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The electrochromic glass industry is driven by the growing adoption of the product in the automotive industry. The growing popularity of electrochromic glass among luxury car manufacturers is likely to bolster the market growth, owing to the fact that the electrochromic glass enhances the driving experience by providing comfort to the passenger. Over the forecast period, the growing technological advancements are likely to further augment the market.
The growing use of electrochromic technology by the leading smartphone manufacturers is expected to further aid the industry. In September 2020, Vivo announced that the company is carrying out R&D activities towards developing a smartphone that has a rear panel capable of changing colours. According to the company, the smartphone will be installed with electrochromic glass that would change colour at the press of a key. Moreover, the easy availability of smartphones on e-commerce platforms such as Amazon (NASDAQ: AMZN) and Alibaba (NYSE: BABA) is likely to bolster their sales, which is likely to augment the growth of the global electrochromic glass industry.
In terms of region, North America is likely to account for a significant share in the market, owing to the technological advancements in the automotive and construction industries. This can be attributed to the rising investment towards renovation, infrastructure development, and growing population, among others. The growing demand for electrochromic glass from the residential sector, owing to the growing awareness about the advantages of the product, is likely to aid the market growth in the region.
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The major players in the global electrochromic glass market are AGC Inc., Chromogenics AB, Kinestral Technologies, Inc., Polytronix, Inc., and Smartglass International Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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