smart-glass-mirror-in-automotive-market

Smart Glass/Mirror in Automotive Market By Functionality (Connected, Non-Connected), By Technology (Electrochromic, Polymer Dispersed Liquid Crystal, Suspended Particle Devices, Thermochromic, Photochromic), By Vehicle (Light Commercial Vehicles, Heavy Commercial Vehicles, Passenger Cars), By Applications (Side/Rear View Mirror, Sunroofs, Sidelites/ Backlites, Windshield) - Growth, Future Prospects, and Competitive Landscape, 2024 - 2032

07 Jan 2020 Format PDF icon PPT icon XLS icon Request Sample

Key Market Insights 

"Increasing demand of Sustainable Solution projected to boost the overall demand for smart glass/ mirror in automotive sector"

The global smart glass/mirror in automotive market value was at US$ 1,514.04 Mn in the year 2021 and projected to reach US$ 3,594.1 Mn by 2030, witnessing a CAGR of 10.2% during the forecast from 2023 to 2030. 

Smart mirror is among those futuristic technologies that have paved its way into the world of intelligent automobiles through integration with computer-aided information service. Its distinctive aesthetic and technical attributes have increased its demand among various automobile manufacturers. Despite the sluggish growth of the automotive sector, smart mirror has registered double-digit growth in the past few years. Its protective features from UV and other harmful rays along with its contribution towards energy saving are some of the prime factors contributing towards the escalating growth of smart mirror. 

Technology Analysis 

"SPD held the Largest Revenue Share in the Smart Glass/ Mirror in Automotive Market in the year 2021"

Suspended Particle Devices (SPD) glasses held the largest revenue share in the smart glass or mirror in the automotive market owing to its feature of saving electricity greater than 25%. SPD glasses control solar radiation that automatically reduces HVAC energy consumption. These glasses have an increasing demand in the automotive sector mainly due to favorable government policies regarding energy consumption. For instance, the USA has set a definite standard for the electricity consumption in light-duty vehicles for around 570 to 1140 Tera Watt-hour (TWh).

On the other hand, electrochromic glasses are expected to witness magnificent growth during the forecast period. Its property to offer a high blockage ratio for harmful ultraviolet and infrared rays coupled with reduced response time are some of the prime factors favoring its escalating growth.

Regional Analysis 

"Asia Pacific is projected to garner the Highest Growth during Forecast Period"

In 2021, Europe dominated the global smart glass/ mirror in the automotive market in terms of revenue share as automobile manufacturing is one of the most enduring industries of the region. North America is another prime region contributing to the revenue share of the global market. Increasing demand for smart and connected solutions is the prime reason supporting regional growth.

However, Asia Pacific projected to witness significant growth in the adoption of smart glasses in the automotive sector. The escalating growth of the region is mainly attributed to the high production rate of luxury and autonomous vehicles, especially in China and India. In addition, an increasing trend of alliances between auto manufacturers and technology companies in the Asia region to modify their self-driving solutions is very common these days. Recently, Honda signed an agreement with General Motors Cruise Holdings LLC to develop a new autonomous car. The company also plans to invest US$ 1.15 Mn in the upcoming 12 years plan for the same.

Key Players & Competitive Landscape: 

"Increased research and development with a strong product portfolio in the developed regions"

Global smart glass/ mirror in the automotive market is highly competitive owing to the presence of a few players who specializes in manufacturing all smart glass technologies. Gentex Corporation is one of the leading market players that specializes in manufacturing SPD glasses for automotive. Similarly, Glaston Corp. and AGC Ltd. offer a diverse range of electrochromic and smart-tinting glass respectively. 

These days market competition has fiercely increased due to increasing technology investment by various market players. Each player in the market is actively working on product advancement coupled with regional expansion. The Asia Pacific offers a huge consumer base to the smart glass manufacturers because of which several companies have planned their regional expansion in the Asia Pacific in the forthcoming years. In addition, some players are also involved in the joint venture or partnership activities to strengthen their market position. 

List of Companies Covered:

  • Gentex Corporation
  • Gauzy Ltd.
  • Research Frontiers Inc.
  • Corning Inc.
  • SmartGlass International Ltd.
  • PPG Industries
  • SAGE Electrochromics
  • Hitachi Chemicals Co. Ltd.
  • View Inc.
  • Pleotint LLC.
  • AGC Ltd.

Key Industry Development: 

  • On October 26, 2018, Heliotrope Technologies Inc. and Glaston Corporation introduced NanoEC™ technology at a trade show ‘Glasstec 2018’ in Germany. The technology offers both dynamic aesthetic appearance and competitive price that helps in the mass adoption of electrochromic smart glasses to win the market. 
  • On January 10, 2018, Fisker Inc. launched an Electric Vehicle named Fisker-E-Motion equipped with SPD smart glass roof. The company also announced its plan to introduce smart side windows using SPD smart mirror technology for future vehicle launch. 
  • On December 7, 2017, AGC Ltd. and Kinestral Technologies signed a joint-venture agreement to accelerate the global adoption of ‘Halio’, a smart-tinting glass. 
  • On August 30, 2017, Nissan Technology introduced a new intelligent rear-view mirror in its Armada Platinum model.

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/Mirror in Automotive 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/Mirror in Automotive 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.

ATTRIBUTE DETAILS
Research Period  2022-2032
Base Year 2023
Forecast Period  2024-2032
Historical Year  2022
Unit  USD Million
Segmentation
Functionality
  • Connected
  • Non-Connected

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

Application
  • Side/rear view mirror
  • Sunroofs
  • Sidelites/ Backlites
  • Windshield

Vehicle
  • Light Commercial Vehicles (LCVs)
  • Heavy Commercial Veicles (HCVs)
  • Passenger Cars

 Region Segment (2022-2032; US$ Million)

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • UK and European Union
    • UK
    • Germany
    • Spain
    • Italy
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • Africa
    • Rest of Middle East and Africa

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Smart Glass/Mirror in Automotive 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/Mirror in Automotive market?
  • Which is the largest regional market for Smart Glass/Mirror in Automotive 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/Mirror in Automotive market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Smart Glass/Mirror in Automotive market worldwide?
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