Architecture and Automobile Industry Propel Global Smart Glass Market to $15.1 Billion by 2030

The market accounted for $4.62 billion in 2020 and is predicted to grow at a CAGR of 12.6% during the 2021-2030 period.

PORTLAND, OREGON, UNITED STATES, November 23, 2023 /EINPresswire.com/ -- Allied Market Research has recently published a comprehensive report titled "Smart Glass Market," offering insights into the technological landscape and market trends. The report covers various technologies such as Thermochromic, Photochromic, Electrochromic, Suspended Particle Device (SPD), Polymer Disperse Liquid Crystal (PDLC), and others. Furthermore, it delves into end-user industries like Transportation, Construction, Power Generation, and others.

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Market Overview: The global smart glass industry, valued at $4.62 billion in 2020, is anticipated to reach $15.1 billion by 2030, showcasing a robust CAGR of 12.6% during the forecast period.

Key Growth Drivers:

The increasing demand for smart glass in the building and construction sector and the automobile manufacturing industry is identified as the primary growth driver.
Despite the potential hurdle of high costs associated with smart glass, its rising utilization in various industries, including renewable energy, is creating numerous investment opportunities.
Segment Insights:

Suspended Particle Devices (SPD) Dominance: The SPD segment held the largest market share in 2020, constituting around one-third of the total share. The popularity of SPD-based smart glasses, known for their ability to control light, glare, and heat, is a significant contributor to this growth.

Flourishing Construction Segment: In terms of industry segmentation, construction dominated the market in 2020, accounting for nearly half of the total market revenue. The surge in construction activities globally, driven by population growth, has increased the demand for energy-efficient smart glass solutions.

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Regional Growth Outlook:

Europe Leading the Way: Europe, followed by North America, held the largest market share in 2020, with approximately one-third of the total market revenue. The adoption of smart glass in modern architectural designs has fueled market growth.

Asia-Pacific's Rapid Growth: The Asia-Pacific region is predicted to be the fastest-growing, with a remarkable CAGR of 14.1% during the analysis period. Increased adoption of smart glass across industries like construction, automotive, and aerospace is driving this growth.

Key Market Players:

Asahi Glass Co. Ltd
Halio Inc.
Research Frontiers Inc.
ChromoGenics
Pleotint LLC
Saint Gobain
Gauzy Ltd and Entities
Ravenbrick LLC
Showa Denko Materials Co. Ltd.
Gentex Corporation

Procure Complete Report: https://bit.ly/3QLbcBd

This report serves as a valuable resource for industry stakeholders, providing key insights to shape future strategies and enhance market positions. If you have further inquiries or require additional assistance, feel free to reach out!

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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Allied Market Research
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