A new report has been released by Pike Research regarding the adoption of smart glass. “Smart glass is an innovative technology that both provides building owners unprecedented control over solar heat gain and offers a visually impressive alternative to flat glass,” says Eric Bloom, senior analyst at the firm.
According to a new report from Pike Research, substantial new production capacity due to come online in 2013 will reduce production costs and help drive greater product adoption of smart glass. The research firm predicts that the market value for architectural and transportation smart glass, at USD 84 million today, will grow to USD 693 million worldwide by 2020. Smart glass, as per the report, is defined as dimmable glass, switchable glass, or dynamic glazing.
“High-performance buildings require a level of control over energy that many of today’s automation systems are only now starting to address,” said Eric Bloom, senior analyst, in a release. “Smart glass is an innovative technology that both provides building owners unprecedented control over solar heat gain and offers a visually impressive alternative to flat glass.”
Worldwide demand for smart glass is expected to exceed 3 million square meters annually by 2020, Bloom added. North America and Europe are forecast to lead the market in terms of overall revenue, but growth will be especially strong in China, which continues to undergo a massive building boom.