This report was recently updated on April 16 2024 with the latest and most recent
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Global Smart Glass Market Size, Trends, and Analysis with COVID-19 Impact - Forecasts 2026 By Technology (Electrochromic, Polymer Dispersed Liquid Crystal (PDLC), Suspended Particle Devices (SPD), Thermochromic, Photochromic), By Application (Architectural, Transportation, Consumer Electronics, Power Generation, Others), By Region (North America, Europe, Asia Pacific, MEA, CSA); and Company Market Share Analysis & Competitor Analysis
Smart Glass Market Insights
The global smart glass market will propel at a high CAGR during the forecast period from 2020 to 2026. Smart glass is described as a type of electrically active glass that makes the production of smarter partitions within a given location, thereby offering significant cost-effective and definitive energy savings, allowing the building spaces environment-friendly. Hence, the increased demand for smart glass in the transportation and architectural solutions are the factors that drive market growth. The rising government investments in the railway sectors coupled with the growing demand for smart glass in the construction industry will drive market growth. There are many opportunities in the reconstruction and renovation programs, as many windows lack energy efficiency in the existing infrastructure. However, the fluctuation in prices of raw materials and complexity in designing of products are some of the factors likely to restrain the market growth during the forecast period.
Smart Glass Market: By Technology
Based on the technology, the global smart glass market is segmented into electrochromic, polymer dispersed liquid crystal (PDLC), suspended particle devices (SPD), thermochromic, and photochromic. Amongst all the technologies, the electrochromic technology will be the fastest-growing segment at a high CAGR from 2020 to 2026. This is due to unique features, such as reduced reaction time to add glass effect at low voltage consumption and high blockage ratios of dangerous IR and UV rays. It has also found its applications in sunroofs, and switchable windows, among others. Moreover, the growth can be attributed to increasing development in the domestic and automotive sectors. Furthermore, the suspended particle devices (SPD) segment is the largest share contributed to this market. This type of glasses will save more than 25% of existing electrical usage and minimizing the use of electricity resources contributes to improved energy efficiency due to maximum daylight use.
Smart Glass Market: By Application
Based on the study of the application, this market is fragmented into five segments namely; architectural, transportation, consumer electronics, and power generation, among others. The transportation segment is the largest share that contributed to this market. This is due to awareness of the potential to control heat & glare, minimize carbon emissions, and improve fuel consumption is expected to drive the use of smart glass in the automotive industry rather than regular glass. This segment is further bifurcated into aircraft, marine, and automotive. The automotive industry is recognized as the largest consumer of switchable glass.
Smart Glass Market: By Region
Based on the region, the global smart glass market is split into North America, Europe, Asia-Pacific, CSA, and MEA. The largest revenue contributor in the market is the North America region during the forecast period. The increasing production of automobiles and multipurpose construction material that architects use for various purposes is driving the growth of the market of smart glass. The rapid industrialization along with technological advancements are some of the significant factors driving the market growth in the region. Moreover, countries like the US and Canada are heavily investing, and increasing expenditure in infrastructure development and rising energy consumption concerns in buildings, especially in the commercial sector is expected to propel the market growth in the region.
Smart Glass Market: Share & Competitor Analysis
The key players operating in this market are Asahi Glass Co., Ltd. (AGC), ChromoGenics AB, Corning Incorporated, DuPont, e-Chromic Technologies, Inc., Kinestral Technologies, Inc., LTI Smart Glass, Inc., Merck KGaA, Pleotint LLC, PPG Industries, Inc., RavenBrick LLC, Research Frontiers Inc., SAGE Electrochromics, Inc., Saint-Gobain S.A., View, Inc., Scienstry, Inc., Smartglass International Limited, SPD Control Systems Corporation, Switch Materials Inc., NSG Group, VELUX A/S, Gentex Corporation, Guardian Industries Corp., Hitachi Chemical Co., Ltd., and Innovative Glass Corporation, among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In May 2019, NSG Group signed a development agreement between Ubiquitous Energy and its subsidiary. The company is recognized as a pioneer in transparent solar technology.
Check the Press Release on Global Smart Glass Market Report
Smart Glass Market: By Application
Smart Glass Market: By Technology
Smart Glass Market: By Region
The Global Smart Glass Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Smart Glass Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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