Portland, June 16, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global smart windows market generated $4.22 billion in 2019, and is estimated to reach $8.97 billion by 2026, registering a CAGR of 11.4% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.
Surge in demand for products developed using smart glass in the construction sector, strict government regulations to control risk-oriented incidents, and smart glass influencing automobiles industry drive the growth of the global smart windows market. However, lack of awareness on long-term benefits of smart windows may hinder the market growth. On the other hand, lowering prices of advance materials create new opportunities in the coming years.
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Covid-19 scenario:
- During the coronavirus pandemic, the demand for smart windows has been reduced due to the restriction on the operational activities for residential and commercial projects in construction industry.
- Manufacturing and sales of smart windows has been halted in most of the nations followed by the lockdown.
The report offers a detailed segmentation of the global smart windows market based on technology, type, application, and region.
Based on type, the OLED glass segment contributed to the largest share in 2019, accounting for more than two-third of the total share, and is estimated to maintain its dominant position during the forecast period. However, the self-repairing segment is expected to register the highest CAGR of 14.7% from 2019 to 2026.
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Based on application, the transport segment accounted for the largest share in 2019, holding nearly half of the total share, and is expected to maintain the largest share throughout the forecast period. However, the commercial segment is estimated to portray the highest CAGR of 14.0% during the forecast period.
Based on region, North America contributed the highest share, accounting for nearly one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Europe is expected to grow at the highest CAGR of 13.3% from 2019 to 2026.
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Leading market players analyzed in the research include Pleotint LLC., Research Frontiers Inc., SAGE Electrochromics, Inc., Gentex Corporation, Polytronix, Inc., ChromoGenics, Stellaris Corporation, Smart Windows Colorado, Innovative Glass Corporation, and View, Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.