Magnetic Resonance Imaging Market Analysis, Growth Forecast by Manufacturers, Regions, Type and Application to 2025

22^nd January 2021 – The global magnetic resonance imaging (MRI) market was valued at USD 3.2 billion in 2015. The systems are used mainly for the detection of central nervous system (CNS) related diseases such as tumors, spine lesions, stroke influenced area in brain and blood vessels. The main driving factor for this market is increasing elderly population and high incidences of CNS diseases. The high rates of chronic diseases due to the increased geriatric population and demand for the minimally invasive or non-invasive diagnostic procedures fuel the market growth.

The technology advancement in various screening techniques namely open systems, software up gradation and superconducting magnets supports the market growth. The combination of MRI and pacemaker is a new technology development opens the new door for MRI market due to its duel advantage and application. The higher adoption in the technology is due to the its sharp and precise images in short period of 20 minutes time because of its paramagnetic contrast agent and gadolinium-DTPA use as an intravenous injection. The high cost of devices and maintenance as well as servicing cost are hinders the market growth. The helium gas usage in machine cooling increases the total operation time and shrinks the productivity. The product approval from FDA and other regulatory authorities are one of the biggest challenges for the market.

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The product is categorized as closed and open type based on its design. The closed type of instrument captures the largest market in 2015. On the other hand the product acceptance of closed instrument is very law for the claustrophobic patients due to the fear of suffocation so the market opportunities for the open instrument are very high in projected forecast period. The instrument is also classified as mid field strength devices and high strength devices. The Mid field strength devices is more preferred due to its cost, speed of scanning and resolution. Thus, the mid field strength devices account the largest revenue share in 2015.

The MRI technique dominates the medical diagnosis market due to its various biomedical applications. The MRI is used for the scanning of various body parts such as abdomen, pelvis, brain, spine, heart, breast and musculoskeletal structure due to its anatomical and physiological scanning competence. The other alternative failed to give accurate and precise imaging results for the neural and brain disorders that boosts the market growth for MRI market. The lacks of other alternatives are the prime market driver for MRI and encourage the market growth during the forecast period. The MRI market is not so suitable for the breast and cardiac imaging due to the other strong preferable techniques such as of X-ray and other fist line imaging techniques.

North America dominated the market with the largest revenue share in 2015. The North America is the dominate market for the MRI techniques due to technology advancement as well as easy availability of instrument in this region. The government policies on healthcare, the reimbursement by the private and government insurances, awareness for the diseases and early detection heighten the market growth in North America. Asia Pacific is the most potential market for the MRI due to its increasing elderly population and high incidences of chronic diseases. The China, Japan and India are the growing economies of Asia and its medical tourism industry is growing at a high rate this leads to the MRI market in progressive direction. The cheap medical treatment costs, technology advancement, good facilities and healthcare system cause the new market opportunity for MRI in this region.

Major players competing in the industry include but are not limited to Siemens AG; Koninklijke Philips N.V.; GE Healthcare; Hitachi Medical Systems. These companies hold a strong position in the global market mainly due to their strong geographic reach. Some other players operating in the market include Toshiba Corporation; Aurora Imaging Technologies, Inc.; Esaote SpA; Sanrad Medical Systems Pvt. Ltd Inc.

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Construction Chemicals Market - Industry Size, Growth, Analysis, Applications, Opportunities and Forecasts to 2024

 21^st January 2021 – The global Construction Chemicals Market is anticipated to reach USD 67.61 billion by 2024, expanding at a 6.3% CAGR during the forecast period. Rising requirements from numerous end-use industries including residential & non-residential and infrastructure is expected to drive the market growth over the next nine years. In addition, the market expansion is expected to be driven by rapid shift towards urbanization and rising focus towards infrastructure development in emerging economies. Moreover, government initiatives in emerging economies such as India are also presumed to drive the market growth.

