According to the market research report “Global Smart Glass market 2012-2017, by technology (Thermochromics, Liquid Crystal (LC), Suspended Particle Display (SPD), Electrochromics, Photochromic), Applications (Architectural [Commercial, Residential], Transportation [Automotive, Rail, Aviation, Marine])” , the total Smart Glass market is expected to reach $3.83 billion by 2017 at a CAGR of 20.3% from 2012 to 2017.
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Reflective coatings, low emissivity glass, and gas-filled cavities have all been components of energy-efficient windows since decades but with the commercialization of smart glass technologies such as Electrochromic (EC) and Suspended Particle Display (SPD) among others, there is an increasing adoption of smart glass in both - residential and commercial construction. Smart glass is an essential product to add ‘green’ factor to the building. Smart glass and smart windows helps in achieving zero-energy goals. Energy efficiency, coupled with potential energy harvesting by incorporating PV cells in these glasses is most likely to make it as a key element of smart and green buildings. The green building is currently an enabler of the smart glass market and is most likely to continue driving the market in long run as well.
The Smart Glass market is a niche one that evolved from the flat glass market with the components of aesthetics and eco-friendliness attached to it. Moreover, smart glass shipments and thus, the revenue; have gained momentum in the last couple of years. The market is expected to grow exponentially in the next five years at a significant compounded annual growth. The demand for smart glass for architectural and transportation application is expected to be at its zenith during the period 2014-2017 owing to some dominant driving forces for the market growth.
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Amongst the various technologies involved in the Smart Glass market (like Photochromic, Electrochromic, Thermochromic, Suspended Particle Display (SPD) and Liquid Crystal (LC)), the suspended particle display technology is observed to be the most potential type of service with a share of approximately 53.39%. This is followed by liquid crystal and electrochromic technologies with market shares of 25.93% and 17.28% respectively. The future opportunities under the Smart Glass market are expected to be governed by the automotive and rail verticals that are expected to inflate the smart coatings and the smart window demand with a little contribution coming from the marine vertical.
The use of smart glass can save costs pertaining to heating, air-conditioning, and lighting and avoid the cost of installing and maintaining motorized light screens or blinds or curtains. When opaque, liquid crystal or electrochromic smart glass blocks most of the UV rays, thereby reducing fabric fading; for SPD-type smart glass, this is achieved when used in conjunction with low emissivity coatings. Critical aspects of smart glass include installation costs, the use of electricity, durability, as well as functional features such as the speed of control, possibilities for dimming, and the degree of transparency of the glass.
The market for Smart Glass is estimated to reach $3.8 billion in 2017 at a CAGR of 20.3% from 2012 to 2017. APAC is observed to grow at the highest rate. This is primarily due to the growthof awareness and inflating demand for eco-friendly building norms and mandates being levied in the developing nations like India, China and Japan.
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