Increasing Use of Smart Glass Market in Automotive Industry

HYDERABAD, TELANGANA, INDIA, September 19, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Smart Glass Market size is forecast to reach $6.5 billion by 2026, after growing at a CAGR of 12% during 2021-2026. Globally, the market for smart glass is gaining traction due to improved raw materials & technological advancement and the prospect of new applications across different industries. Rising demand for electrochromic, thermochromic, and photochromic glass due to its transmission properties will further drive the smart glass market growth. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Key takeaways:

1. The European region dominates the smart glass market due to the increasing usage and demand of smart glasses from the building and construction sectors.

2. Growing applications in the transport industry are producing a tremendous market growth for smart glass. Smart glasses mounted in cars are estimated to have UV protection and solar reduction to make the cabins of vehicles more comfortable.

3. Rising technological advancement and increasingly installing electrochromic windows owing to their security and luxury factors in airplanes are anticipated to boost the use of smart glass in the upcoming years.

4. Increasing use of other passive glasses due to their structure, such as thermochromic and photochromic glass to monitor the infrared light waves is also estimated to drive the smart glass market growth.

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Segmental Analysis:

1. Electrochromic technology held the largest share in the smart glass market in 2020 and is expected to grow at a CAGR of 6.2% during the forecast period.

2. Transportation sector held the largest share in the smart glass market in 2020 and is projected to grow at a CAGR of 9.5% during the forecast period 2021-2026.

3. Europe held the largest share with of more than 35% in the smart glass market in 2020. The demand for smart glass in the region is majorly driven by the growing demand for automotive and construction activities in emerging economies, like the U.K., Germany, and France.

4. According to the office for National Statistics, monthly construction production in Great Britain increased by a record of 23.5% in June 2020, significantly higher than the previous record monthly growth of 7.6% in May 2020.

Competitive Landscape:

The top 5 players in the Smart Glass industry are -

1. Saint Gobain

2. AGC Inc.

3. Research Fronteirs

4. Gentex Corporation

5. Smartglass International

Click on the following link to buy the Smart Glass Market Report:
https://www.industryarc.com/reports/request-quote?id=18876

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Related Reports:

A. Energy Efficient Glass Market
https://www.industryarc.com/Research/Energy-Efficient-Glass-Market-Research-500185

B. Advanced Glass Market
https://www.industryarc.com/Report/15105/advanced-glass-market.html

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