On account of stricter environmental regulations, the market participants are focusing on research and development activities to come up with new products complying with guidelines established by various regulatory bodies. Application of biochemical as construction chemicals is at its initial stage that could prove to be a revolutionary technology in future. Emerging countries such as India and China are presumed to fuel the market owing to various upcoming infrastructure projects under development. China was the major construction market accounting for over 20.0% of the global share in the year 2015. The market growth is also expected to witness a significant growth on account of rising rate of mergers and acquisitions by major players in the market. In addition, technological innovations have resulted in the rise in usage of other specialty chemicals which consist of chemical flooring, surface coating chemicals, grouting compounds and structural adhesives.

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In terms of market volume share, concrete admixtures accounted for 64.07% in the year 2015 on account of its wide usage in concrete to strengthen its chemical and physical properties. Its applications include all types of constructions such as residential and non-residential infrastructure. The product improves the strength of the construction by providing strong durability, enhanced durability, chemical resistance and considerably lowering cement and water requirement. Super plasticizers and plasticizers are broadly utilized as concrete admixtures. Super plasticizers are suitable for pre-stressed concrete as majority of the products are chloride free. Chloride causes an oxidation reaction with metals, which then causes corrosion, weakening the building structure.

Infrastructure and non-residential industry accounted for over 60% of the total market revenue share in 2015. Construction chemicals are applied in non-residential segments such as hotels, office spaces, retail, erection of warehouse and industrial buildings. The growth for infrastructure activities is driven by government initiatives in developing economies which consist of India, China, Brazil and Mexico. In addition, the market growth is anticipated to be fueled by growing trend towards metropolitan developments caused an increase in the need for more residential buildings. The expansion of the residential & non-residential segment is caused by growing per capita income together with strengthening economic policies in the emerging economies. Overseas investments have increased in the recent years in Asia Pacific, which is also propelling the growth.

With a market share over 45%, the Asia Pacific region was valued as the largest market for the product globally in 2015. India and China are the key markets in the region contributing over 50% of the total regional market size. The growth of construction chemicals market is directly associated with the development of construction sector. Asia is presumed to witness an investment of about USD 8.0 trillion by the year 2020 according to the Asia development bank. Growing urbanization trend and increasing disposable income of population in countries such as India, Vietnam and China has generated a necessity for better transport systems, water & sanitation facilities and buildings. Further, numerous international investors are focusing on re-allocating their capital in APAC. Construction and infrastructure activities have seen a rapid growth in the country since the launch of 2011-20 Economic Transformation Program (ETP) by the Malaysian government. The construction sector in Vietnam was valued at USD 24.0 billion in the year 2012. All these factors are projected to result in the consistent growth of construction industry in APAC region, which in turn will cause a high growth of construction chemicals in this region.

The major players in the global construction chemicals market are FOSROC chemicals, BASF SE, Grace & Co., Arkema S.A., Dow chemicals, Pidilite Industries Ltd., Mapei S.P.A and RPM International Inc. The market is extremely competitive in nature with key players engaged in product innovation and R&D. Market players are trying to enlarge their customer reach through various strategies which consist of new product launches and exhibitions. The U.S. based manufacturer, Dow Chemicals is a key player in this market. The firm manufactures a wide range of sealant products and adhesives. Strategic agreements and launching innovative products has helped the company to preserve their position in the construction chemicals market globally.

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Carbon Capture And Storage (CCS) Market - Industry Size, Growth, Applications, Opportunities and Forecasts to 2025

 20^th January 2021 – The global carbon capture andstorage (CCS) market was 61,150 kilo tons in 2015. Rising pressure on nations to cut down carbon dioxide emission coupled with demand for clean energy is expected to drive the global carbon capture and storage market. Uprising in global demand to bring down carbon emissions owing to climate change threats, are augmenting the growth of the global CCS market. Rising demand for global energy has fueled fossil fuel combustion, giving rise to greenhouse gases. CCS is the forefront viable technology which mitigates the greenhouse combustions and converts it into clean energy saving fuel costs and further combustions.

