Smart Glass Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Smart Glass Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global smart glass market size reached US$ 5.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.0 Billion by 2028, exhibiting a growth rate (CAGR) of 11.2% during 2023-2028.

Smart glass is a superior-grade glazing glass that is manufactured by arranging and laminating switchable acrylic polycarbonate films. These layers include liquid crystals that filter the level of brightness, heat, and voltage entering through lenses. Smart glass provides instant privacy and enough natural light, prevents ultraviolet (UV) radiations, reduces glare, allows easy cleaning, and enhances the aesthetic appearance of the infrastructure. Along with this, it is secured, easy to install, aesthetically appealing, and requires minimal operational costs; therefore, it is used as electrochromic and envelope glass across various power generation and commercial buildings. Currently, smart glass is available in varying technologies, including thermochromic, photochromic, and suspended particle devices (SPD).

Smart Glass Market Trends:

One of the key factors driving the market growth is the ongoing construction activities and the increasing infrastructural projects, which, in turn, have facilitated the widespread installation of smart glass in various residential and commercial complexes. Such products exhibit energy-saving capacity, which further helps reduce the energy consumption on heating, ventilation, and air conditioning (HVAC) systems. In line with this, the implementation of various green building initiatives by governments, owing to the rising environmental concerns, has further supplemented the product demand to reduce overall carbon footprints. Additionally, considerable expansion in the automotive industry and the escalating need for luxurious vehicles have prompted manufacturers to incorporate smart glass in sun visors, sunroofs, windshields, and rear-view mirrors, which is contributing to the market growth. Moreover, the extensive utilization of suspended particle devices (SPD) glass in the aerospace industry to offer improved aircraft performance, acoustic insulation, and superior heat rejection is impelling the market growth. Apart from this, the advent of floor-to-ceiling glass windows and the uptake of three-dimensional (3D) designs prepositions to ensure optimum thermal insulation are creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global smart glass market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology, control mode and application.

Breakup by Technology:

Thermochromic
Photochromic
Electrochromic
Suspended Particle Device (SPD)
Polymer Disperse Liquid Crystal (PDLC)
Others

Breakup by Control Mode:

Dimmers
Switches
Remote Control
Others

Breakup by Application:

Architectural
Transportation
Consumer Electronics
Power Generation

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being AGC Inc., Asahi India Glass Limited, ChromoGenics AB, Compagnie de Saint-Gobain S.A., Diamond Glass Limited, Gauzy Ltd, Gentex Corporation, Halio Inc., Polytronix Inc., Research Frontiers Inc. and View Inc.

Key Questions Answered in This Report:

How has the global smart glass market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global smart glass market?
What are the key regional markets?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the control mode?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global smart glass market and who are the key players?
What is the degree of competition in the industry?