Global Smart Window Market Size and Forecast (2021-2027)| With Post Impact of Covid-19 by Top Leading Players Saint-Gobain Group (France), RavenWindow (US), PPG Industries, Inc. (US), LTI Smart Glass, Inc. (US), Kinestral Technologies, Inc. (US), Gentex Corporation (US).
SUMMERY:
Market Research Future published a research report on “Global Smart
Window Market Research Report- Global Forecast 2027” – Market Analysis, Scope,
Stake, Progress, Trends and Forecast to 2027.
Market Overview
Global Smart Window Market is expected to
reach USD 9,083.7 Million by 2025 at a CAGR of 17.8% during the forecast
period. Market Research Future (MRFR), in its report, envelops segmentation and
drivers to provide a better glimpse of the market in the coming years. Smart
window glasses are electronically controlled devices that allow users to
control the amount of light, glare, and heat passing through the window,
manually or automatically. Smart windows are usually based on technologies such
as electrochromic, polymer dispersed liquid crystal (PDLC), suspended particle
devices (SPD), and photochromic. These glasses are energy-efficient and have
low reflection, which reduces the glare. Smart windows are eco-friendly, made
of recyclable material, and help in controlling heat to maintain optimal
temperatures inside buildings and infrastructures.
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Key Players
The Key Players of the Global
Smart Window Market are Saint-Gobain Group (France),
RavenWindow (US), PPG Industries, Inc. (US), LTI Smart Glass, Inc. (US),
Kinestral Technologies, Inc. (US), Gentex Corporation (US), Merck KGaA
(Germany), Pleotint, LLC (US), E-Chromic Technologies, Inc. (US), ChromoGenics
AB (Sweden), AGC, Inc. ( Japan), Hitachi Chemical Co., Ltd (Japan), Nippon
Sheet Glass Co., Ltd (Japan), and Innovative Glass Corporation (US), among
others.
Segmentation
Global Smart Window Market has been segmented
Based on Technology, Application and Region.
Based on Technology, the smart window market
has been segmented into electrochromic technology, PDLC, SPD, and photochromic.
Among these, the SPD segment dominated the market in 2018, capturing nearly a
33% market share, whereas the electrochromic technology segment is expected to
register the highest CAGR during the forecast period. The electrochromic
technology segment was the fastest-growing market and is projected to register
the highest CAGR of 19.7% during the forecast period. Electrochromic technology
reflects light, reducing the need for air conditioning (AC) systems, which
indirectly lowers the heavy cost of installing AC systems as well as the
day-to-day costs associated with their maintenance. PDLC technology is mostly
used for interior and exterior windows. It switches the transparency property
of glass from clear to opaque in less than a second. PDLC technology is
available in a self-adhesive switchable film that can be applied to existing
windows and laminated smart windows and provides high privacy owing to its
opaque state Suspended particle devices or SPD glasses enable users to
instantly control the dimming properties of their windows. This technology
provides instant and precise light control. It has an exceptional optical
feature that reduces glare and eye strain. Photochromic technology is used in
transitional lenses. Photochromic technology lenses are cost-effective and
convenient for use.
Based on the application, the market has been
classified into architectural and construction, transportation, automotive,
aircraft, marine, consumer goods, and power generation. The architectural &
construction segment accounted for the largest market share. The automotive
segment was the fastest-growing market and is projected to register the highest
CAGR during the forecast period. In architectural and construction
applications, this technology is widely used in green construction. This
technology has enabled smart-window users to save nearly 25% in heating,
ventilation, and air conditioning (HVAC) costs. In transportation applications,
smart windows are used in aircraft to avoid environmental disturbances such as
glare, heat, and noise. In automotive applications, smart windows help in heat
reduction inside the vehicle up to a temperature of 18ºF/10ºC, protect from
ultraviolet rays, and provide glare control and noise reduction. By using smart
windows, passengers and flight crews can regulate the amount of light entering
the cabin. Smart windows preserve the view, reduce unwanted beams of light, and
adjust the optimum amount of healthy daylight for the passengers’ wellbeing. In
marine applications, on-site maintenance engineers can capture pictures and
videos and save them on the internal memory with the help of smart glass
panels. The captured files can also be sent for analysis. Smart glass can be
used for a multitude of consumer products including, sunroofs, visors, mirrors,
ski goggles, AR glasses, mirror glass panels, blackout smart window-projection
screens, and intelligent windows and flat panel displays for computers. Smart
windows are used for reducing power consumption in corporate offices, shopping
malls, retail stores, museums, and residential buildings. Smart windows reduce
the need for artificial interior lighting by adjusting the amount of sunlight
and reducing the impact of UV rays, keeping the room cooler.
The global smart
window market, by region, has been segmented into
North America, Europe, Asia-Pacific, and the rest of the World. North America
accounted for the largest market value of USD 844.1 million in 2017; the market
is expected to register a CAGR of 19.6% during the forecast period. However,
the market in Asia-Pacific is expected to register the highest CAGR of 21.8%.
Regional Analysis
By region, the global mobile printer market
covers the growth opportunities and recent trends across Europe, North America,
the Asia Pacific (APAC), & the Middle East and Africa (MEA). Of these,
North America will spearhead the market over the forecast period. Advancements
in wireless technology, growing adoption of cloud storage technology and cloud
computing by enterprises, digitalization, sophisticated network infrastructure,
higher technology implementation, presence of key players in the region,
advances in wireless technology, and high adoption rate in different industry
verticals are adding to the global mobile printer market growth in the region.
The global mobile printer market in Europe is
predicted to have the second-largest share over the forecast period for the
constant investments in research and development.
The global mobile printer market in the APAC
region is predicted to have healthy growth over the forecast period. The
booming e-commerce industry, an extension of the logistics and retail industry,
and improving IT landscape are adding to the global mobile printer market
growth in the region.
The global mobile printer market in the MEA is
predicted to have steady growth over the forecast period.
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