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Smart Glass in Automotive Market Segmented By technology such as Electro chromic glass, Suspended Particle Device (SPD) glass, Thermo chromic glass, Polymer dispersed liquid crystals glass and Photo chromatics glass in Laminated and Tempered glass type
A smart glass is a type of glass that modifies and controls the light properties passing through it as per the variation in the light intensity, fluctuation in voltage and heat variation. Initially the scope of the smart glasses was limited to only construction and architectural purposes but nowadays it has widen to aviation, rail, marine and automotive. Rapid research and development in this segment has attracted many private players and government agencies to invest in this technology.
Due to this reason the number of players offering smart glass to the automotive company has increased significantly in the recent years. Also the countries like China and India offer tremendous opportunity for automotive market growth, so smart glass manufacturers are trying to expand their business in these emerging economies.
There are wide applications of smart glass in any automotive that includes rear and side view mirror, sunroofs, windshield, backlights and sidelights so the smart glass in automotive has a healthy growth potential in the further future. Also there are safety regulations pertaining to the glass used in automotive these days and this leads to the increased usage of this smart glasses in order to be in line with the norms of a specific region.
The global smart glass in automotive market is anticipated to have a lucrative CAGR in the forecasted period.
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Increasing global automotive market and the essential glasses being deployed in these automotive is the key driving factor for the global smart glass in automotive market. Also automotive consumers are becoming aware about this technology and for their luxury and comfort they are implementing this technology in their vehicles that is bolstering the aftermarket of smart glass.
Also mandatory rules and regulations of some countries for the safety and security of the passengers is another factor forcing the vehicle owners to deploy smart glasses, thereby leading to growth of smart glass in automotive market. However, high cost associated with these smart glasses are making people to think twice before opting for this technology. Also in some developing regions vehicles users are not aware about this technology. Aforementioned factors might hamper global smart glass in automotive market growth.
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Geographically, the global smart glass in automotive market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). Western Europe is the leading region in the global smart glass in automotive market due to the deployment of essential smart glasses in the vehicles being manufactured especially in Germany.
Asia Pacific is the second major contributor in the global smart glass in automotive market due to presence of automobile giants such as Maruti Suzuki India Limited, Hero MotoCorp Ltd and other companies, which has led towards installation of smart glass in automobiles.
Companies such as General Motors Company, The Ford Motor Company are having a significant contribution in the North America, thus making it a considerable market in the global smart glass in automotive market. Japan is well established in the automotive market, so smart glasses are used on a large scale by the automobile manufacturers in this region. Latin America and Middle East and Africa are at a nascent stage in the global smart glass in automotive market but is anticipated to record modest growth during the forecast period.
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Some of the key players in the global smart glass in automotive market are as follows:
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