Globally, there 22 projects are in operational status and an additional 14 projects are anticipated to be functional in the forecoming years. CCS technology is a proven cost effective and efficient technology to bring down carbon emissions. Industry players are focusing on developing new and more efficient carbon capture technologies and processes such as Post Cap which is a post carbon capture technology. It’s basic foundation is on amino acid salt (AAS) solution which is used as solvent. This is finds use in coal-fired power stations and natural gas-fired power plants.

Innovation companies are making break through progress to present innovative technologies to recycle CO2 and reduce greenhouse gas emissions are expected to encourage the carbon capturing and storage technology market across the globe. The growing clean power technologies demand and the stringent regulations set by governing bodies of diverse nations for adhering to carbon emission norms are some of the critical factors driving market growth. Regulatory framework is still in a nascent stage to address the issues concerning CCS. This market requires a strong legal regulatory framework in order to deploy this technology for future benefits. CCS has gained reputation of being a unparalleled technology in combating fossil fuel emissions and efficient energy costs.

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Pre-combustion capture technologies for carbon dioxide accounted for the major share owning 73% in 2015 and are estimated to observe growth in the forecasting period. Utilizing water gas shift reaction along with acid gas removal process is the current commercial trend that is practiced globally. On version of these reasons pre-combustion capture technology is assumed to control the capture sort segment in the nearby future. An estimated growth of 15.6% is projected for post-combustion capture technology in the period 2015-2025. Improved energy generation coupled with advanced amine methods and heat mixing systems are likely to be the core reasons driving the demand for CCS market during the forecast period.

EOR activities accounted for more than 80% of total global revenue in 2015. EOR techniques are finding rampant increase in applications owing to depleting conventional oil in resources. Volatile oil prices are expected to drive EOR operations across oil sites. Currently with the crude oil prices staying low, global EOR operations are seeing a decrease in activity but are expected to pick up in mid-2018. Modern technologies utilizing carbon dioxide realized in the production stage are expected to foster the growth for CCS technologies in the near future. Growth in sectors such as petroleum refining, chemical and manufacturing are expected to further have a positive impact in this market.

North America CCS industry lead the global demand accounted around 60% of the complete market. Rigid controlling framework for cleaner surroundings tied with aggregate essential of carbon dioxide in EOR practices owed to increasing figure of matured oilfields remain estimated to be the main aspects motivating the industry saturation. Asia Pacific CCS market is expected to rise at a CAGR of 16.4% between the period 2016 to 2024. The trending regional economies in the region such as China and India with countries such as Japan, Indonesia and Malaysia are targeting on cleaner environment resulting in accelerated economic growth in the areas thereby having a growth prospect in the carbon capture and storage market.

The carbon seizing and storing equipment market through the world is extremely competitive in countryside and is likely to grow concentrated in the upcoming next years. Key players in the CCS industry are AkerSolutions, Shell CANSLV, Linde Engineering, Statoil, Sulzer, and Mitsubishi Heavy Industries.

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Dermatology Devices Market Outlook to 2025: Top Manufacturer Analysis, Industry Overview and Forecast Report

19^th January 2021 – The global Dermatology Devices Market size is likely to reach USD 25.7 billion by 2025, registering at a 13.5% CAGR during the forecast period. Rising number of esthetic procedures and escalating prevalence of skin-related disorders are major factors contributing toward the growth of the market. There has been a rise in incidences of poor skin conditions which lead to increasing number of the skin treatments performed where dermatology devices are needed. According to the International Society of Aesthetic Plastic Surgery, around 20,236 thousand aesthetic procedures were performed globally. Thus, this large number of plastic and aesthetic surgeries performed worldwide is also expected to augment the dermatology devices market. Moreover, the increasing aesthetic concern among the population has led to the increased demand for the dermatology procedures ultimately leading to the dermatology devices market growth. In addition, the hair related problems are also expected to boost the growth of the market.

Growing prevalence of skin cancer is another major factor contributing toward market growth. For instance, according to American Cancer Society, about 10,130 people die due to melanoma each year in the U.S. Thus, there is rising demand for dermatology products for the diagnosis of the skin cancer which can help the prevention of cancer at an early stage. For instance, dermatoscopes are used for the detection of skin cancer by the evaluation of pigmented lesions. Moreover, the growing technological advancements in the dermatology devices has led to the increased demand for these products. Furthermore, the increased incidence of the obese population has further led to increased demand for the liposuction procedures, where dermatology products are used, ultimately boost the market growth.

