New report predicts smart glass market will approach $700 million by 2020
Substantial new production capacity due to come online in 2013 will reduce production costs and help drive greater product adoption of smart glass, according to a new report from Pike Research. The firm predicts the market value for architectural and transportation smart glass, which stands at $84 million today, will grow to $693 million worldwide by 2020. The report defines smart glass as dimmable glass, switchable glass, or dynamic glazing.
"High-performance buildings require a level of control over energy that many of today's automation systems are only now starting to address," said Eric Bloom, senior analyst, in a release. "Smart glass is an innovative technology that both provides building owners unprecedented control over solar heat gain and offers a visually impressive alternative to flat glass."
Worldwide demand for smart glass will exceed 3 million square meters annually by 2020, Bloom added. While North America and Europe are forecast to lead the market in terms of overall revenue, growth will be especially strong in China, which continues to undergo a massive building boom, according to Pike Research analysts.
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