The smart glass market is expected to reach USD 5.81 billion by 2020, at a CAGR of 19.5% between 2015 and 2020. Global energy demand continues to grow despite the historical high prices and mounting concerns over the energy security Improving the energy efficiency of homes, businesses, schools, government buildings, and industries is imperative and inevitable to address the energy supply and demand. Switching to smart windows makes a huge difference in the overall energy consumption. Smart windows are made of smart glass regulate the amount of light passing through them depending on the time of the day. As a result, these windows with smart glass can switch from being translucent to transparent without consuming a large amount of energy. Optimal energy saving is driving the smart glass market. According to the U.S. Department of Energy, by using smart glass, the energy consumption can be reduced by almost 40%. This energy saving property of the smart glass is a driving force for the smart glass market. Smart glass is ideal for automobile, aviation, and any other transportation applications where heat and glare control are desired. In the automotive sector, smart glass is used in applications such as rear view mirrors, windows, sun roofs, and windshields. Smart glass provides protection from harmful UV rays, glare protection, and helps to control heat inside the vehicle and saves energy. Europe is the largest market for smart glass as it is the manufacturing hub for premium automobiles. Manufacturers such as Mercedes, BMW, and Audi have partnered with smart glass licensee-Reseach Frontiers, Inc. (U.S.)-to use its innoavtive smart glass for enhancing the performance and aesthetic value of its automobiles. The APAC region is expected to grow the highest in the automotive application of smart glass during the forecast period. Asahi Glass Company in March 2014 launched its smart window named WONDERLITE being used in Japanese test rail which uses the SPD technology licensed by Research Frontiers Inc. Recently, Ford partnered with Research Frontiers to use its SPD technology for their electronically dimmable sunroofs. In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. For more information please click on: www.researchandmarkets.com/publication/m26xo5o/smart_glass_market_by