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Based on the products, the dermatology devices market is classified into treatment and diagnostic devices. The dermatology treatment segment is estimated to dominate the market due to increasing population adopting newer dermatological or aesthetic procedures for the treatment of skin disorders and enhancement of the skin. Also, the acne-related problems are growing, which is attributed to increased demand for these products for acne treatment. This increase in the demand for the acne removal procedures has attributed to the growth of the market. The diagnostic segment is expected to grow at a significant rate over the forecast period. This is due to the increased incidence of the skin disorders and skin cancer globally, which has created awareness among the people for early stage diagnosis of cancer.

There are different types of diagnostics products including dermatoscopes, imaging devices, and microscopes available for the diseases diagnosis. Among them, the imaging segment accounted for the largest revenue share in 2015 due to the increasing prevalence of skin cancer and other skin disorders. The imaging devices are widely used for the early diagnosis of the skin cancer. Based on the treatment market is classified into light therapy devices, lasers, electrosurgical equipment, liposuction devices, microdermabrasion devices, and cryotherapy devices. Amongst them, light therapy accounted for the largest market share in 2015 owing to its large usage in the acne treatment.
Liposuction devices are expected to showcase significant growth rate due to increase in the number of obese people globally and rising concern about fat removal and body contouring amongst people with obesity. Moreover, the weight management can be done by liposuction products helping in the prevention the other chronic conditions such as heart diseases and diabetes.

Skin cancer segment accounted for the largest share of the overall market in 2015 due to the increasing incidence of skin cancer worldwide. There is high demand for advanced diagnostics products for early detection of skin cancer. Amongst the dermatology treatment segment, the vascular lesions dominated the segment in 2015. This high share is due to the large application of the lasers and light therapy devices for the treatment of the vascular lesions. Acne, tattoo, and psoriasis removal are expected to showcase a lucrative growth rate during the forecast period. This is due to the increased visibility of the scars due to acne and their removal becomes essential for aesthetic appeal. Moreover, the tattoo can cause various adverse effects in the later phase of the life, hence tattoo removal is in demand, boosting the segment growth.

The end use segment is categorized into clinics, hospitals, and other healthcare facilities. The hospital segment held the largest share and is estimated to dominate the market during the study period. This is because of a large number of the dermatology and aesthetic procedures performed in the hospitals for various treatments such as skin disorders and fat removal. The other segment includes diagnostic centers and e-commerce. This segment is projected to show a significant growth during the forecast period due to growing prevalence of the skin cancer globally. Thus, there is increased demand for the diagnostics products for the early diagnosis of skin cancer.

North America dominated the market in 2015 due to the highly developed healthcare infrastructure and high disposable income in this region. Moreover, the higher prevalence of the skin cancer and obesity in the U.S. also has led to the growth of the market. The Asia Pacific is expected to showcase the fastest growth during the forecast period. This high growth is due to the growing popularity of medical tourism owing to the availability of less expensive medical treatments in the Asia Pacific region. Some of the key players comprise Solta Medical, Inc.; Alma Lasers, Ltd.; Valeant Pharmaceuticals International Inc.; Cynosure, Inc.; Cutera, Inc.; Syneron Medical Ltd.; Avita Medical Ltd.; and GE Healthcare. These companies are involved in new product development, mergers & acquisitions, collaborations, and geographical expansions to gain maximum share in the sector. For instance, in 2013, cynosure, Inc., acquired Palomar medical technologies, that is expected to strengthen their laser-based treatment product portfolio.

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Digital Therapeutics Market Overview, Challenges and Growth Opportunities Analysis till 2025

13^th January 2021 – The global digital therapeutics market size was estimated at USD 1.7 billion in 2016. Digital therapeutics is a subset of digital health and is used to track health conditions and self-management of a medical condition. A significant change in the usage of digital technology has created cognizance among users and has allowed increasing adoption of these services. Moreover, there has been increased burden of the chronic diseases that requires effective treatment and management. There are a lot of services provided by digital therapeutics that aid in embracing healthy habits and allow efficient tracking and management of conditions. Digital therapeutics is thus estimated to grow at a fast rate owing to increasing adoption among patients and other end users.

