Slightly over half the market share in the global smart glass and window market is held by just three top players, finds a research study prepared by Transparency Market Research. The report adds that the leading company operating in the market named Research Frontiers Inc. accounted for a share of 19.2% in 2014.
It also uncovers that the global market for smart glass and window is highly competitive due to keen players trying to figure out increasing application areas. They are seen focusing hard on research and development to come up with improved technologies, keeping in mind the various specific needs of a vast pool of consumers. They are also banking upon mergers and acquisitions to take on the competition in the market.
The primary USP of smart glass and windows is their energy efficiency. This has led to their increasing uptake. Explains the lead study author, “Energy loss in traditional windows can result in almost about half the total energy consumption in residential buildings and offices.
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Another factor fuelling the global smart glass and windows market is the booming automotive sector that is manufacturing a rising number of technologically superior automobiles equipped with sophisticated features such as SPD-enabled smart glass for side and rear windows. Such type of glass has numerous, fast switching capabilities that lower unwanted light.
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