The Smart Glass Windows Market has gone from strength to strength in the last number of years due to a number of factors. Recent research in America has shown that the market is set to be worth 5.81 Billion USD by 2020.
This is an industry that is constantly innovating and the emergence of new improved technologies is driving greater demand for these products. But what are the main drivers facilitating such growth in the Smart Glass Windows market?
1. Recovery of the construction sector
During the economic downturn the sharp decline in the construction sector resulted in a fall in demand for all construction related products including smart glass windows. However, recent improvements in the worldwide economy and the construction sector as a whole has seen an increased need and demand for smart glass windows products again. More and more commercial building projects are adopting smart glass technology for office buildings, hospitals and universities and this trend is only set to continue as recovery of the construction sector persists.
2. Increased regulation with regards to energy consumption
As buildings are responsible for 40% of energy consumption and 36% of CO2 emissions, regulation in this area has increased. Windows have always been associated as the least energy efficient building components. In fact studies have shown that 23% of energy for commercial buildings is lost through inefficient windows.
To counteract this energy loss, many industries have turned to smart glass windows to help them meet their obligations. In introducing this technology, property owners are enjoying financial savings too. The energy efficient smart glass windows serve to decrease costs such as lighting, heating and air conditioning.
3. The number of its applications continue to rise
As technological advancements have increased, so too has the number of applications of smart glass windows. In addition to featuring strongly in commercial design, smart glass windows are also now a prominent feature in residential buildings, automotive, aerospace and the marine industry.
The automotive industry uses this technology to reduce unwanted light and glare on passengers when they are driving. Numerous aircrafts use this technology to prevent cabin heat build-up and block UV radiation to protect interiors. Residential buildings use smart glass windows to reduce heating and cooling requirements or minimize glare in a TV room. Finally, the marine industry uses this technology to control the amount of heat, glare and light passing through windows, doors and portholes etc.
4. Relatively low cost
Technological advancements have also resulted in the steady decline of the costs of smart glass windows. As production methods become more streamlined and the cost of the various materials used decrease, the cost of smart glass windows is becoming far more affordable.
For more information on how smart glass windows can enhance your interior design, browse our previous projects or contact Smartglass International today! We provide professional advice to all our clients to develop custom-built smart glass solutions to meet your requirements.
Wherever you are in the world one of our team will be in touch to advise on the best smart glass solution for your needs.