There has been a significant rise in internet usage among people which has been one of the significant drivers for the digital therapeutic market. Moreover, the treatment associated with the digital therapeutics is popular which is further adding to the growth of the digital therapeutic market. Chronic diseases are major problems and act as threats to the economy leading to high healthcare expenditure. For instance, according to the CDC, about 50 % of the adult population was suffering from the chronic diseases in 2012. As chronic diseases like diabetes, obesity and other respiratory problems are well managed with the help of the digital therapeutics they are being used on an increasing level. The market growth is affected by the lack of the effective monetization techniques which are faced by the application developers. There has been a shortage of the financial earnings which are partially fulfilled by the advertisements, paid content, and other prominent revenue generation strategies.

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Based on the application, the market is classified into diabetes, obesity, cardiovascular diseases, central nervous system disease, respiratory diseases, smoking cessation, and others. Diabetes accounts for the largest market share of the application segment followed by other applications. Diabetes causes heavy burden on patients as well economies on the health front as well as the economic front. For instance, 8.3 % of the U.S. population suffers from diabetes while 35% of them exhibit prediabetes symptoms. Also diabetes is expected to show the fastest growth in the application segment due to the high prevalence and incidence of the disease. Digital management is helpful in the management of the symptoms of diabetes such as polyuria, polydipsia, and polyphagia. A large number of medical practitioners are using mHealth and have estimated that diabetes would reach its highest market limit in the next 5 years.

Based on end use, the digital therapeutics market is divided into the patients, employers, providers, payers, and others. Patients are the major consumers of the therapeutic healthcare programs and applications offered by digital therapeutics. The usage of these services has been attributed due to increasing cognizance and added benefits offered by digital therapeutics. Hospitals accounted for the largest market share owing to increased usage of digital therapeutics services for patients admitted in these settings. The utilization of these services allows affordable and vital healthcare to patients.

The digital therapeutics market by region is characterized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is a market dominator in digital therapeutic market. Growing number of reforms to limit the surge in healthcare expenditure in the country coupled with drive to focus on a patient-centric healthcare approach is anticipated to be accountable for the same. Furthermore, North America is a major center of a great amount of digital therapy suppliers. The U.S. has been conveyed to spend about USD 3 trillion a year on healthcare. In order to limit this expenditure, there is a vigorous swing in the U.S. healthcare sector that emphasis focused towards palliative care, to endorse overall patient wellness as an alternative of medical treatment. Asia Pacific is anticipated to record fastest growth rate, due to two main attributes, namely, a highly solid population base that adapts into an enormous target base and rapid development that involves fast changing technological scenario. Moreover, constant improvements in countries to check the deficiency of proper infrastructure and preserve sustainable growth through economic intervention are expected to help the market growth.

Some of the key companies in the market comprises of Livongo Health; Twine health, Inc.; Omada Health, Inc.; 2Morrow, Inc.; Propeller Health; WellDoc, Inc.; Canary Health, Inc.; Proteus Digital Health, Inc.; and Mango Health, Inc. Digital therapeutics is in its preliminary stages of development and is expected to increase its presence in the digital market with increasing adoption of apps and services offered by developers. Dominant players in the market are focused on development of user friendly and simple interfaces that allows customers to use these services on a larger level at ease. However, growth probability is considered to be great in the market, which is contributed by growing adoption of therapeutic applications by leading healthcare providers to provide better treatment options to patients.

