Patent Activity Surging in Smart Glass Technology
According to “Global Markets and Technologies for Smart Glass,” a recent report from BCC Research, the global market for smart glass-based products increased from nearly $1.8 billion in 2013 to $1.9 billion in 2014. This market is estimated to be valued at nearly $2.1 billion in 2015 and $3.3 billion by 2020, with a compound annual growth rate (CAGR) of 9.4% from 2015 to 2020.
Interest in smart glass technology has soared since 2010, as evidenced by a five-year CAGR of 23.9% for the number of global patent applications and patents issued (PAI). Transportation and aerospace, the largest and fastest-growing sector of the market, should reach $1.9 billion and $3 billion in 2015 and 2020, respectively, with a CAGR of 9.6%.
Smart glass, which is characterized by its ability to change opacity and/or color when a voltage is applied, is exploited in numerous applications ranging from residential and commercial construction and architectural projects to interior design, as well as museum artwork expositions, high-end appliances, advanced displays, automotive mirrors, and privacy glass. Since 2012, global economic conditions have improved, smart glass fabrication processes have evolved and several new applications have been developed, all inspiring vigorous patent activity within the industry.
“Companies and research organizations are very active in developing innovative chromogenic materials, researching improved fabrication processes for smart glass devices, devising equipment and control systems for their production and correct utilization, and developing new applications,” said Margareth Gagliardi, BCC research analyst. “During the past 40 years, the number of applications and issued patents increased significantly, reaching a peak in 2013, with 781 patents applied for or issued. In fact, the number of patents per month has increased at a CAGR of 12.9% from 2012 through 2014, indicating that interest in smart glass technology is expanding at a very robust rate.”
Additional details are available at www.bccresearch.com.