Smart Glass/Mirror in Automotive Market | Growing at a CAGR

Smart Glass/Mirror in Automotive Market | Growing at a CAGR of 10.2% from 2019 to 2027


Smart Glass/Mirror in Automotive Market | Growing at a CAGR of 10.2% from 2019 to 2027
December 30, 2020
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The global smart glass/mirror in automotive market value was at US$ 1,159.3 Mn in the year 2018 and projected to reach US$ 2,752.0 Mn by 2027, witnessing a CAGR of 10.2% during the forecast from 2019 to 2027.
Market Insights
Increasing Energy Consumption Regulation will spur the Smart Glasses/ Mirror demand in the Automotive Sector
Automotive industry is one of the important sectors that has espoused several advanced technologies to transform the standard of living, smart mirror is one of them. Its changeable light transmission property with changing voltage, heat, and light has made it more lucrative in the automotive world. This feature also helps in achieving the government standards for energy saving by reducing heating cost, lightning and air-conditioning cost. For instance, in June 2019, the Council on Fuel Efficiency Standards for Passenger Vehicles has set new energy standards and targets for passenger vehicles under which they are require to improve their fuel efficiency by 32.4% from the financial year 2016 sales performance. In the wake of same, the automotive industry is facing a paradigm shift towards smart mirrors and glasses from normal glasses.

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