A forecast from Navigant Research estimates that the annual value of the smart glass market is forecast to reach almost USD 890 million by 2022. The worldwide effort to shift towards improved energy efficiency, and improving the efficiency of windows is a big part of this.
The annual value of the smart glass market is forecast to reach almost USD 890 million by 2022. Navigant Research is convinced that this industry will grow from its current size of USD 88 million a year to USD 899 million a year by 2022. There is a worldwide effort to shift towards improved energy efficiency, and improving the efficiency of windows is a big part of this, so maybe this could happen.
These advanced windows, however, are expensive. According to Navigant Research, they cost twice as much as high-performance glazing windows (multiple-pane windows).
Other barriers to smart glass adoption include aesthetic dilemmas, longevity, durability, glazing unit size, and other issues associated with integrating it into existing building energy management systems.
As is the case with many new technologies, these windows can and probably will be used for certain applications in which they are most beneficial, such as strategically placing the smart glass on certain building elevations. They can save money on heating, air conditioning, and lighting, but high upfront cost is expected to remain a limiting factor throughout the forecast period.
The demand for this glass may also grow due to a trend towards the use of more glass on buildings. Conventional glass allows plenty of sunlight into buildings during summer, and that heats them up, driving up air conditioning electricity costs. In this age, more and more buildings are covered with glass from roof to floor. Some of them have outer walls which are mostly glass, with only support beams, rather than concrete or brick. A further reason for the forecasted increase of demand is the growing cost of electricity and natural gas.