According to the latest report by IMARC Group, titled “Europe Smart Windows Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the Europe smart windows market is expected to exhibit a CAGR of 13.8% during 2023-2028. Smart windows refer to switchable windows made with light transmission properties that adjust their optical power based on their exposure to light, heat, or voltage. The translucency or transparency of these materials usually changes when electricity, light, or heat is applied. They are generally constructed out of electrochromic, liquid crystal, or suspended particle glass that allows them to be climate-adaptive while saving money on heating, air conditioning, and lighting while avoiding the installation and maintenance of manual light screens, blinds, and curtains. By regulating the amount of light entering a room, smart windows reduce energy consumption in buildings and conserve energy.
Europe Smart Windows Market Trends:
The market in Europe is majorly driven by rapid urbanization, along with an enhanced focus on sustainable development. This can be attributed to a considerable rise in construction activities and the growing popularity of smart buildings across the country. The widespread trend of integrating electronic components, such as sensors for transforming auto and architectural windows into displays of infotainment content, is also impacting the market positively. Moreover, the increasing demand for smart windows in the transportation sector is creating a positive market outlook. The market is further propelled by the implementation of favorable government policies promoting the use of energy-efficient heating, cooling and lighting solutions in a wide range of end-use industries. Some of the other factors contributing to the market include continual technological improvements in smart glass technologies, the increasing awareness regarding energy conservation, a continual decline in the prices of electrochromic materials, and extensive research and development (R&D) activities conducted by key players.
- Based on the technology, the market has been segmented into suspended particle devices light modulator, polymer dispersed liquid crystal devices scanner, and electro chromic.
- On the basis of the type, the market has been divided into OLED glass, self-dimming window, and self-repairing.
- Based on the application, the market has been categorized into residential, commercial, industrial, and transport.
- On the geographical front, the market has been segregated into Germany, France, the United Kingdom, Italy, Spain, and others.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.
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