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Extracorporeal Membrane Oxygenation (ECMO) Market Dynamics, Growth Prospect and Consumption Analysis till 2024

12^th January 2021 – The global Extracorporeal Membrane Oxygenation (ECMO) market size was valued at USD 246.5 million in 2016 and is expected to grow at CAGR of 4.3% over the forecast period. The major factors boosting growth are the rising incidences of Chronic Obstructive Pulmonary Disorder (COPD), and surging prevalence of cardiopulmonary diseases and respiratory failures. According to data recorded by the American Lung Association (ALA), in 2013, COPD was recorded to be the third largest cause of death across the U.S. In addition, over 24.0 million individuals are estimated to remain undiagnosed in the U.S. and 11.0 million diagnosed for COPD.

Also, the increasing adoption of unhealthy lifestyles, such as rise in the total tobacco consumption level among both, females and males and further development of lifestyle disorders are augmenting the incidence rate of COPD. ECMO machines are gaining popularity in the hospital and healthcare systems due to the rising trend of its application during cases of respiratory disorders. The ECMO machines are used in cases of cardiac failure to facilitate auxiliary oxygen support system. These machines are frequently used in patients suffering from respiratory conditions and also in neonates and pediatric patients. The estimated growth of these machines can be attributed to the critical nature of the target population consisting of neonates and pediatric patients.

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The segmentation of the key modalities is done on the basis of the different setups that are provided by the ECMO circuit such as arterio-venous, veno-arterial and veno-venous. They are used to provide hemodynamic support and to facilitate gaseous exchange in patients with cardiac or respiratory failure. Both gas exchange support and hemodynamic support is provided by the veno-arterial ECMO system. It majorly works by passing the blood flow from the patients’ heart and lungs to the ECMO circuit. The veno-venous ECMO system on the other hand facilitates sole gas exchange support in which the blood is made to return to the heart prior to pulmonary circulation. According to the U.S. National Institute of Health (NIH), combination of veno-venous and veno-arterial is used in specific cases such as cardiogenic shock.

As per applications, the market is segmented into Extracorporeal Cardiopulmonary Resuscitation (ECPR), respiratory and cardiac. The segments are further segmented on the basis of who is using the set up into adult application, neonate and pediatric. The segment dominating the market in 2015 with about 40.0% of the industry share is respiratory based ECMO. The increasing demand for the ECMO systems is majorly attributed to rising number of patients with chronic respiratory conditions like COPD, emphysema and chronic bronchitis combined with a trend of growing awareness about health disorders. As per the U.S. National Center for Health Statistics, more than 8.7 million individuals suffered from chronic bronchitis and 3.4 million individuals suffered from emphysema in the year 2014.

The major regions in this market are North America, Europe, Asia Pacific, Latin America and MEA. North America has grown considerably in this segment majorly attributed to the well-developed primary, secondary and tertiary care hospitals combined with the reimbursement network, increasing awareness about the ECMO system facilitating their rapid adoption in the hospitals and favorable government funding. Refinements in the technology presently in use were made by Terumo Cardiovascular Systems Corporation during the production of CAPIOX FX Oxygenator. This system is expected to help in increasing the blood rate and offer complete control over the entire process.

Some key players operating in the ECMO market include MAQUET Holding B. V. & Co. KG, Microport Scientific Corporation, Medos Medizintechnik AG, Sorin Group, Medtronic, Plc., Terumo Cardiovascular Systems Corporation, and Nipro Medical Corporation. The major strategic initiatives adopted by the companies in this vertical are technological advancements in the existing portfolio and new product development. For example, Medtronic Plc designed Minimax Plus Oxygen System for patients from wide ranging age groups such as from neonates to children, with features such as venous air director and low arterial port, which are integrated in the system to increase the safety levels and performance.

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Smart Glass Market Growth Analysis, Trends Forecast by Regions and Types to 2025

11^th January 2021 – The global Smart Glass Market size is likely to reach USD 9.98 billion by 2025. Smart glass is also known as magical glass or switchable glass. Smart glass changes its transmission properties when heat, light or voltage is applied. Smart glass is used in windows, doors, skylights, and partitions in residential and commercial buildings. Smart glass helps to reduce the cost of heating, lighting and air conditioning. The market growth is associated with the capacity of the glass to transform light and adjust heat depending on the external environmental conditions. Building owners started displaying an inclination towards adopting this technology, after realizing the long term benefits attributed to energy efficiency.

