In terms of revenue, the Global Smart Glass Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 10.9% from 2023 to 2030.
Market expansion is projected to be fueled by the expanding energy-conservation programs, including green buildings and eco-friendly structures. A favorable regulatory environment that facilitates tax and financial benefits is also expected to benefit the market throughout the forecast period. The market will increase significantly due to the burgeoning construction sector and rising investment in infrastructure projects. In addition, consumers' growing preference for glass over brick and cement walls will open up future profitable growth opportunities for the market. Large, floor-to-ceiling glass windows, which are becoming more popular, also encourage product adoption and open up new commercial prospects for the makers. Additionally, the ongoing replacement and renovation projects are anticipated to increase demand for Smart Glass. In addition, businesses benefited from the supported government programs in numerous nations.
Key Highlights from the Report
- Based on the Technology, the Electrochromic Glasses market segment is anticipated to dominate the Smart Glass market with the largest market share in the forecast period. Segmental growth is anticipated to be aided by rising benefits, including a higher blocking ratio of UV and IV rays combined with low driving voltage.
- Based on the Applications, the Transportation market segment accounted for the maximum CAGR during the forecast period. This is because aircraft, cars, and ships use Smart Glass in transportation-related applications.
- On the other hand, based on the Region, North America held the most significant market share in 2021 and is expected to be the most gainful market during the forecast period. This is due to the increasing product accessibility and a higher adoption rate.
With a button flip, multifunctional spaces illuminated by Smart Glass respond to user needs and adapt to their surroundings. It can also insulate buildings from sound and heat, saving energy while offering architects and interior designers a 3D design option. These glasses are used in buildings to develop smart facades, skylights, and smart windows, giving the structure a distinctive, dynamic aesthetic and allowing for control over privacy, particularly in office spaces and hospital dividers. The need for intelligent construction materials is anticipated to rise as consumer expenditure grows in emerging nations, enabling customers to live elegantly. Likewise, this glass is used in various tourist attractions to design distinctive areas that draw visitors.
Several multinational automakers are concentrating on incorporating contemporary ideas into their vehicles to differentiate their products from the competition. Customers have decided to select premium vehicle amenities due to rising consumer buying power over the past ten years. Switchable glass is one design choice that has flourished in the car sector. In addition to windows, rear-view mirrors, windshields, sun visors, sunroofs, and panoramic view windows, they are used in glass panels for these items. These glass panels help preserve temperature and privacy inside the car and control light transmission inside the vehicle chamber. These characteristics make these items more comfortable for passengers and energy-efficient for vehicles.
Demand has increased as a result of the aircraft industry's rapid expansion. As a result, aircraft makers are encouraged to adopt larger windows that would have more utility and passenger control. They are utilizing certain glasses, mostly SPD glass, for this purpose. These glasses provide the fundamental qualities needed to enhance the aircraft's performance, including quick and uniform reaction, great acoustic insulation, light management, and superior heat rejection when parked on the ramp. In addition, these features increase passenger comfort by reducing glare, protecting vision, and enabling daylighting at the press of a button. As a result, the aerospace sector is seeing an increase in demand for these glasses because they have features that increase consumer happiness throughout not only the flight but also aid aerospace businesses in maintaining the energy efficiency of the aircraft.
North America Smart Glass market is expected to witness a noteworthy development with a significant growth rate over the analysis period. This can be attributed to the availability of value-added goods like laminated glass and the implementation of energy-saving building laws in the area. The area businesses are introducing products that meet consumer demands.
The Global Smart Glass Market is Segmented as follows
- Suspended Particle Display
- Liquid Crystal
- Power Generation Plants (Solar)
- Consumer Electronics & Others
- Control Modes
- Remote Control
- Other Control Modes
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Smart Glass Market is
AGC Inc. (Japan), ChromoGenics (Sweden), Corning Incorporated (U.S.), Gauzy Ltd. (Israel), Gentex Corporation (U.S.), Guardian Industries (U.S.), Kinestral Technologies Inc. (U.S.), Nippon Sheet Glass Co. Ltd. (Japan), PPG Industries Inc. (U.S.), Raven Window (U.S.), Research Frontiers Inc. (U.S.), Saint-Gobain S.A. (France), Showa Denko Materials Co. Ltd. (Japan), Smart Glass International Limited (U.S.), VELUX Group (Denmark), Vision Systems (Israel)
The Global Smart Glass Market Scope can be Tabulated as below
|Market Size Provided for Years
|2017 - 2030
|2017 - 2021
|2023 - 2030
|Regions & Counties Covered
|Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis