Smart Glass Market to Reach Nearly $700 Million a Year by 2020
Smart glass is a class of products used in windows, glass screens and partitions that dynamically provides glare, light, and heat control based on ambient conditions or manual controls. Also referred to as dimmable glass, switchable glass, or dynamic glass (or glazing), smart glass is used in a variety of applications, primarily in architecture and transportation.
Although several barriers stand in the way of the broader adoption of smart glass, the market potential is significant, according to a new report from Pike Research. Substantial new production capacity that is due to come online during 2013 will reduce production costs and help drive greater product adoption. The market value for architectural and transportation smart glass, which stands at $84 million today, is expected to grow to $693 million worldwide by 2020.
“High-performance buildings require a level of control over energy that many of today’s automation systems are only now starting to address,” said Eric Bloom, senior analyst. “Smart glass is an innovative technology that both provides building owners unprecedented control over solar heat gain and offers a visually impressive alternative to flat glass.”
Worldwide demand for smart glass will exceed 3 million square meters annually by 2020, Bloom said. While North America and Europe are forecast to lead the market in terms of overall revenue, growth will be especially strong in China, which continues to undergo a massive building boom. China alone represents half of the global market for flat glass; China, Japan and Southeast Asia constitute 62% of the flat glass market. This considerable potential is expected to lead to higher growth rates throughout Asia Pacific, particularly in China.
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