Global Smart Glass Market Report and Forecast 2023-2028

Global Smart Glass Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global smart glass market reached a value of USD 5.2 billion in 2022. Aided by the surge in the adoption of innovative construction techniques, coupled with the advancements in the automobile industry, the market is projected to further grow at a CAGR of 16.2% between 2023 and 2028 to reach a value of USD 12.1 billion by 2028.

Smart glass, also termed as switchable glass, offers a unique property of changing its light transmission properties when voltage, light, or heat is applied. Predominantly, it is employed in windows, skylights, and partitions. Two main technologies – electrochromic and thermochromic – are pivotal to its function. The technological marvel not only enhances aesthetics but also plays an instrumental role in energy conservation and ensures privacy.

The burgeoning demand for energy-efficient solutions, especially in the architectural and automotive sectors, acts as the primary driver of the global smart glass market growth. As urban areas see rapid development, there is a pronounced shift towards green building initiatives that incorporate sustainable materials, including smart glass, to achieve energy optimisation. This glass variant allows controlled transmission of light, ensuring both thermal and visual comfort, thus, significantly reducing the energy spent on heating, air conditioning, and artificial lighting.

The automotive industry, too, has been quick to capitalise on the benefits of smart glass. With a heightened emphasis on creating energy-efficient vehicles that promise enhanced user comfort, many automakers are increasingly integrating smart glass in sunroofs, windows, and rearview mirrors. This not only adds a sophisticated touch to modern vehicles but also aids in temperature regulation, thereby conserving energy. Over the forecast period, the anticipated increase in demand for electric vehicles are likely to augment the smart glass market demand.

Another sector poised to leverage the capabilities of smart glass is the aviation industry. The incorporation of this glass type in aircraft windows allows passengers to adjust the light intensity according to their preference, enhancing the travel experience.

The entertainment and electronics sectors too are catching on to the smart glass wave. With the rise of Augmented Reality (AR) and Virtual Reality (VR), the demand for advanced display technologies, including smart glass, is skyrocketing. This is evident in the increased adoption of smart glass in AR glasses, VR headsets, and even in innovative retail display units.

Furthermore, the advent of smart homes and interconnected urban spaces is giving a boost to the smart glass market expansion. As the modern homeowner seeks integrated solutions for comfort, security, and energy efficiency, smart glass emerges as a compelling choice for home automation systems. This, in tandem with the push for sustainable urban development, positions smart glass as a frontrunner in the future of construction and urban planning.

Market Segmentation

The market can be divided based on technology, application, and region.

Market Breakup by Technology

• Electrochromic (EC)
• Polymer Dispersed Liquid Crystal (PDLC)
• Suspended Particles Devices (SPD)
• Thermochromic
• Photochromic

Market Breakup by Application

• Construction
• Transportation
• Electronics
• Power Generation

Market Breakup by Region

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

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global smart glass market. Some of the major players explored in the report by Expert Market Research are as follows:

• AGC Inc.
• Compagnie de Saint-Gobain S.A.
• Corning Incorporated
• Gentex Corporation
• Polytronix, Inc.
• Guardian Industries Holdings
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.