New FMI Report Explores Impact of COVID-19 Outbreak on Residential and Commercial Smart Glass Market
Residential and
commercial smart glass worth approximately US$ 15 billion will be sold by the end of 2028. Up from
the market value attained in 2018, the global sales of residential and
commercial smart glass are estimated to observe a substantial CAGR of over 15%
during 2018-2028.
According to a new
market study of Future Market Insights, the demand for residential and
commercial smart glass will remain on a constant high over the coming years.
The global residential and commercial smart glass market is currently receiving strong demand
from the commercial sector. However, it is more likely that the demand for
smart glass will gather momentum in the residential sector, in the near future.
The report attributes this demand growth to increasing initial interest of
buyers in residential and commercial smart glass, particularly for bungalows
and luxury apartments.
Energy Control &
Other Clean Technology Initiatives to Boost Residential & Commercial Smart
Glass Market Growth
Various initiatives
for the clean technology and mostly related to energy conservation and
sustainable use of energy is driving the customers to use different products
which would serve the purpose. Also, these initiatives are compelling
manufacturers of residential and commercial smart glass to invest heavily in
the development of versatile products compatible for efficient energy
consumption, besides basic functionalities of smart glass.
On the other side,
residential and commercial smart glass solutions incur heavy initial
expenditure that includes procurement as well as installation expenses. High
procurement and maintenance expenses will remain longstanding challenges
associated with the revenue growth of residential and commercial smart glass
market. Moreover, though most residential and commercial smart glass solutions
are dirt-proof and demand occasional cleaning, regular maintenance is required
to keep these integrated technologies bug-proof, which further demands
expensive regular maintenance. This is projected to have a restraining impact
on the overall adoption rate of residential and commercial smart glass
solutions.
Global Residential and
Commercial Smart Glass Market Forecast
As far as the
residential and commercial smart glass market is observed for indoor conference
room, office privacy protection, shower room and product projection
application, switchable PDLC (Polymer dispersed liquid crystals) residential
and commercial smart glass are used the most.
By region, North America is anticipated to dominate the global
residential and commercial smart glass market over the forecast period. North America residential and commercial smart glass
market, is expected to be followed by Europe residential and commercial smart glass due to the high
percentage of luxurious homes and other commercial building in the region.
In terms of growth
rate SEA & others of APAC has the highest CAGR in the residential and
commercial smart glass market, followed by China and Latin America residential and commercial smart glass
market, which also have a good growth rate compared to the other regions in the
market.
The market for the
residential and commercial smart glass market is segmented on the basis of
end-user, technology type and regions. The end–user segment in the residential
and commercial smart glass market is further divided into residential and
commercial segments. The residential segment is then further divided into smart
windows & doors, smart glass partitions, smart shower glass, and smart
glass walls. The commercial sector is further segmented into commercial
buildings, architectural use, automobiles, aircraft, marine, consumer
electronics and others.
As per the technology
type segment the residential and commercial smart glass market is segmented
into Electrochromic, Thermochromic, Photochromic, Suspended Particle Device,
and Liquid Crystal. The residential and commercial smart glass market is also
divided as per building type in the residential segment.
About Us
Future Market Insights
(FMI) is a leading market intelligence and consulting firm. We deliver
syndicated research reports, custom research reports and consulting services
which are personalized in nature. FMI delivers a complete packaged solution,
which combines current market intelligence, statistical anecdotes, technology
inputs, valuable growth insights and an aerial view of the competitive
framework and future market trends.
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Abhishek Budholiya
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T: +1-347-918-3531
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T (UK): +44(0)20-7692-8790
Sales: sales@futuremarketinsights.com
Abhishek Budholiya
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): +44(0)20-7692-8790
Sales: sales@futuremarketinsights.com
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