The global Smart Glass market size is expected to be worth around US$ 8.5 billion by 2030, according to a new report by Vision Research Reports.
The global Smart Glass market size was valued at US$ 4.5 billion in 2020 and is anticipated to grow at a CAGR of 6.10% during forecast period 2021 to 2030.
The growing demand across the transportation and architectural sectors is expected to fuel the market growth over the forecast period. Moreover, the growing trend of using smart technology in new buildings has propelled the demand for smart glass products in the architectural sector.
Modern-day glass solutions offer on-demand privacy in the form of dynamic glazing or smart glass. The technologically-advanced products can turn from clear to opaque in no time. Furthermore, smart glass can help transform the indoor experience by providing an outside view and preserving environmental sustainability. As a result, the demand for smart glass in hospitals, restaurants, and commercial buildings is soaring. Moreover, residential buildings are getting renovated to make them more energy efficient, thereby providing new business avenues for glass manufacturers.
The liquid crystal or PDLC smart glass technology segment is expected to grow at a substantial rate over the forecast period. The growth can be attributed to the operational feasibility of the technology offering a fast response time and optical translucency. Ultra-fast switching speed, low power consumption, and low haze are other benefits promoting manufacturers and product developers to increase the usage of liquid crystal glass in windows and partition walls. High stability for heat, UV, and moisture, low driving voltage, and long lifetime are the other factors driving the demand for PDLC smart glass.
Power generation is a key emerging application of smart glass technology. Researchers from Shanghai University have discovered the ideal material for smart windows that can convert sunlight into electricity. Smart windows designed to generate electricity could reduce the buildings' air-conditioning demand, making a sizeable environmental impact. Thus, architects and urban planners are increasingly focusing on the adoption of smart glass technology in new buildings.
The global market is highly competitive, with each manufacturer striving to provide superior products by differentiating them either on the basis of quality or service. Since smart glass is significantly costlier compared to its legacy counterpart, it is vital to ensure a good value proposition to gain market share. Smart glass manufacturers are focusing on integrating voice-activated controls in their products for window tinting. SAGE Electrochromics, Inc., a subsidiary of Saint-Gobain S.A., and Kinestral Technologies, Inc. are providing Amazon echo voice-activated technology for smart glass.
The COVID-19 pandemic had an unprecedented impact on several industries. The market is adversely impacted due to the temporary closure of assembly plants across the globe. In the second quarter of 2020, automotive sales were down by almost 45% worldwide, especially in Europe, impacting the overall smart glass demand. Moreover, trade restrictions across national and international boundaries and other trade limitations have affected the glass industry's global supply chain, resulting in lower sales activity. The demand for building glass also witnessed a massive drop due to the slowdown of the construction industry.
Government initiatives such as the Coronavirus Aid, Relief, and Economic Security (CARES) Act passed by the U.S. Congress provided some relief for businesses that were impacted by the pandemic. Through special loans, the act aimed to provide financial relief to businesses and individuals facing economic challenges due to the pandemic. The act has helped several small- and medium-sized companies stay afloat amid the pandemic.
The electrochromic glass segment captured the largest share of over 83.0% in 2020. Electrochromic glass can be tinted, colored, and turn opaque easily, modulating heat and transmitting light according to the situation. Factors such as low driving voltage, high blockage ratio of UV and IV rays, and the ability to easily integrate with large glass panels are expected to drive the electrochromic glass segment over the forecast period. Educational buildings, commercial spaces, hospitals, and retail outlets are some of the key application areas of electrochromic glass.
The suspended particle device (SPD) smart glass segment is expected to register the highest CAGR over the forecast period. SPD glass provides instant and precise light control and can turn from transparent to dark within 1-3 seconds. This glass possesses an exceptional optical quality that can effectively control the glare from sun rays. Besides, SPD smart glass promises high stability against UV rays, providing enough natural lighting.
Polymer dispersed liquid crystal (PDLC) glass finds substantial use in electronic devices. Sometimes, PDLC glass is referred to as a magic glass, intelligent glass, switchable glass, or privacy glass. The technology finds dynamic applicability at homes and offices, providing privacy without compromising on the light. Moreover, the technology finds applicability in dynamic sectors, such as automotive, aircraft, marine, and architecture. PDLC glass is deployed in places where privacy is a key requirement. The increasing emphasis on the usage of ‘Green Energy’ resources drives the demand for PDLC smart glass technology.
The transportation application segment held the largest share of 49.5% in 2020. In 2019, over 45 billion electrochromic auto-dimming mirrors were sold globally. Increasing energy concerns and environmental consciousness in the transportation sector are creating promising growth prospects for the market. The transportation application segment is sub-segmented into automotive, aircraft, and marine. The substantial growth of the automotive segment is attributed to the increased adoption of smart glass by luxury automobile manufacturers. Airbus SE, The Boeing Company, Beechcraft Corporation, Embraer S.A., and Bombardier Inc. are preferring electronically-dimmable windows over their conventional counterparts.
Commercial office buildings and corporate headquarters are the leading adopters of smart glass technology as they can achieve a notable amount of cost-saving in energy consumption while intensifying workplace productivity. Low-emissivity glasses, self-cleaning glasses, and solar control glasses are poised to emerge as prominent offerings for the construction sector in the near future. Moreover, the rising number of infrastructure projects and numerous restoration and renovation activities in commercial and residential buildings are the key factors contributing to the growth of the architectural segment. CertainTeed Corporations’ headquarters in Malvern, U.K., Advent, LLP’s commercial office in Omaha, U.S., Sukup Manufacturing Co.’s headquarters in Sheffield, U.K., and Microsoft’s corporate office in Lisbon, Portugal are some of the commercial buildings where smart glass windows and partitions have been installed.
North America dominated the smart glass market in 2020 by capturing a revenue share of over 33.0%. The growth is attributed to high disposable income, value-added product offerings, such as laminated glazing, and energy conservation regulations for buildings. The increasing adoption rate of electric cars with advanced integrated technologies in the region is also anticipated to boost the demand for smart glass in the automotive sector. For instance, the Office of Energy Efficiency & Renewable Energy in the U.S. has collaborated with Sage Electrochromics, Inc. (Saint-Gobain) to develop a smart glass that can prevent buildings from glaring, fading, and heat gain, which is aiding in the regional market growth.
Asia Pacific is anticipated to register the highest CAGR during the forecast period. The regional market presents a promising growth opportunity in the transportation sector. The growing awareness about energy conservation in the region is expected to drive the adoption of innovative technologies, such as energy-efficient windows and energy-efficient air-conditioners. Moreover, rising disposable income and increased penetration of luxury automobiles are driving the regional market.
Kinestral Technologies, Inc.
Nippon Sheet Glass Co., Ltd.
PPG Industries, Inc.
Research Frontiers Inc.
Showa Denko Materials Co., Ltd.
Smartglass International Limited
Polymer Dispersed Liquid Crystal (PDLC)
Suspended Particle Devices (SPD)
The Smart Glass market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Smart Glass market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Smart Glass market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Smart Glass market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Smart Glass market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Smart Glass capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Smart Glass by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Smart Glass market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Smart Glass market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Smart Glass market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Smart Glass industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Smart Glass market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Smart Glass market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Smart Glass market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Smart Glass market. These factors have benefited the growth of the global market for Smart Glass. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Smart Glass. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Smart Glass are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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