Demand for smart glass will surpass 3 million square metres per year by 2020, states a report.

Pike Research’s new report says that as building owners and managers seek ways to make their facilities more energy efficient the use of smart glass will climb.

Smart glass applications rely on four main technologies: liquid crystal, electrochromic, suspended particle, and thermochromic materials. Demand for smart glass, which will be 110,000 square metres in 2012, will reach nearly 3.1 million square metres in 2020.

The annual value of the worldwide market will grow from $84 million today to nearly $700 million in 2020, the study concludes.

“While barriers stand in the way of the broader adoption of smart glass – chief among them reliability and price – the market potential for smart glass is high,” said senior research analyst Eric Bloom.

“As long-term performance is proven, prices decline, and substantial returns on investment are demonstrated, designers, engineers, and building managers will find expanding applications for these innovative materials.”