The global #smart #glass #market size has grown exponentially from 2016 until now. This #growth is attributed to the different factors, as the long-term benefits associated with #energy #efficiency, but also thanks to the glass to transmit light and modulate heat depending on the external environment.
Always more industries around the world have started to adopt this new #technology.
The emergence of stringent regulations with respect to energy efficiency, increased #investments in the #manufacturing of smart glass coupled with the establishment of industrial-scale #production capacity, has significantly contributed towards market growth.
Growing consolidations between technology #providers and #suppliers are fueling the development of smart glass tailored as per a wide range of #application areas.
Reduction in energy consumption occurs due to the vibrant control of solar radiations and this leads to an increase in overall energy savings due to maximum utilization of daylight.
The North American and European regions are projected to emerge as the leading markets for liquid #crystal smart glass due to the increased emphasis on the usage of ‘#GreenEnergy’ resources.
The #transportation application segment captured a revenue share of over 45% in 2016. It is projected to emerge as the most lucrative #segment, owing to the surging #adoption of this technology by premium and medium-sized #car manufacturers.
The #construction sector is presumed to be a promising sector, owing to its higher growth rate with gradual investments in smart technology. A majority of high towers and skyscrapers in the Middle Eastern region have incorporated smart glass for exterior #structure #fabrication to reduce heat and light transmissions and maintain internal ambience.
The European Union territories and the U.S. governments are planning to regulate the adoption of smart glass-incorporated electronics equipment and have directed their transport departments toward the same. Moreover, the presence of key players in the region and the increasing #automotive production are aiding the market growth.