Slightly over half the market share in the global smart glass and window market
is held by just three top players, finds a research study prepared by
Transparency Market Research. The report adds that the leading company
operating in the market named Research Frontiers Inc. accounted for a
share of 19.2% in 2014. Some of the other noteworthy companies competing
in the market profiled by in the report are Saint Gobain S.A., View
Inc., Asahi Glass Co., Ltd., Pleotint Llc, Hitachi Chemicals Co., Ltd.,
and PPG Industries Inc.
It also uncovers that the global market
for smart glass and window is highly competitive due to keen players
trying to figure out increasing application areas. They are seen
focusing hard on research and development to come up with improved
technologies, keeping in mind the various specific needs of a vast pool
of consumers. They are also banking upon mergers and acquisitions to
take on the competition in the market.
The TMR research study states that the
market for smart glass and window will rise at an impressive 14.7% CAGR
from 2015 to 2021 to clock a value of US$6.07 bn by 2021-end from US$2.2
bn in 2014.
Smart glass and window find application
in construction, marine, automotive, and aircraft. Among them, the
flourishing automotive segment led the market with a share of 46.6% in
2014.
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Geographically, Asia Pacific, North
America, Europe, and the Rest of the World are some of the main segments
of the global market for smart glass and window that have been studied
in the report. As per it, North America leads the market with maximum
share – in 2014 it came to around 31.8%. The market in the region has
been majorly boosted by government regulations pertaining to energy
conservation and reduction in carbon footprints, and the resultant
demand for energy-efficient products. Constant technological progress
which are being incorporated every now and then to the products is also
positively influencing the market. The U.S. is at the forefront of
driving demand in the region.
Energy Efficiency of Smart Glass Drives their Demand
The primary USP of smart glass and
windows is their energy efficiency. This has led to their increasing
uptake. Explains the lead study author, “Energy loss in traditional
windows can result in almost about half the total energy consumption in
residential buildings and offices. However, low emissivity glass and
multi-layer glazing are effective solutions for such energy wastage.
Such benefits are driving up demand for smart glass and windows,” says a
lead TMR analyst.
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