Global Smart Glass And Smart Window Market size is expected to reach $6.9 billion by 2022, growing at a CAGR of 14.3% from 2016 to 2022

Global Smart Glass And Smart Window Market size is expected to reach $6.9 billion by 2022, growing at a CAGR of 14.3% from 2016 to 2022. Smart glass and smart window or switchable glass and switchable window are glasses whose light transmission properties are changed when voltage, light or heat is applied. Usually, the glass changes from translucent to transparent, blocking some (or all) wavelengths of light to letting light pass through. When smart glass is installed in the envelope of buildings, it creates climate adaptive building shells, with the ability to save heating cost, air-conditioning and lighting and avoid the cost of installing and maintaining motorized light screens or blinds or curtains. Blackout smart glass blocks 99.4% of ultraviolet light, reducing fabric fading; for SPD-type smart glass, this is achieved in conjunction with low emissivity coatings.

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The main fields that smart glass manufacturers are interested in would be automotive industry, commercial buildings, and personal property buildings. The main fields of competition would be price, functions, technology, efficiency, and safety. Price of smart glass differs from 85-265 USD per square meter from different suppliers and different manufacturing technologies. Functions differ from few switching modes to be controlled manually till automatic sensoring of the light and controlling automatically. Technology differ by manufacturing of smart glass and the functions it provides. For example OLED, SPD, LC (liquid coating), etc. The level of efficiency differs from the very electricity consuming materials till very efficient and power saving materials. Safety includes water resistance implementation, the risk of electroshock, etc.

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The significant impacting factors of smart glass and smart window market include surging demand for smart glass based products in construction sector, stringent government regulations to control risk-oriented incidents and smart glass compensating artificial expenditure. Along with these factors, the market is also influenced by the new advancements in the technology. The above-mentioned factors collectively created opportunities for the market growth while factor such as high price of smart glass limiting the usage and lack of awareness on long-term benefits are posing limitations in the market. However, each factor would have its definite impact on the market during the forecast period.

Active glasses accounted for the highest share, i.e., 88.0%, of the overall smart glass and smart window market size in 2015, owing to increasing demand of smart glass based products in construction sector along with its influential benefits in aircraft and marine areas. It is playing a significant role in automotive field too where the luxurious car manufacturing companies are going for smart glass to be incorporated in their vehicles.

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