Smart Glass Market Trends, Share, Size & Growth Analysis 2031

Smart Glass Market Trends, Share, Size & Growth Analysis 2031

Segments - Smart Glass Market by Technology (Photochromic, Electrochromic, Thermochromic, Suspended Particle Devices, and Polymer Dispersed Liquid Crystal), Applications (Architectural, Power Generation, Consumer Electronics, and Transportation [Marine, Aircraft, and Automotive]), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023-2031

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Author : Riddhesh Dani
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Fact-checked by : Harneet Meher
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Editor : Shruti Bhat

Upcoming | Report ID :MC-2060 | 4.1 Rating | 84 Reviews | 182 Pages | Format : PDF Excel PPT

Report Description


Smart Glass Market Outlook 2031

The global smart glass market size was valued at USD 4.92 billion in 2022 and is likely reach to USD 8.67 Billion by 2031 expanding at a CAGR of 6.5% During the forecast period, 2023-2031. The growth of the smart glass market is attributed to increasing worldwide tax initiatives and several financial benefits provided by the support of the administrations.

Moreover, the need for energy cost savings is also anticipated to boost the market growth. Smart glass refers to a type of glass that falls under the class of electrically active glass that allows intelligent partitions in a particular region of the glass. These are majorly used for controlling the light within a medium. An immense amount of attention has been gained by the smart glass in recent years as it provides the perfect proposition for elegant 3D designs, audible & thermal insulation, and energy-saving properties.

Smart Glass Market Outlook

The usage of smart glass enables consumers to have better control of the sunlight along with preventing the indoor temperature from rising during the summers. The energy cost and carbon footprint of the building reduces by the usage of smart glass.

As per the reports by the Department of Energy (DoE) in the commercial sector, there are approximately 500 million square feet of windows are installed that use smart glass in most of the buildings and help in energy conservation, which not only improves indoor air quality but also provides thermal comfort. The same report suggests that 19 million square feet of windows are installed in the residential sector with smart glasses.


The COVID-19 pandemic had adverse impact on various industries and shattered the global economy. The pandemic had negatively impacted the smart glass market as the worldwide assembly plants were temporarily closed due to emergency lockdown. Restricting the trade across national and international boundaries caused a high disruption of the overall demand for smart glass.

However, some of the small and medium-sized industries recovered fast from the negative impact due to the providence of financial reliefs by respective governments to those who were facing immense economic challenges due to the pandemic.

  • Rising initiatives for energy-conservation including eco-friendly structures & green buildings are expected to boost the market growth over the forecast period.
  • Growing investments for infrastructure projects along with the shift of preference of consumers on smart glass for convenience & comfort over cement & bricks walls are anticipated to drive the market growth.
  • Increasing renovation and replacement activities is estimated to propel the market expansion in the coming years.
  • High cost of smart glass coupled with the lack of awareness regarding the products are key challenges that can restrain the market growth during the forecast period.
  • Introduction of subsidiary schemes by governments across countries to reduce the smart glass cost and technological advancements are projected to create lucrative opportunities for the market growth.

Scope of The Smart Glass Market Report

The report on the global smart glass market includes an assessment of the market, trends, and segments. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Smart Glass Market – Global Industry Analysis, Growth, Share, Size, Trends, And Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Technology (Photochromic, Electrochromic, Thermochromic, Suspended Particle Devices, and Polymer Dispersed Liquid Crystal) and Applications (Architectural, Power Generation, Consumer Electronics, and Transportation [Marine, Aircraft, and Automotive])

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Vision Systems; ChromoGenics; Gauzy Ltd.; Corning Inc.; Gentex Corp.; Kinestral Technologies, Inc.; Guardian Industries; Nippon Sheet Glass Co., Ltd.; RavenWindow; PPG Industries, Inc.; Research Frontiers Inc.; Showa Denko Materials Co., Ltd.; Saint-Gobain S.A.; Smartglass International Ltd.; Vision Systems; VELUX Group; View, Inc.; and AGC Inc.

Smart Glass Market Segment Insights

Electrochromic segment is anticipated to dominate the market

On the basis of technology, the smart glass market is divided into photochromic, electrochromic, thermochromic, suspended particle devices (SPD), and polymer dispersed liquid crystal (PDLC). The electrochromic segment is anticipated to dominate the market owing to its easy integration with large glass panels, the providence of high blockage to IV & UV rays, and low driving voltage.

Moreover, electrochromic glasses offer a key advantage that these glasses have the ability to easily turn into opaque, colored, or tinted and modulate the heat by transmitting light. These glasses are majorly applied in hospitals, commercial spaces, educational buildings, and retail outlets.


The SPD segment is expected to expand at a high CAGR during the forecast period as it enables precise and instant light control along with properties to change into dark mode from transparent within seconds. These glasses have high an optical quality that can provide sufficient natural lighting along with providing control over the glare from the sun’s rays.

