Global Smart Glass Market By Technology (Electrochromic, Thermochromics, Photochromic, Suspended Particle Devices (SPD), and Polymer Dispersed Liquid Crystal (PDLC)), By Application (Architectural, Consumer Electronics, Power Generation, and Transportation), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Smart Glass Market Overview

The global market for smart glass was valued at USD 6,013 million in 2021. It is projected to grow at a CAGR of 11.2% between 2023 and 2032. Market expansion is expected to be driven by the growing popularity of energy-conservation measures such as green buildings and eco-friendly structures. Market expansion is expected to be influenced by favorable regulatory conditions that provide tax and financial benefits.

Global Smart Glass Market Scope:

Technology Analysis

In 2021, the electrochromic glass segment accounted for an impressive 84.1% share. This is due to many benefits, including the high blocking ratio of UV and IV radiations, low driving current, and the ease of integration with large glass panels. Electrochromic glass can also be tinted and opaque to modify the heat and transmit light according to the circumstances. These glasses are used in many places, including hospitals, schools, commercial spaces, and retail outlets.

Due to the high UV-ray resistance of SPD smart glasses, the Suspended Pixel Device (SPD), the smart glass segment is expected to see the highest CAGR at around 16.2% through 2032. These glasses can change from transparent to dark in seconds and provide precise, instant light control. These glasses also feature exceptional optical quality, effectively controlling the sun’s glare. Most electronic devices use polymer dispersed liquid crystal (PDLC) glass. Also known as magic glass, switchable glass, or privacy glass. This technology is used primarily in offices and homes to provide privacy and ample light. It is applicable in many dynamic sectors such as aviation, marine, and architecture. The increasing interest in ‘Green Energy Resources’ is driving further demand for PDLC smart glasses technology.

Application Analysis

In 2021, the transportation application segment held a significant market share of approximately 48.4%. Further, the transportation segment can be divided into automotive, marine, and aircraft. Smart glass has seen a significant increase in sales in the automotive sector. To keep up with the rising demand, market players are urging their competitors to expand their product range in this segment. In September 2021, BMW, the automotive giant, introduced its BMW iVision Circular Show car, which was equipped with an advanced headlight made using the SPD LCG Tech., developed by Gauzy Ltd.

Smart glass technology is a popular choice for commercial offices and corporate headquarters. They help to reduce costs while increasing workplace productivity. In the coming years, the construction industry will be more aware of the importance of solar control, self-cleaning, and low-emissivity glasses. The growth of the architectural sector is strongly influenced by the increasing number of infrastructure projects and restoration and renovation activities in commercial and residential spaces.

Кеу Маrkеt Ѕеgmеntѕ

By Technology

• Electrochromic
• Thermochromics
• Photochromic
• Suspended Particle Devices (SPD)
• Polymer Dispersed Liquid Crystal (PDLC)

By Application

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

Market Dynamics:

Market growth will be aided by the expanding construction industry and the increasing investment in infrastructure projects. Over the next few years, the market will see lucrative growth opportunities due to consumers’ increasing preference for glass over bricks or cement walls. Manufacturers will also benefit from the growing popularity of large, floor-to-ceiling glass windows.

The smart glass will be in high demand due to the ongoing worldwide renovation and replacement activities. The Department of Energy (DoE) estimates approximately 20 million square footage of residential windows in the United States alone and about 500 million square footage of commercial windows in the sector. Most of these buildings were built before ASHRAE standards were established. These standards address indoor air quality, thermal comfort, and energy conservation. The market for retrofitting such buildings in the U.S. is expected to be a huge opportunity. However, the market might be affected by factors like high base costs and lack of information regarding product benefits.

Due to the temporary closures of supply chains and assembly plants worldwide, the COVID-19 crisis significantly impacted the market outlook. The second quarter of 2020 saw a drop in automotive sales of around 46.2%, particularly in Europe. This affected the overall demand for smart glasses. After the pandemic, construction activity was temporarily halted. This resulted in a decrease in demand for glass. The most severe effects of the COVID-19 crisis on Europe were felt in Italy, France, and Luxembourg, where construction activity declined by 80.1% and 65.3%, respectively, from February 2020 to April 2020.

Regional Analysis

North America held a dominating share in the smart glass market of 33.2%. This is due to the availability and affordability of value-added products such as laminated glazing and the creation of energy conservation regulations in the region. Regional companies are offering products that meet consumer needs.

Halio, Inc., for instance, presented its AI-based smart glasses solution at CES 2022. It offers speed, responsiveness, tint color, uniformity, clear and tint colors, and cloud-based technology to enable autonomous operation. The smart glass will also be in demand due to the increasing use of electric cars integrated with advanced technologies. Asia Pacific will see the greatest CAGR of 13.2% by 2032, as it offers remarkable growth opportunities for the transportation sector. The region’s market is expected to expand due to rising disposable income and increased demand for luxury cars. The region’s growing awareness of energy conservation is expected to encourage the use of energy-efficient air conditioners and windows.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Major market players emphasize developing innovative offerings to reach large customer bases and maintain a competitive edge. Gentex Corporation, for example, is constantly innovating and improving its dimmable automobile mirrors. The company invests heavily in research and development.

Many companies have formed strategic alliances, partnerships, or acquisitions to gain a strong market position. NSG Group, for example, announced in 2021 a partnership with Cohda Design Limited (UK) to develop glass applications that can power devices without using electric wires. The following are some of the major players in smart glass markets worldwide:

Маrkеt Кеу Рlауеrѕ:

• AGC Inc.
• ChromoGenics
• Corning Incorporated
• Gauzy Ltd.
• Gentex Corporation
• Guardian Industries
• Kinestral Technologies Inc.
• Nippon Sheet Glass Co. Ltd.
• PPG Industries, Inc.
• RavenWindow
• Other Key Players

For the Smart Glass Market research study, the following years have been considered to estimate the market size: