According to the latest report by IMARC Group, titled "Asia Pacific Smart Windows Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the Asia Pacific smart windows market size is expected to grow at a CAGR of 16.96% during 2022-2027. Smart windows utilize specialty glass which can alter its light transmission properties when voltage, light, or heat is applied. It is combined with lighting and air conditioning control systems to ensure greater thermal and visual comfort for residents and achieve substantial energy savings. It can control the light entering a room based on weather conditions and user preferences. Various materials, such as micro-blinds, liquid crystals, and suspended particles, are used in developing these windows. Due to their efficiency in energy management, smart windows are gaining popularity for usage in houses, commercial spaces, and automobiles.
Asia Pacific Smart Windows Market Trends:
The Asia Pacific market is majorly driven by the increasing number of energy conservation initiatives undertaken by the governments of numerous countries. In line with this, the incorporation of smart windows with the Internet of Things (IoT) is creating a positive outlook for the market. Furthermore, major market players are focusing on developing smart windows with electrochromic technology that allows building owners and operators to save energy and reduce cooling, heating, and lighting costs. Apart from this, significant growth in the construction industry, coupled with the rising investments in infrastructural development projects, is catalyzing the market growth. Moreover, the widespread trend of large, floor-to-ceiling glass windows is propelling the product adoption. Besides this, the increasing restoration activities of various commercial and residential buildings are offering numerous growth opportunities as the current buildings lack energy-efficient infrastructure. Additionally, the rising demand for smart windows from the automotive and aviation industries is providing a boost to the market.
- On the basis of technology, the market has been segmented into suspended particle devices light modulator, polymer dispersed liquid crystal devices scanner, and electro chromic.
- Based on the type, the market has been categorized into OLED glass, self-dimming window, and self-repairing.
- Based on application, the market has been classified into residential, commercial, industrial, and transport.
- Based on the country, the market has been divided into China, Japan, India, South Korea, Australia, Indonesia, and others.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
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