The glass is shaped by the combination of lime, potash, and silica at the elevated temperature and to amend its characteristics, dissimilar items are added. Smart glass is the advanced equipment that has external motivational characteristics and exercises the concept of clean technology. Smart glass toggles its characteristic depending on the outside temperature. Smart glass toggles either manually or automatically to supervise the glare, the quantity of light and heat. Smart glass can be injured due to great exposure to the ultraviolet rays. In 2015, as per the report, global smart glass market was esteemed at over $2.1 Billion. In 2021, the market is anticipated to reach around $6.56 Billion and is likely to grow at a 19.0% CAGR rate from 2016 to 2021.
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The smart glass market can be divided based on application, technology, and region. Based on technology the global smart glass market is segmented as thermochromic, electrochromic, PDLC, and SPD. Among this, SPD has the highest significance. For instance, in 2015, SPD segment accounted for uppermost share for smart glass market due to rising demand and divergent properties such as protection from UV rays, power saving, ultimate working capacity, and high emission property that can change translucent to dark.
On the basis of applications, the global smart glass market is bifurcated as electronics, transportation, solar power generation, architecture, and other. Among these, transportation materialized as impending segment due to the important use of smart glass in windows, sunroofs, windshields, rear mirror, doors, and skylights. Smart glass is used to provide shading, confine viewing scope, and permit privacy. Rising consumer base and extremely urbanized automotive industry are behind the acceptance of smart glass in the transport sector. Area wise, North America, South America, Europe, Asia-Pacific, and the Middle East and Africa will be dominating the global smart glass market.
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Some of the major players in global smart glass market are Raven Brick LLC, Smart Glass International Ltd., Gentex Corp., Glass Apps, Research Frontiers, Inc., AGC Ltd, Pleotint LLC, SPD Control System Corporation, Hitachi Chemicals Co. Ltd, SAGE Electrochromics, SAGE Electrochromics, Scienstry Inc., View, Inc, and PPG Industries among others.