DUBLIN, May 13, 2022 /PRNewswire/ — The “Smart Windows – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Windows in buildings and automobiles play an important role of providing the sense of space and enabling ingress and ventilation of air and light contributing to the overall health of the occupants. Windows have gained increasing importance in modern homes, in terms of security, safety and aesthetics . However, windows also represent a conduit heat exchange, raising or reducing interior temperatures of buildings and automobiles based on seasonal conditions leading to higher energy consumption in the form of heating and cooling. Glass windows allow the sun`s heat to enter the buildings thus Heating up the interiors. While blinds and curtains are used to prevent solar heat, they tend to disconnect occupants from the outside world. A smart window comes into play here as it reduces the solar heat gain while offering a transparent view to the outside. Smart windows have become an essential part of the latest and innovative smart home technology.
The global market for Smart Windows estimated at US$3.6 Billion in the year 2020, is projected to reach a revised size of US$6.8 Billion by 2026, growing at a CAGR of 11.3% over the analysis period. Suspended Particle Devices (SPD), one of the segments analyzed in the report, is projected to record a 9% CAGR and reach US$4.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Electrochromic segment is readjusted to a revised 16.4% CAGR for the next 7-year period.
The Smart Windows market in the US is estimated at US$1.2 Billion in the year 2021. Chinathe world`s second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2026 trailing a CAGR of 13.7%…