The global smart glass market size is projected to reach USD 15,788.0 million by the end of 2027. The increasing investments in the research and development of low cost and efficient products will bode well for market growth. The increasing integration of these glasses in the aerospace industry will have a positive impact on market growth. According to a report published by Fortune Business Insights, titled
Decrease in Product Demand during the Covid-19 Pandemic will have a Negative Impact on SMEs
The recent coronavirus outbreak has had a drastic impact on several industries across the world. With shutdowns in manufacturing units and production houses, the coronavirus outbreak has hampered the economic conditions of most businesses that come under the small and medium enterprise (SME) bracket. The decreasing in demand for these glasses in industrial sectors will have a negative impact on the smart glass market. Having said that, the constant demand for smart homes and the increasing integration of these glasses in smart homes, will provide a platform for growth in an otherwise stagnant market.
Company Mergers and Acquisitions are an Increasing Trend Among Major Companies across the World
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the massive potential held by smart glass across the world, there have been several company mergers and acquisitions in recent times. Due to healthy market competition, large scale companies are looking to acquire start-ups as well as SMEs. In 2020, Smartglass International announced that has forged a partnership with V-stream. The latter is an Ireland-based company and focuses on tech-innovations. Through this collaboration, the companies will look to implement the multi-panel floor-to-ceiling privacy smart glass, specifically for Dell offices in Ireland. Given the massive demand for these glasses in Europe, this collaboration will influence other companies in this sector. The report highlights a few other company mergers of recent times and discusses their impact on the global smart glass market.
Europe Holds the Highest Market Share; Increasing Product Use in Architectural Design will Emerge in Favor of Market Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Europe is projected to emerge dominant in the coming years. The rising demand and adoption of these glasses in architectural designs and interiors will have a huge impact on the growth of the regional market. Moreover, the efforts put in to integrate smart glasses in renovations and retrofitting of old infrastructures will also contribute to the growth of the regional market. As of 2019, the market in Europe was worth USD 1,994.7 million and this value is projected to rise at a considerable pace in the coming years.
List of companies profiled in the report:
- Saint-Gobain (France)
- View, Inc. (U.S.)
- GENTEX Corporation (U.S.)
- Polytronix, Inc. (U.S.)
- Smartglass International Limited (Ireland)
- Glass Apps (U.S.)
- Scienstry, Inc. (U.S.)
- AGC Inc. (Japan)
- Research Frontiers (U.S.)
- Essex Safety Glass (UK)
- Gauzy Ltd and Entities (Israel)
- BSG Glass (Thailand)
- Asahi India Glass Ltd. (India)
- Schott AG (Germany)
- Central Glass Co., Ltd. (Japan)
- Pleotint LLC (U.S.)
- SPD Control Systems Corporation (U.S.)
- Other key players
Information Source: https://www.fortunebusinessinsights.com/smart-glass-market-102569
