Smart glass or switchable glass is a glass or glazing whose light transmission properties are altered when voltage, light or heat is applied. They are used usually in doors, windows, partitions and skylights in residential as well as commercial buildings. They help in reducing cost of heating, air conditioning and lighting. The global smart glass market will reach 9.17 billion USD by 2025 from 3.46 billion USD in 2018 with a CAGR of 14.94% during the period.
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Growth by Region
North America will dominate the market due to increase in the use of smart security systems, smart bulb lights, network cameras and multi room audio system. Asia – Pacific will grow at higher rate owing to development in automotive industries in developing countries like India and China.
Drivers vs Constraints
Advancements in transportation sector have led to the adoption of smart glass windows, which is driving the growth of the market. Increasing demand for smart glasses in automobile and aviation industries is also driving the market growth. However, lack of awareness regarding smart glasses and high cost of smart glasses are hampering the growth of the market.
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Industry Trends and Updates
Asahi Glass acquired shares of Vinythai Public Company Limited and converted it into a subsidiary.
Asahi Glass and Toyota jointly developed Enhanced Double Skin System energy saving technology, for showroom glass structure.
Report Description: https://www.trendsmarketresearch.com/report/analysis/MBC/smart-glass-market