Market Size of NA Smart Glass Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 14.30 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Smart Glass Market Analysis
The North American smart glass market is estimated to grow at a CAGR of 14.3% in the forecasted period (2021-2026). The smart glass market in the region has been gaining significant traction due to the surging demand for energy cost savings in high-end commercial offices and residential spaces. With a growing focus on sustainable development, an increasing number of people have been opting for user-controlled windows in buildings, due to which Smart glass manufacturers have been actively investing in research and development in the region to cut production costs by implementing newer technologies and low-cost raw materials.
In recent years, several offices, hotels, and residential homes have had smart glass installed in their premises. With more and more companies getting involved in the smart glass market in North America, the market has been heating up. Also, smart glass has been witnessing higher adoption in the Transportation industry. For instance, Boeing 787 Dreamliner uses smart glass so that the passengers and the in-flight crew can select the amount of sunlight coming through to their liking.
The construction industry holds the largest market share in the North American smart glass market, owing to the increasing demand for smart glasses in architecture and the improving real estate market in the region. Architects are increasingly using this type of glass to reduce the energy consumption of the building, due to which there have been increasing developments in the construction industry on smart glasses in the region.
The growing consciousness among individuals for the conservation of energy has gained a lot of impetus from a wide region of sources. Humans, for several centuries, have exploited non-renewable resources, which, in turn, has led to the depletion of these precious fossil fuels. This major concern helps the smart glass obtain a huge market for themselves, as they help save electricity without harming the environment or its resources.
However, one of the major growth restraints for the smart glass industry is its high expenses compared to normal glass. Additionally, lack of awareness of smart glass benefits and the existence of technical issues with the usage of large size smart glass are some of the key impediments hindering the growth of the market.
