The latest report by IMARC Group, titled “Smart Window Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global smart window market reached a value of US$ 960 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 2,259.7 Million by 2027, exhibiting at a CAGR of 14.9% during 2022-2027.
Smart Window Market Overview:
Smart windows, also called switchable windows, refer to electronically powered windows that alter their optical power when exposed to light, heat, or voltage. They are usually manufactured using liquid crystals, electrochromic, and suspended particle glass. As compared to other alternatives, such as electric window shades, smart windows regulate the amount of light entering the room and thereby assist in reducing and conserving energy in buildings. Consequently, they are extensively utilized in various sectors, including industrial, residential, commercial, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Smart Window Market Trends:
The expanding construction industry is primarily driving the smart window market. Additionally, the widespread product adoption in commercial and residential complexes to process solar power while minimizing solar gain in summers and maximizing it in winters is further catalyzing the market growth. Besides this, the growing utilization of smart windows for regulating heat in vehicles and reducing eye strain caused by glares is acting as another significant growth-inducing factor.
Moreover, the launch of several favorable policies by government bodies across countries to promote the use of energy-efficient systems, on account of the increasing consumer environmental concerns, is also positively influencing the global market. Apart from this, the rising investments in R&D activities for developing product variants with electrochromic technology that aid in creating carbon-neutral or zero energy buildings (ZEB) are anticipated to fuel the smart window market over the forecasted period.
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The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Gentex Corporation
- Glasnovations Ltd.
- Heliotrope Technologies
- Ravenbrick LLC
- Research Frontiers Inc.
- SAGE Electrochromics, Inc.
- Vista Window Company
- Diamond Glass
- Hitachi Chemical
Key Market Segmentation Breakup by:
- Suspended Particle Devices Light Modulator
- Polymer Dispersed Liquid Crystal Devices Scanner
- Electro Chromic
- OLED Glass
- Self-Dimming Window
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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