On the other hand, the PDLC segment is estimated to grow at a substantial rate attributed to the importance given to the usage of green energy. These glasses are applicable in the sectors of architecture, aircraft, marine, and automotive. These types of glasses are sometimes referred to as privacy glass, intelligent glass, switchable glass, or magic glass.

Smart Glass Market Technology

Transportation segment is expected to grow at a substantial rate

Based on applications, the market is segmented into architectural, power generation, consumer electronics, and transportation. The transportation segment is further segmented into marine, aircraft, and automotive. The transportation segment is expected to grow at a substantial rate owing to the rising environmental consciousness and energy concerns associated with transportation service.

An increase in the adoption of smart glass by automobile manufacturers is expected to help the further expansion of the market. On the other hand, the architectural segment is anticipated to grow at a considerable rate attributed to the increasing number of infrastructure projects and the adoption of smart glass by the corporate headquarters & commercial office buildings.

Smart Glass Market Applications

Smart Glass Market Regional Outlook

Asia Pacific market is estimated to register a high CAGR

In terms of regions, the global smart glass market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominated the market in terms of revenue in 2020 due to several favorable regulations for energy conservations for buildings and huge disposable income in the region.

The regional market growth also is further accelerated due to the increasing adoption of electric cars as they consist of advanced technology including smart glass. However, the market in Asia Pacific is estimated to register a high CAGR during the forecast period owing to increasing awareness regarding energy conservation and rising development of various manufacturing units especially for the automotive industry along with the growing disposable income of consumers in the region.

Smart Glass Market Region

Segments

Technology

  • Photochromic
  • Electrochromic
  • Thermochromic
  • Suspended Particle Devices
  • Polymer Dispersed Liquid Crystal

Applications

  • Architectural
  • Power Generation
  • Consumer Electronics
  • Transportation
    • Marine
    • Aircraft
    • Automotive

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Vision Systems
  • ChromoGenics
  • Gauzy Ltd.
  • Corning Inc.
  • Gentex Corp.
  • Kinestral Technologies, Inc.
  • Guardian Industries
  • Nippon Sheet Glass Co., Ltd.
  • RavenWindow
  • PPG Industries, Inc.
  • Research Frontiers Inc.
  • Showa Denko Materials Co., Ltd.
  • Saint-Gobain S.A.
  • Smartglass International Ltd.
  • Vision Systems
  • VELUX Group
  • View, Inc.
  • AGC Inc.

Competitive Landscape

Key players competing in the global smart glass market are Vision Systems; ChromoGenics; Gauzy Ltd.; Corning Inc.; Gentex Corp.; Kinestral Technologies, Inc.; Guardian Industries; Nippon Sheet Glass Co., Ltd.; RavenWindow; PPG Industries, Inc.; Research Frontiers Inc.; Showa Denko Materials Co., Ltd.; Saint-Gobain S.A.; Smartglass International Ltd.; Vision Systems; VELUX Group; View, Inc.; and AGC Inc.

Many of these players have adopted business strategies such as partnerships, acquisitions, alliances, and mergers in order to increase their operation expansion, consumer base, and market position globally.

For instance, the partnership was signed between Kinestra Technologies, Inc. and Vitrum Glass Group in June 2019 in order to produce Helio insulating glass units. Another partnership was announced in December 2019 between Glatic Co., Ltd. and Research Frontiers Inc.

Smart Glass Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Glass Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Smart Glass Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Smart Glass Market - Supply Chain
  4.5. Global Smart Glass Market Forecast
     4.5.1. Smart Glass Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Smart Glass Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Smart Glass Market Absolute $ Opportunity
5. Global Smart Glass Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Smart Glass Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Smart Glass Demand Share Forecast, 2019-2026
6. North America Smart Glass Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Smart Glass Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Smart Glass Demand Share Forecast, 2019-2026
7. Latin America Smart Glass Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Smart Glass Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Smart Glass Demand Share Forecast, 2019-2026
8. Europe Smart Glass Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Smart Glass Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Smart Glass Demand Share Forecast, 2019-2026
9. Asia Pacific Smart Glass Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Smart Glass Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Smart Glass Demand Share Forecast, 2019-2026
10. Middle East & Africa Smart Glass Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Smart Glass Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Smart Glass Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Smart Glass Market: Market Share Analysis
  11.2. Smart Glass Distributors and Customers
  11.3. Smart Glass Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Vision Systems
     11.4.2. ChromoGenics
     11.4.3. Gauzy Ltd.
     11.4.4. Corning Inc.
     11.4.5. Gentex Corp.
     11.4.6. Kinestral Technologies, Inc.
     11.4.7. Guardian Industries
     11.4.8. Nippon Sheet Glass C

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