As building owners and managers seek ways to make their facilities more energy efficient, thereby lowering the costs of heating and cooling, the use of smart glass is expected to climb. According to a recent report from Pike Research, demand for smart glass, which will be 110,000 sq m in 2012, will reach nearly 3.1 million sq m in 2020. The annual value of the worldwide market will grow from $84 million today to nearly $700 million in 2020, the study concludes.

“While significant barriers stand in the way of the broader adoption of smart glass—chief among them reliability and price—the market potential for smart glass is high,” said Eric Bloom, senior research analyst. “As long-term performance is proven, prices decline, and substantial returns on investment are demonstrated, designers, engineers, and building managers will find expanding applications for these innovative materials.”

For additional information, visit www.navigant.com/pikeresearch.