Transparency Market Research (TMR) throws light on the major factors impacting the growth of the market, the key technologies, and major players in the market. It also elaborates on the areas wherein this technology has been implemented.
Q. What is the impact of the major drivers and inhibitors in the global smart glass and window market?
Smart glasses and windows provide passenger comfort and fuel efficiency within marine, aircraft, and automotive sectors. The increasing sales of luxury cars has emerged as a prime factor fuelling the demand for smart glasses in cars, thus boosting the market. Furthermore, the growing requirement for energy efficiency within buildings and the increasing energy crisis will also positively impact the development of the market.
The soaring demand from Asia Pacific and the expanding application areas of smart glasses and windows are the key growth opportunities in the market. On the other hand, the soaring cost of smart glasses is a major factor that may inhibit the development of this market in the developing regions, however, they are still bound to gain traction from the developed nations globally.
Q. Which technologies have emerged as the major investment pockets for the chief players and why?
In terms of technology, suspended particle device (SPD) currently holds the largest share in the market. This is owing to the fact that SPD smart windows prevent the creation of hazy appearances and inhibit light transmission by up to 99.5%. In addition, the rising per capita income and the growing proliferation of enterprise wearable devices globally has increased the adoption of this sophisticated technology in both transportation and construction sectors. Research Frontiers Inc. is the prime player in the SPD technology. This company holds a license list for more than forty companies, amongst which the top companies are Hitachi Chemical Co, Mercedes-Benz, DuPont, Polaroid, and Pilkington.
Q. What steps have been taken by some of the nations for regulating the adoption of smart glasses within electronic equipment?
The use of smart glasses and windows is the highest in the automotive sector. For instance, the suspended particles smart glass technology is gaining high traction within premium cars such as Mercedes Benz SLK, etc. However, governments in some of the nations have taken crucial steps for regulating the adoption of smart glasses owing to certain limitations of smart glasses. In the EU territories and the U.S., governments have planned on regulating the deployment of smart glass electronic equipment.
Similar orders have been implemented in the Department of Transport within the U.S., the EU territories, and the UK. For instance, the utilization of Google Glass may be banned within the UK owing to growing concerns related to reckless driving. In addition, certain automotive laws have also limited the application of glazes and tint on automotive windows for maintaining a particular degree of security on road.