Smart Glass and Smart Window Market Size Growing at 14.3% to Reach $6.9 billion by 2022
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Increasing demand for smart glass based products in construction buildings is driving the growth of smart glass and smart window market exponentially since, the smart glass incorporated in such buildings have long term benefits and also the quality to entice the users. Though the application of smart glass is also used in aircraft and marine sectors but the growth is moving with pace. However, automotive sector is competing with construction buildings by generating the highest revenue for smart glass market. The global market is expected to garner $6.9 Billion by 2022, registering a CAGR of 14.3% during the period 2016 – 2022
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The significant impacting factors of smart glass and smart window market include surging demand for smart glass based products in construction sector, stringent government regulations to control risk-oriented incidents and smart glass compensating artificial expenditure. Along with these factors, the market is also influenced by the new advancements in the technology. The above-mentioned factors collectively created opportunities for the market growth while factor such as high price of smart glass limiting the usage and lack of awareness on long-term benefits are posing limitations in the market. However, each factor would have its definite impact on the market during the forecast period.
Active glasses accounted for the highest shar....