Apr 4, 2020

Smart Windows Market to Garner $8.97 Bn, Globally, by 2026 a

4 min
- Surge in demand for products manufactured using smart glass in the construction sector and its influence on the automo...

- Surge in demand for products manufactured using smart glass in the construction sector and its influence on the automobile industry have boosted the growth of the global smart windows market.

PORTLAND, Oregon, April 2, 2020 /PRNewswire/ --  Allied Market Research recently published a report, titled, "Smart Windows Market by Technology (Suspended Particle Device Light Modulator, Polymer Dispersed Liquid Crystal Devices Scanner, and Electro Chromic), Type (OLED Glass, Self-Dimming Window, and Self-Repairing), Application (Residential, Commercial, Industrial, and Transport): Global Opportunity Analysis and Industry Forecast, 2019-2026". According to the report, the global smart windows industry was pegged at $4.22 billion in 2019, and is projected to reach $8.97 billion by 2026, growing at a CAGR of 11.4% from 2019 to 2026.

Driving factors for the market

Surge in demand for products manufactured using smart glass in the construction sector and its influence on the automobile industry coupled with rigorous government regulations to control risk-oriented incidents have boosted the growth of the global smart windows market. However, lack of awareness on long-term benefits hampers the market growth. On the contrary, lowing prices of advance materials is expected to create lucrative opportunities in the near future.

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OLED glass segment dominated the market

By type, the OLED glass segment held the largest share in 2019, accounting for more than two-thirds of the market, owing to its various advantages over conventional display technologies such as being light in weight and its flexibility. However, the self-repairing segment is expected to register the highest CAGR of 14.7% during the forecast period, due to its application in harsh environments such as industrial, automotive, construction, and manufacturing.

Commercial segment to portray the fastest CAGR through 2026

The commercial segment is expected to manifest the fastest CAGR of 14.0% from 2019 to 2026, due to the high adoption of intelligent solutions in the commercial sector to operate automatically and conserve energy and reducing human efforts. However, the transport segment held the largest share in 2019, contributing to nearly half of the market. This is due to increase in demand for smart windows in commercial vehicles, trains, passenger vehicles.

North America region held the lion's share

The market across North America accounted for the largest share in 2019, holding nearly one-third of the total revenue. This is due to the presence of the largest residential and commercial sector that demands smart glass in their properties. However, the market across Europe is projected to portray the highest CAGR of 13.3% during the forecast period, as it is a multi-purpose building material and is widely used by architects, engineers, and designers.

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Major market players

  • Pleotint LLC
  • Research Frontiers Inc
  • SAGE Electrochromics, Inc
  • Gentex Corporation
  • Polytronix, Inc
  • ChromoGenics
  • Stellaris Corporation
  • Smart Windows Colorado
  • Innovative Glass Corporation
  • View, Inc.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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