Global smart glass market slated to grow at 20% CAGR through 2020
The global smart glass market is being driven by a shift in demand from passive to active smart glass technology coupled by factors such as growing applications in aviation, marine, and solar power, according to Technavio.
The firm adds that the global smart glass market is anticipated to see a CAGR of close to 20% through 2020, growing from $210 million (£160.6 million) in 2015 to $520 million (£397.6 million) by 2020.
Chandrakumar Badala Jaganathan, a lead analyst at Technavio for research on glass and ceramics, said: “The global smart glass market in the transportation sector is estimated to grow at a rapid pace because of the use of smart glass in various auto components by major global automobile manufacturers.
“With the increase in awareness about the benefits of smart glass over plain glass, both the automotive and aviation segments of the transportation sector are expected to increase their adoption of smart glass products.”
Jaganathan added: “The increase in glazing area in both residential and commercial buildings will be the major driving force for the use of smart glass products in the infrastructural development sector. Huge growth is estimated in the sector as more and more architects are suggesting smart glass-based designs to their customers.”
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