This market research report includes a detailed segmentation of the global smart windows market by product type (electrically activated and environmentally activated). The key vendors analyzed in this report are RavenBrick, Research Frontiers, SAGE Electrochromics, and View.
Technavio’s market research analysts estimate the global smart windows market, to grow at a CAGR of around 21% between 2016 and 2020. Growing focus towards energy-efficient buildings has boosted the demand for smart windows, which offer several advantages over conventional windows. Smart windows help in controlling the amount of sunlight and heat entering the building, and protect the occupants and furniture from the UV rays.
The new market research report from Technavio provides a breakdown and analysis of the smart windows segments by technology.
“Of late, smart windows are increasingly being used in bathrooms, as they can instantly switch between different privacy settings in a bathroom based on individual requirements. These windows assist in uninterrupted flow of natural light in the bathrooms, thereby conserving energy during the daytime. Also, they keep the bathrooms warm during winters by controlling and monitoring the heat,” says Soumya Mutsuddi, Lead Analyst, Heavy Industry, Technavio Research.
Electrically activated smart windows are expected to hold a larger market share during the forecast period as they are easy to operate and can control the amount of heat and light entering the building. Unlike environmentally activated windows, the degree of existing sunlight has no impact on the functioning of electrically activated smart windows, thereby, making them a more practical choice among users.
The key vendors in the global smart windows market include RavenBrick, Research Frontiers, SAGE Electrochromics, and View. The market is at a nascent stage and will offer vendors many opportunities for growth during the forecast period. Increasing awareness about the advantages of smart windows is helping the market to grow. This is also promoting competition in the market and encouraging new players to enter the market. Manufacturers are concentrating on product innovation to improve their market shares.
A more detailed analysis is available in the Technavio report, Global Smart Windows Market 2016-2020.
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