The global switchable smart films market size is expected to reach USD 9,026.9 million by 2027, exhibiting a CAGR of 15.7% during the forecast period. The growing shift from curtains, partitions, and glass doors to smart films in the healthcare industry will stimulate healthy growth of the market, states fortune Business Insights, in a report, titled “Switchable Smart Films Market Size, Share & Industry Analysis, By Type (Smart Films for Lamination, and Self-Adhesive Smart Film), Technology (Polymer Dispersed Liquid Crystal, Suspended Particle Device, Electrochromic, Thermochromic, and Photochromic), Application (Architecture, Automotive & Transportation, Consumer Electronics, Power Generation, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 2,934.8 million in 2019.
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Booming Automotive Industry to Propel Market in Europe
The market size in Europe stood at USD 1,291.3 million in 2019 and is expected to rise tremendously during the forecast period owing to the growing demand from the automotive industry. The market in North America is expected to experience high growth during the forecast period owing to the rising adoption of smart films from the construction, automotive, and healthcare industries. The increasing demand for smart films among the population owing to its superior advantages over curtains will enable speedy expansion of the market. The market in Asia Pacific is expected to hold a significant share during the forecast period owing to the flourishing consumer electronics industry. The rest of the world is expected to witness a high demand owing to the rapid industrialization and construction activities.