(I-BusinessNews.Com, September 13, 2019 ) As per the latest report by IMARC Group, titled ÂSmart Window Market Research Report and Forecast 2019-2024Â, the global smart window market size is expanding at a robust rate. Smart windows are next-generation windows that regulate the amount of light entering a room, depending on the weather conditions and the preferences of the user. Currently, different technologies, such as micro-blinds, liquid crystal and suspended particles, are employed in the production of these windows. As compared to other alternatives like electric window shades, smart windows are considered more efficient for managing energy. Owing to these attributes, they are gaining traction for use in houses, commercial spaces and automobiles around the world.
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Global Smart Window Market Trends:
The opacity of smart windows can be changed from transparent to translucent, which helps in increasing the comfort level of the inhabitants, ensuring the best lighting conditions and enhancing the building energy efficiency by minimizing glare, lighting loads and HVAC energy use. A key trend witnessed in the market is the integration of the Internet of Things (IoT) with smart windows. This helps in providing users with improved configuring abilities and manageability. Moreover, manufacturers are financing research and development (R&D) activities for developing windows with electrochromic technology that helps to create carbon-neutral or zero energy buildings (ZEB). In line with this, products are also being developed using perovskites that turn dark during high temperature conditions and can harvest solar energy like PV cells. Looking forward, the market will expand at a CAGR of around 17% during 2019-2024.
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Market Breakup by Technology:
Based on the technology, the market has been segmented into suspended particle devices light modulator, polymer dispersed liquid crystal devices scanner and electro chromic. At present, suspended particle devices light modulator represents the most preferred technology worldwide.
Market Breakup by Type:
On the basis of the type, the market has been segregated into OLED glass, self-dimming window and self-repairing smart windows. Currently, self-dimming smart windows account for the majority of the total market share.
Market Breakup by Application:
The market has been divided on the basis of the application into residential, commercial, industrial and transport sectors. Amongst these, the transport sector exhibits a clear dominance in the market.
Market Breakup by Region:
Region-wise, North America represents the largest market. Other major markets include Europe, Asia Pacific, Latin America, and Middle East and Africa.
The competitive landscape of the market has been examined in the report. Some of the key players operating in the industry are Gentex Corporation, GlasNovations Ltd., Heliotrope Technologies, Inc., Pleotint LLC, Ravenbrick LLC, Research Frontiers Inc., SAGE Electrochromics, Inc., Scienstry, Stellaris Corp, Vista Window Co LLC., ChromoGenics AB, Diamond Glass Limited, EControl-Glas, Gesimat GmbH, Hitachi Chemical and Polytronix Inc.
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