Industry Outlook

Smart glass is electronically switchable glass that is also known as switchable glass, privacy glass, electric glass, and intelligent glass. These are technically advanced type of glass which are coming to mainstream product line from being niche product.

Rise in construction activities across the globe, coupled with high investments in smart and green infrastructure along with increase in automotive production are driving the demand for smart glass market. Further, growing renovation and restoration activities in both residential and commercial buildings are boosting the growth of smart glass market worldwide as the existing buildings lack infrastructure, which is energy-efficient. As an alternative to traditional glass, smart glass manufacturers are ready to tap-in the enormous opportunities available in the smart glass market. In 2016, Mercedes-Benz introduced the Suspended Particle Devices technology (SPD technology), which is a switchable glass assembly that offers different range of light to transmit. BMW AG and Daimler AG have also incorporated smart glass in windows and sunroofs in premium cars. LG incorporated the smart glass technology in its latest refrigerator, which features dark glass panel that pops up light as an when it receives an outside stimulus to become transparent to reveal contents of the fridge.

Electrochromic expected to dominate the market in upcoming years

By technology, global smart glass market segmented into suspended particle display, electrochromic, liquid crystal, photochromic, thermochromic and micro-blinds among which electrochromic segment held the largest market share in 2017 and expected to dominate the market during the forecasted period of 2018 to 2026. This mainly attributed to increase in usage of smart windows for architectural and transportation applications for which it has earned several investments by the key market players.

Architecture expected to be the fastest growing sector for smart glass applications

On basis of application, global smart glass market is segmented into architecture, transportation, power generation plants (solar), consumer electronics and others among which architecture is expected to be the fastest growing sector. Smart glass used for architecture enhances the aesthetic value while reducing cooling, heating, and lighting costs. In the architecture application, smart glasses are used in partitions, windows, doors, elevators and skylights. Different establishments using smart glass are schools and colleges, corporate offices, hospitals, residential buildings, malls supermarkets etc.  Hence, higher usage of smart glass in variety of establishments helped in fueling the growth of global smart glass market. Furthermore, increase in use of smart glass in sun roofs, sun visors and rear windows parts in the premium cars along with heavy demand for smart glass from aviation industry is fueling the overall growth of global smart glass market.

Rapid demand for smart glass in Asia Pacific projected to drive the market growth

Based on geography, global smart glass market is segmented into Europe, North America, Latin America, Asia- Pacific and Middle East & Africa.  In 2017, Europe dominated the market mainly due to developed manufacturing business in countries such as U.K, France and Germany. In addition to this, government initiatives regarding energy harvesting and green buildings have further fueled the growth of smart glass market in prominently in developed regions.  North America followed Europe very closely owing to increasing usage of smart glass in renewable sources such as solar plant. Asia Pacific is considered as the most lucrative region for smart glass market due to rapid economic development of nations such as Japan, China and India. Some developing segments in the region include construction and housing, consumer electronics, transportation and solar energy generation, which are anticipated to boost the demand for smart glass market in the region.

Few major players dominates the global smart glass market

Asahi Glass Company Ltd, Saint Gobain S.A., Corning Incorporated, Pleotint LLC, Polytronix Inc., Ravenbrick LLC, Research Frontiers Inc., Aage electrochromics, Inc., Schott corporation, Smartglass International Ltd. , View Inc. among others are some of the few major players enjoying significant market share in the industry. There is good opportunity for industry consolidation as no single player has expertise in manufacturing all kinds of smart glass technologies that are required by various different end-use industries.

This research report describes leading continents and their major countries, along with profiles of key players operating in overall market and their planned developments. Our report further defines the overall market dynamics such as drivers, challenges, and opportunities prevalent in the market to understand global smart glass market more explicitly. Our in-depth segmentation analysis up to country level highlights revenue pockets and investment opportunities in the market. Key players profiled include Aage Electrochromics, Inc, Asahi glass company Ltd., Hitachi chemicals co., Ltd., Pleotint LLC., Polytronix, Inc., Ravenbrick LLC., Research frontiers, Inc., Schott corporation, Smartglass international Ltd. and View, Inc.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Smart Glass market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Smart Glass market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Smart Glass market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Smart Glass market?
• Which is the largest regional market for Smart Glass market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Smart Glass market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Smart Glass market worldwide?