The Global smart glass Market report includes a global opportunity analysis and industry forecasts for the period 2023-2032. The global smart glass market was valued USD 4.46 billion in 2022 and registering a CAGR of 14.2% from 2023 to 2032. The base year considered for the study is 2021, and the forecast has been provided for the period 2023 to 2032.
Rising product demand in residential and commercial buildings for better aesthetics is predicted to spice up the market growth over subsequent six years. Architects are widely using smart technology in new buildings, which is further expected to possess a positive impact on the merchandise demand within the architectural application sector. As smart glass is gradually replacing its conventional counterpart within the manufacturing of automobiles, aircraft, and trains, significant growth opportunities exist for manufacturers within the transportation sector.
Four prominent companies involved within the development and production of smart glass, namely Research Frontiers Inc., Vision Systems, Hitachi Chemical, and Gauzy, jointly invested for producing Suspended Particle Device (SPD)-Smart light-control film utilized in Electronically Dimmable Windows (EDWs) manufactured by Vision Systems. EDWs are widely utilized in automobiles and aircrafts. Favorable growth prospects within the housing industry, increased production of automobiles, and growing investments in infrastructure projects are factors that are propelling market growth.
Residential and commercial buildings also are getting restored and renovated to form them more energy-efficient, thereby further widening the appliance scope for smart glass. Electrochromic glass has proved to be an appropriate solution for buildings, like healthcare facilities, retail spaces, and classrooms, where sunlight control may be a challenge. It helps maintain access to sunlight and outdoor views, which aids in quicker recovery of patients, improves emotional wellness, and increases employee productivity. Moreover, retaining daylight access can reduce a building’s reliance on artificial lighting.
Key Insights of Smart Glass Market:
- The increasing number of commercial and residential buildings across the developing economies is expected to have a positive impact on the market growth
- Electrochromic smart glass is projected to expand at the very best CAGR during the forecast period due to its increased usage in commercial buildings and transportation application
- Demand for smart glass power generation application is predicted to extend within the coming years thanks to extensive R&D during this field
- Asia Pacific is projected to be the fastest-growing market from 2020 to 2025 as it’s a comparatively untapped region for manufacturers
- AGC, Inc.; Corning, Inc.; DuPont de Nemours, Inc.; and Compagnie de Saint-Gobain S.A. are a number of the prominent companies within the market
The Smart Glass market segmentation is based on Technology, Application, and Region.
Technology Outlook:
The electrochromic smart glass segment is projected to witness a considerable growth due to unique facets, like reduced reaction time to use glass effect at low voltage consumption and delivering high blockage ratio of hazardous IR and UV rays. The expansion also can be attributed to the dynamic applicability in automotive and domestic sectors. High income levels and rise in demand for luxury automobiles is additionally one among the many factors contributing to the merchandise demand. The expansion of liquid is especially drive by its low driving voltage, high heat endurance, humidity & UV tolerance, and inherent capability to sustain variable temperatures starting from -30 to 80°C. Liquid glass is installed for privacy control solutions and also as makeshift projection screens. Suspended Particle Devices (SPD) is that the largest technology segment as this sort of glasses have the potential of saving quite 25% of the present electrical usage. The energy consumption in commercial and residential buildings is reduced by controlling solar radiations through windows that dramatically reduce HVAC energy usage. Reducing the usage of electrical power results in increased energy savings thanks to the utmost utilization of daylight.
