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The growth of the market is attributed to the increasing demand for smart glass across the automobile industry and declining prices of electrochemical materials

VANCOUVER, BC, CANADA, March 14, 2022 /EINPresswire.com/ -- ​​​​​​​The global Smart Glass Market is projected to reach USD 13.19 billion by 2027, according to a recent report by Emergen Research. Renewed confidence of consumers within the economy coupled with greater spending boosted the sales of light-and heavy-duty vehicles. The demand for automotive glass is driven by several factors. The replacement volume of glasses is likely to grow with rise in the total vehicle population and kilometers driven. Adverse road conditions with difficult weather is likely to stimulate the demand for automotive glass replacement. However, buyers tend to defer from fixing minor injury to a windscreen till a vehicle is held up for sale or scrutiny. Therefore, sales of recent vehicles, turnover of used vehicles, and laws for vehicle scrutiny influence the demand for smart glasses in the automotive sector on a global scale.

While the smart glass technology was introduced to the market almost a decade back, it's solely within the last few years that makers have secured the funding and support necessary to initiate mass production. With the introduction of volume production units, makers are likely to attain scalability, which, in turn, can lower the price. With the increasing volume of production, the price of smart glass is anticipated to lessen by around 35-42%.

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Market Scope:

One of the report’s central components is the broad Smart Glass market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report.

Some major players in the global market include

Gentex Corporation, AGC Inc., NSG Group, Saint-Gobain, View Inc., AGP Americas, Smartglass International, Polytronix, Hitachi Chemicals, SPD Control Systems, Innovative Glass Corp, Fuyao Glass, TaiwanGlass Group and Central Glass. among others.

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The global Smart Glass market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Smart Glass market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Smart Glass market.

Emergen Research has segmented into the global Smart Glasses Market on the technology, application and region:

Technology Outlook (Revenue, USD Billion; 2017-2027)

Electrochromic

PDLC

SPD

Thermochromic

Photochromic

Application Outlook (Revenue, USD Billion; 2017-2027)

Architectural

Transportation

Consumer Electronics

Power Generation

Others

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Key Highlights from the Report

In November 2018, View Dynamic Glass, a US-based smart glass company, received one of the biggest VC investments of USD 1.1 billion from SoftBank Vision Fund. This is to manufacture “dynamic” glass windows that can change the tint to let in the right amount of natural light without obstructing views.

The electrochromic smart glass technology dominated the market in 2019. The electrochromic technology has been utilized in rearview mirrors across the automotive sector. With the recent advancements, it is additionally found suitable for windows as well as sunroofs.

Although the electrochromic smart window technology isn't used in abundance within the design or building applications, it's expected to revolutionize the design sector in the upcoming years, accounting for a prominent share of the market by 2025. Commercial building especially corporate and government bodies are expected to be early adopters of the electrochromic technology.

Detailed Regional Analysis covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Answered in the Report:

What will be the estimated growth rate of the Smart Glass market by 2027?

Who are the prominent distributors, vendors, and manufacturers of the market?

What are the driving and restraining factors of the growth of the Smart Glass market throughout the forecast period?

What are the current and future market trends of the Smart Glass market?

What are the sales and price analysis of the product by types, applications, and regions?

What are the expected opportunities for the companies and new entrants in the coming years?

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Thank you for reading our report. Please get in touch with us if you have any queries regarding the report or its customization. Our team will ensure the report is best suited to your needs.

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