readily colored and opaque, allowing it to adjust the heat and transmit light as needed. The electrochromic glass segment is expected to grow during the projected period due to its low driving voltage, high UV and IV ray blocking ratio, and simplicity of integration with large glass panels. Furthermore, electrochromic glasses have the potential to effortlessly transform into opaque, colored, or tinted glasses that adjust the heat by transmitting light. These glasses are commonly used in hospitals, business structures, educational facilities, and retail establishments.
The most recent research report on the smart glass market provides an in-depth, well-organized view of the market’s data. The research includes a comprehensive assessment of critical market dynamics and current developments. Our thorough study of this industrial space will enable you to develop contingency plans and equip you to deal with market uncertainties. In addition, the research answers questions concerning current market changes and the amount of competition and opportunity in the industry.
Browse summary of the report and Complete Table of Contents (ToC):
https://skyquestt.com/report/smart-glass-market
Rising Demand for Smart Glasses in the Automotive Industry to Propel Market Growth
Smart glass has a wide range of uses, particularly in the automotive industry, such as sunroofs and exterior and interior automated dimming rearview mirrors. According to Department of Energy (DoE) estimates, there are roughly 500 million square feet of windows installed in the commercial sector that employ smart glass and help in energy conservation, improving indoor air quality and providing thermal comfort. In addition, the global expansion of the automotive industry and increased sales of SUVs and premium cars are likely to stimulate sales of automotive smart glass.
Recently, Jaguar Land Rover used smart glass to market the F-Type, and Rolls-Royce used it to promote the Dawn. Mercedes-S-Class Benz’s Coupe and other S-Class models include a sophisticated Magic Sky Control panoramic roof with SPD-Smart Glass technology. By combining switchable technology with a projection application, the user can maximize the utilization of two of the most desired switchable glass properties. The growing popularity of electric vehicles outfitted with innovative technologies is likely to fuel demand for smart glass in the automotive industry.
The research report on smart glass market aims to define market sizes for various segments and regions in recent years and forecast values for the following years. In addition, the evaluation of company expansion plans and strategies for the smart glasses product portfolio is intended to include both qualitative and quantitative aspects of the industry within each region and country covered in the market analysis.
Increasing Focus on Sustainable Architectures to Diversify Smart Glass Applications
The European Union issued directives to member countries, such as the “New Energy Performance in Construction,” to encourage sustainable building materials. Furthermore, the United States successfully increased its green building registrations through Leadership in Environmental and Design (LEED). As a result, such concentrated efforts on green building and sustainability have the potential to provide promising prospects in the smart glass sector.
As per SkyQuest’s research insights, the smart glass will find key applications in solar appliances that may help improve the operational efficiency of solar-powered cooling and heating systems by 20 to 30%. Such advancements will provide lucrative opportunities for smart glass manufacturers and related stakeholders.
The market report includes in-depth information on demand and supply analyses, contributions from key industry players, and market share growth in the smart glass market. In addition, the research includes additional information such as business strategy forecast and cost analysis, creative trends and product performance patterns, revenue estimates, gross margin, and market share of key industry competitors.
Speak to Analyst for your custom requirements:
https://skyquestt.com/speak-with-analyst/smart-glass-market
Key Developments in Smart Glass Market
- Microsoft and Volkswagen worked together to make augmented reality glasses a reality. Researchers at the German carmaker Volkswagen consider augmented reality as one of the essential parts of the future mobility idea. As a result, Volkswagen has collaborated with Microsoft to make the mixed reality glasses HoloLens 2 available in mobile vehicles for the first time.
- Qualcomm Technologies, the world’s leading mobile communications equipment and components manufacturer, unveiled the Qualcomm Snapdragon AR2 Gen 1 augmented reality (AR) platform for smart glass devices. The approach seeks to provide smart glass producers with a class-leading sequence of interconnected micro-form factor components. Compared to competitors, the new architecture will enable AR manufacturers to produce products with better processing power, cooler operating temperatures, and improved software integrations.
- TCL, a pioneer in display technology and premium smart experiences, will unveil the TCL RayNeo X2 augmented reality (AR) smart glasses at CES 2023. The groundbreaking glasses combine pioneering binocular full-color Micro-LED optical waveguide displays with various innovative interactive features to provide users with unmatched AR experiences.
- Corning Inc. has signed a collaboration agreement with Hyundai Mobis under which the former will provide Corning Curved Mirror Solutions, which will be used as a critical component in the latter’s Augmented Reality Head-Up Display system.
Prominent Players in the Smart Glass Market
- Schott Corporation
- Research Frontiers, Inc.
- SAGE Electrochromics, Inc.
- View, Inc.
- Asahi Glass Company Ltd.
- Hitachi Chemicals Co. Ltd.
- Polytronix, Inc.
- Smartglass International Ltd.
- Pleotint, LLC.
- RavenBrick LLC.
Related Reports in SkyQuest’s Library:
Global Vaccine Storage & Packaging Market
Global Bag In Box Container Market
Global Toothpaste Packaging Market
Global Recycled Plastic Market
About Us:
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
Address:
1 Apache Way, Westford, Massachusetts 01886
Phone:
USA (+1) 617-230-0741
Email: sales@skyquestt.com
