Smart Glass is a groundbreaking building material that is made from electrochromic glass to create smart partitions, windows and skylights. The properties of these electrically switchable planes can be easily changed, when an electric current is applied. Smart glass is generally used in luxurious apartments and commercial buildings. Instant and precise privacy control, efficient use of space, and aesthetic looks are some of the salient features of the smart glass. Rising application of smart glass across various industry verticals will create the need for smart glass within the market. For instance, Avery Dennison Corporation has announced an investment in Israeli company Gauzy, a leading tech company working in smart glass technology in October 2017.
Smart Glass Market Determinants
Increasing demand for smart glass in automobile vehicles and reduction in the cost of electrochromic materials are major factors influencing the global smart glass market, positively. Further, efficient energy saving with smart glass application and application within various industry verticals would also driver the market in the upcoming years. For instance, Vistamatic, the pioneer in integral shading and privacy glass solutions, launched its new switchable privacy glass solution that enables privacy and discrete observation for healthcare, commercial and residential applications in June 2016. However, high cost of smart glass and performance reliability might hinder the market growth. High potential in solar power generation and Evolution of Eco-friendly & green buildings would offer lucrative opportunities for the market in coming years.
The global smart glass market is highly fragmented owing to numerous regional and international players. North America is one of the biggest markets for smart glass and the most competitive region for smart glass market. With emerging demands for developing regions, the market is expected to experience intense competition. New product launch is the most preferred technique adopted by market players to generate more revenue within the market. For instance, DoorDash, Inc. launched PrivacyVue, an impact-resistant fixed glazing system with switchable glass on January 2016.
Smart Glass MarketÂ Segmentation
â¢ Active Smart Glass
â¢ Passive Smart Glass
â¢ For Transportation
â¢ For Infrastructure Development
â¢ For Other Applications
â¢ North America
â¢ Rest of the World