SMART GLASS MARKET ANALYSIS

Market Challenges And Opportunities

Global Smart Glass Market Drivers:

Growing demand for smart glass based products to propel market growth

A number of innovative technologies have been introduced to the market that are facilitating the growth of the Smart Glass Market. These include polymer dispersed liquid crystal (PDLC) smart glass, suspended particle display (SPD) smart glass, electrochromic glass, photochromic smart glass, thermochromic smart glass, and microblind smart glass. These technological advancements have enabled manufacturers to offer a wide range of smart glass products that can be controlled using remote or switchers. These products are highly functional and offer a great deal of convenience to users. Moreover, these products are cost-effective and easy to install.

Increasing adoption in transportation sector to augment market growth

Smart glass in the automotive & transportation sector is anticipated to witness strong growth over the study period due to increased R&D activities and use of smart glass in premium vehicles, owing to its potential to provide significant energy-efficiency, light & heat control, privacy, automated shading, and design innovation. Increased adoption of solar-powered heating & cooling systems in aircrafts and fighter jets to lower operational costs, as well as smart glass applications on cruise ships’ interior barriers are also anticipated to drive the market.

Global Smart Glass Market Opportunities:

Increasing energy concerns and a growing awareness about the environment are expected to provide lucrative growth opportunities for smart glass market. Moreover, the market is gaining traction due to the presence of government programs for green buildings and eco-friendly structures. The demand for smart glass is expected to grow at a fast rate during the forecast period. It helps reduce heating, ventilation, and air conditioning (HVAC) equipment costs, and it also improves indoor environmental quality. It also helps prevent glare and increases safety by allowing drivers to take their eyes off the road. The technology can also be used to display text messages, warning signs, and other content on the front windscreen.

Increasing applications of smart glass in electronic devices, such as smartphones and televisions, are likely to offer bright market opportunities for smart glass market. Moreover, the increased R&D activities and growing awareness about renewable energy sources are expected to fuel the usage of these glasses in solar-powered panels.

Global Smart Glass Market Restraints:

High price of smart glass to hamper market growth

One of the most notable disadvantages of smart glass is that it can be quite expensive. The price of smart glasses has gone up over the years and some models are incredibly overpriced. There are also many concerns about privacy and security issues. These are some of the most common drawbacks associated with this technology, but it has some great advantages too.

Lack of awareness to restrict its adoption   

Lack of awareness regarding benefits of smart glass especially across underdeveloped and developing countries are expected to limit its adoption. This factor is expected to hamper the market growth over the forecast period.