APAC is considered to be the fastest growing economic region. The dominance of the region is majorly attributed to the presence of large numbers of leading smart glass manufacturers. Almost 60% of the world’s population lives in the Asia Pacific region, China and India being the most populated countries. More than 2 billion people live in the urban areas. Owing to these reasons, the density of buildings and infrastructural construction properties has reached to a new high in the region. Growing infrastructures and population have put pressures on the energy demands in the region, and therefore energy efficiency is one of the prime focus areas of Governments of respective countries in the APAC. Also, many of the cities in the region are technological hubs, where increasing number of companies are resulting in increasing infrastructural constructions. Owing to this, there has been rapid adoptions of innovative products such as smart glass in the recent infrastructural constructions. Thus, the smart glass market is anticipated to witness growth in the APAC region.
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The major companies offering smart glass market include AGC, INC., ArtRatio S.L., Compagnie de Saint-Gobain S.A., Corning Incorporated, GENTEX Corporation, Hitachi Chemical Co., Ltd., Pleotint LLC, Polytronix, Inc., Research Frontiers Incorporated, and Smartglass International Limited among others. Several other companies are also offering these smart glasses for various end-uses which is facilitating the market to propel over the years.
The number of new residential buildings or individual houses rose rapidly over the years in the developed as well as developing nations worldwide. The US infrastructure industry is set to continue relatively fair growth rate during the forecast period which is heavily supported by residential constructions. Similarly, Canada’s New Canada Building Plan is supporting the construction industry in the country and the same is expected to drive the industry in the coming years. The growing investments and initiatives in the residential and commercial construction in North American countries is influencing the glass manufacturers to increase their production. This factor is boosting the market demand for smart glass in the North American residential as well as commercial constructions. Construction in European countries is also increasing slowly, demanding improved building materials. European countries namely; Spain, Italy, and Turkey are experiencing demand for increased number of residential sectors as well as commercial spaces, thereby, catalyzing the demand for smart glass. The increased demand from the builders in the countries is propelling the production lines of glass windows and doors year on year in these countries, thereby, substantially driving the market.
The global market for smart glass market is segmented based on the parameters such as technology, application, and geography. Based on technology, Suspended Particle Device segment dominates the smart glass market heavily, and is expected to dominate the market in the forecast period from 2019 – 2027. On the basis of application, commercial segment led the market in 2018 with a maximum market share and is expected to continue its dominance during the forecast period. Key players operating in the market are introducing attractive solutions and are partnering with the small as well as large companies which are helping them to gain customer traction.
The report segments the global Smart Glass Market as follows:
Global Smart glass Market – By Technology
- Polymer Dispersed Liquid Crystal (PDLC)
- Suspended Particle Device (SPD)
Global Smart glass Market – By Application
- Power Generation
- Aerospace & Defense
Global Smart glass Market – By Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of APAC
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of MEA
- South America (SAM)
- Rest of SAM
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