Smart Glass Market by Technology, Application, Geography | COVID-19 Impact Analysis | MarketsandMarkets

1. Smart Glass Market Analysis with COVID-19 Impact - Global Forecast to 2025 The smart glass market size is expected to grow from USD 3.8 billion in 2020 to USD 6.8 billion by 2025, at a CAGR of 12.1% during the forecast period. The growth of the smart glass industry is driven by factors, such as the growing adoption of smart glass in automotive application and, declining prices for eletrochromic material.Other major driving factors for smart glass adoption include supportive government mandates and legislation on energy efficiency. Governing bodies of various countries are increasingly encouraging the use of these energy-efficient products. Smart glass has inherent energy-saving and auto-dimming properties, which reduce its maintenance cost. As a result, the perceived benefits of these glass products are more than the incurred investments. COVID-19 impact on the smart glass market COVID-19 has severely impacted the growth of the global smart glass industry. Global sales of smart glass for major applications such as architecture and automotive are expected to decline by 10–15% in this fiscal year, depending upon the progression of the virus in different parts of the world. The decline in the number of new construction projects and the temporary shutdown of manufacturing facilities are some of the factors hampering the growth of the smart glass market. However, the short-term supply chain disruptions are expected to affect market growth in key regions. COVID-19 has severely impacted the global automotive industry, wherein a number of automobile production facilities across the world have been shut down. Global automotive sales are expected to decline by 8– 10% in this fiscal year, depending upon the progression of the virus. Electrochromic technology segment to hold the largest share of the smart glass market during the forecast period The electrochromic smart glass technology dominated the smart glass market. The electrochromic technology has long been used in rearview mirrors across the automotive sector. With the recent advancements, it has also found applications in switchable windows, sunroofs, and so on. Though the electrochromic smart window technology is not used much in the architecture or building applications, it is expected to revolutionize the architecture sector in the coming years, accounting for a major share of the market by 2025. Commercial buildings (corporate and government) are expected to be early adopters of the electrochromic technology. Transportation application to hold the largest market size during the forecast period The transportation application is expected to be largest share of the smart glass market during forecast period, as many automobile manufacturers have been incorporating smart glass materials in their vehicle designs to benefit from its antiglare property, remote access capacity, and dynamic light emission adjustment properties. In transportation another major application area for smart glass are in the form of doors, windows, sunroofs, windshields, rearview mirrors, and skylights. Smart glasses help minimize heat generation, provide shading, limit the viewing scope, and offer privacy to users. Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=907 UK is expected to hold the largest market size during the forecast period UK is expected to lead the overall smart glass market in the coming years. Technological advancements and a recovering economy act as driving factors during the growth period. Rapidly increasing energy cost is likely to trigger the demand for energy-efficient products. The ability of smart glass to reduce the overall energy consumption of a building while offering attractive features such as on-demand privacy or glare-control is

2. expected to multiply its applications.In extreme weather conditions prevalent in several areas of Europe, smart glass offers a suitable solution for maintaining the internal temperature of buildings or vehicles, thus saving the overall energy costs. About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model –GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: 1-888-600-6441