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.
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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