Demand for Smart Glass Will Surpass 3 Million Square Meters Annually by 2020, Forecasts Pike Research
BOULDER, Colo.--(BUSINESS WIRE)-- As building owners and managers seek ways to make their facilities more energy efficient, thereby lowering the costs of heating and cooling, the use of smart glass - which has properties that can be varied to suit changing ambient conditions and the needs of users and occupants - is expected to climb. Smart glass applications rely on four main technologies: liquid crystal, electrochromic, suspended particle, and thermochromic materials. According to a recent report from Pike Research, a part of Navigant's Energy Practice, demand for smart glass, which will be 110,000 square meters in 2012, will reach nearly 3.1 million square meters in 2020.
The annual value of the worldwide market will grow from $84 million today to nearly $700 million in 2020, the study concludes.
"While significant barriers stand in the way of the broader adoption of smart glass - chief among them reliability and price - the market potential for smart glass is high," says senior research analyst Eric Bloom. "As long-term performance is proven, prices decline, and substantial returns on investment are demonstrated, designers, engineers, and building managers will find expanding applications for these innovative materials."
Various players in the smart glass industry have been undertaking research and development (R&D) activities for the past 25 years or more, and have reached limited scale production and market penetration over the past 10 years. However, R&D investment, product application, and production capacity have increased noticeably in the past 3 to 4 years, according to the report. The majority of this investment has gone toward new smart glass (film and glazing unit) production capacity. Overall, the industry is moving from small-scale batch processing to full-scale industrial production, principally in the architectural glass sector.
The report, "Smart Glass", provides an overview of the various smart glass technologies that are gaining traction in the marketplace and describes the applications best suited to smart glass in the buildings, automotive, aerospace, and marine sectors. Market drivers and barriers, and costs and benefits, of smart glass illustrate the challenges and growth prospects for this technology. Market forecasts are provided through 2020 for global demand and market value, segmented by the architectural and transportation sectors, along with a review of key industry players. An Executive Summary of the report is available for free download on the firm's website.
About Pike Research
Pike Research, which joined Navigant's global Energy Practice on July 1, 2012, provides in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Smart Glass," is a summary and reflects Pike Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
Worldwide demand for smart glass will surpass 3 million square meters annually by 2020, according to Pike Research.
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