LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global electrochromic storage devices market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Jujhar Singh, a lead analyst at Technavio for embedded systems research, “The global electrochromic storage devices market is expected to grow at a CAGR of more than 12% during the forecast period. This is due to increased demand for electrochromic storage devices for smart windows, doors, or roofs in houses and offices. Also, high demand for these devices in airplanes will further drive the growth of this market.”
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
The top three emerging market trends driving the global electrochromic storage devices market according to Technavio research analysts are:
- Innovations in fragile coating-based electrochromic storage devices
- Increase in energy storing capacity
- Rising number of vendors and collaborations
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Innovations in fragile coating-based electrochromic storage devices
In the current scenario, an electrochromic glass comes as a complete solution, where the entire window is coated with a layer of electrochromic metal oxide. This increases the overall cost of electrochromic windows. Scientists are focusing on developing an electrochromic technology, where a fragile electrochromic coating can be applied to an existing window glass. This will significantly reduce the cost of the process. The coating will be like a reel of self-adhesive plastic that users can stick on the existing windows in homes or offices. This will help in reducing the installation costs, lowering the impact of the challenge associated with high installation costs. It will result in higher revenue generation in the electrochromic storage devices market.
Increase in energy storing capacity
One of the trends in the market is to combine solar cells and electrochromic windows so that instead of uselessly reflecting sunlight away, these darkened smart windows can soak up that energy and store it for later use. Smart windows easily capture the solar energy falling on them during the day in batteries. This stored energy can be used to power lights inside homes or offices during the night. A smart electrochromic window that is doubled as a solar cell from both sides would be a relatively dark-colored window, and it would be less efficient at energy absorption when compared to a good solar cell.
Rising number of vendors and collaborations
Many new vendors are expected to enter the electrochromic storage devices market because of the increased demand from various sectors, including the transportation and commercial sectors. Building constructors are collaborating with electrochromic storage device vendors to install these devices in homes and offices.
“Due to the growing adoption of these devices, vendors are focusing on preparing business models that will increase the efficiency and reliability of these products. Many vendors are forging partnerships to provide innovative products in the market and increase their profitability. Such partnerships will also help vendors differentiate their products and remain competitive in the market,” says Jujhar.
Browse Related Reports:
- Global Distributed Temperature Sensing Market 2017-2021
- Global Radio Frequency (RF) Cable Market 2017-2021
- Global Wireless Mesh Networking Devices Market 2017-2021
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