Application Outlook:
The transportation segment accounted for the highest market share in 2019 and is projected to retain its leading position throughout the forecast years. Smart glass is widely utilized in doors, windows, rear-view mirrors, sunroofs, and windshields of vehicles. Rising need for reducing heat build-up and limiting the viewing degree is driving the merchandise demand during this sector. The segment is further categorized into automotive, aircraft, and marine. Automotive sector is that the largest consumer of switchable glass and captured the most important revenue share in 2019. The technology provides protection from UV rays and controls heat inside the vehicles by limiting energy consumption. Moreover, initiative for reducing CO2 emissions and minimizing energy consumption are encouraging manufacturers to develop anti-heat glass and glazing solutions. High demand for luxury automobiles, especially in Asia Pacific, is driving the market growth. Furthermore, major aerospace manufacturers, like The Boeing Company, Beechcraft Corporation, Airbus SA, Bombardier Inc., and Embraer S.A., are shifting towards electronically dimmable windows. The development sector has contributed significantly to the industry growth in 2019 due to continual investment in smart technology. Skyscrapers and high towers in MEA have incorporated this technology that has helped in reducing heat and lightweight transmissions to take care of the interior ambiance. Furthermore, architects are using switchable glasses within the construction of latest buildings, which is estimated boost the market growth in architectural applications. Also, it's one among the fastest commodity replacing concrete and other building materials to supply a vibrant and dynamic dimension. Additionally, the new construction market is anticipated to be more aware of these glass solutions as compared to the refurbishment market. The company sector is one among the main consumers of switchable glass, with an increased installation of the merchandise in cubical partitions and conference rooms, mainly thanks to its façade characteristics, like translucent diffusion. The replacement market growth is restricted thanks to the pre-existing architectural framework of buildings as in their blueprints.
Regional Outlook:
North America was the most important market in 2019 and is projected to take care of its dominance over the forecast years. Favorable regulations and mandates have led to the expansion of the regional market. They need not only added to the general energy savings but also reduced the upkeep costs, which has had a positive impact on the market. The U.S and European governments have planned to put in the electronics equipment with smart glasses and have addressed their transport department towards an equivalent. Increasing automotive production and presence of key companies in North America are contributing the region’s growth. Rapidly expanding land sector in Asia Pacific is projected to supply numerous growth opportunities over subsequent few years. Furthermore, growth opportunities exist within the areas of transportation and consumer electronics as manufacturers are increasingly using tinted and switchable products as an alternate to standard glasses. For example, the new Mercedes-Benz SLC has incorporated the SPD technology developed by Research Frontiers. within the Europe residential sector, Leadership in Energy and Environmental Design (LEED) and Nearly Zero-Energy Buildings (NZEB) have laid down certain discretionary regulations to reinforce the green building construction, consequently ensuring the utilization of eco-friendly material. Specific automotive laws bound the appliance of tint and glazes on automotive windows to take care of a particular degree of transparency for security concerns.
Competitive Landscape
The industry is led by a couple of major companies, like AGC, Inc.; Corning Inc.; Saint-Gobain; and DuPont de Nemours, Inc., which supply niche solutions for end-use applications. However, as no single company has expertise in manufacturing all types of smart glass technologies, there exists a big opportunity for consolidations, to realize a stronghold within the market. Key companies focus more on investments and partnerships with technology providers to develop innovative and differentiated products. For example, in February 2017, Kinestral Technologies invested a big amount to start its smart glass production in Taiwan.
This report also includes the profiles of key Smart Glass market companies along with their SWOT analysis and market strategies. In addition, these competitive landscapes provide a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments, and other latest industrial developments.
Key Developments in smart glass Market:
- In March 2019, at its Huawei P30 Pro launch event today, the company announced that it’s partnering with Korean fashion brand Gentle Monster to release its first smart glasses.
- In May 2019, Google has announced a new version of its business-focused Glass augmented reality headset, which it’s now designating an official Google product instead of an experiment. The Glass Enterprise Edition 2 costs $999, although, like its predecessor, it’s not being sold directly to consumers. It’s got a new processor, an improved camera, a USB-C port for faster charging, and a variety of other updates.
What Does This Report Provide?
This report provides a detailed understanding of the global Smart Glass market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.
Market Segmentation:
By Technology
- SPD
- PDLC
- Liquid Crystal
- Electrochromic
By Application
- Consumer Electronics
- Architectural
- Transportation
By Region:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Russia
- UK
- France
- Italy
- Spain
- The Netherlands
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Indonesia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
Reasons to Buy This Report:
- Market size estimation of the Smart Glass market on a regional and global basis
- Unique research Usage for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the market
Customization:
We provide customization of the study to meet specific requirements:
- By Segment
- By Sub-segment
- By Region/Country
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