The industry is achieving heights owing to the development of strict regulations with respect to efficiency of energy and large-scale urbanization in developing countries. Elevated investments in the construction of smart glass in connection with the creation of industrial-scale production capacity, has significantly added towards market growth. Expanding consolidations among technology provider and supplier are nourishing the progress of smart glass as per a wide range of application areas. Factors like growing usage in marine, aviation and power generation are encouraging industry extension. Growing adoption of green initiatives such as eco-friendly and green buildings, non-electric technologies such as thermochromic, etc. are the factors that are driving the growth of the industry. In the replacement market, shifting demand towards active smart glass from passive smart glass design is adding stress to the acceptance of the products.

Due to the rising recognition of the advantages of smart glass over a plain glass in the body of automobiles and airplanes, there has been a growth in the adoption of smart glasses in the automobile and aircraft industries. In addition, development of creative solutions had led to the growth of smart windows in the architectural sector. Government support and initiatives are also adding to the industry demand.

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On the basis of technology, the market is segmented into SPD (Suspended Particle Devices) Electrochromic, PDLC, and Thermochromic. SPD held a market share of around 40% in 2016. SPD is an electrochromic glass that can be tuned, manually or automatically to control the light, heat, and glare entering the premises. The growth of SPD glasses can be traced to its high electricity saving capabilities. Electrochromic glass applies the electrochromism principle, which allows the materials to change the color or opacity when a burst of charge is applied. Electrochromics and SPD are used commonly in automotive and architecture applications. Thermochromic is used for power generation application. Due to the increased attention on the use of ‘Green Energy,' the North America and European regions are predicted to come up as the leading markets for liquid crystal (LC) smart glass. Besides, the high durability and quick light control capacity of liquid crystal smart glass is anticipated to increase the demand throughout the forecast period.

On the basis of application, smart glass market is segmented into Architectural, Transportation and Consumer Electronics. The Transportation segment dominated the market with a revenue share of 45% in 2016. It is anticipated to come up as the most advantageous segment due to the growing acceptance of this technology by premium and medium-sized car manufacturers. The enormous tuning and fast-switching features of smart glass facilitate to reduce unwanted glare and light thus allow user to appreciate the glare-free view. The heat-blocking features help in improving the fuel efficiency and reducing the carbon emissions in vehicles.

Also, automotive OEMs (original equipment manufacturer) are highlighting to lower both the CO2 emissions and energy consumption. To fulfill this, producers are creating solutions such as anti-heat glass and glazing solutions. The increasing penetration of luxury automobiles in the Asia Pacific region as well as increased income levels of the audience are the major drivers for the growth of the industry in automotive applications. Similarly, in the aerospace sector, several OEMs including The Boeing Company, Beechcraft Corporation, Airbus SAS, Bombardier Inc. and Embraer S.A. are transitioning towards electronically dimmable windows. The construction sector is supposed to be promising sector due to its higher rate of growth with continuous investments in smart technology. In the Middle Eastern region, a majority of high towers and skyscrapers have integrated smart glass for exterior structure fabrication so as to enhance reduction of heat and light transmissions thus maintaining internal ambiance.

North America dominated the smart glass market in 2016 with a share close to 35%. Favorable regulations and instructions have led to the growth of these products in the region, thus enabling overall saving of energy and reduction the maintenance costs which leads to a positive impact on the growth of the market. The European Union territories and the U.S. governments are planning to regulate the adoption of smart glass-incorporated electronics equipment and have directed their transport departments toward the same. Furthermore, the existence of key participants and rising production of automotive are fueling the market growth. The industry is expected to be directed by the acceptance of premium products, such as laminated glazing, and the legislation of energy conservation regulations to build in mature markets such as Europe and North America. In the case of developing markets, growing construction sector is anticipated to provide growth avenues. The major participants in the industry include Saint-Gobain S.A., Asahi Glass Co., Ltd, DuPont, and Corning Incorporated. The industry is dominated by a few major players who provide niche solutions for end-use applications.

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