Smart Glass Market to Grow at 17.2% CAGR to Reach $11.73 Billion by 2027 Led by Gauzy, HalioGlass, TETA Glass, Scienstry, ToughGlaze, NODIS, Glass Apps, Kinestral Technologies, Viridian, Active Glass Technologies, ChromoGenics, Ravenbrick, InnoGlass

The global smart glass market to grow at a CAGR of 17.2% during (2019-2027) to reach $11.73 Billion by 2027 from $2.85 Billion in 2018 driven by the increasing need for energy efficiency and better utilization of natural light and Proliferation of IoT and connected devices.

APAC is considered to be the fastest growing economic region. The dominance of the region is majorly attributed to the presence of large numbers of leading smart glass manufacturers. Almost 60% of the world’s population lives in the Asia Pacific region, China and India being the most populated countries. More than 2 billion people live in the urban areas. Owing to these reasons, the density of buildings and infrastructural construction properties has reached to a new high in the region.

Growing infrastructures and population have put pressures on the energy demands in the region, and therefore energy efficiency is one of the prime focus areas of Governments of respective countries in the APAC. Also, many of the cities in the region are technological hubs, where increasing number of companies are resulting in increasing infrastructural constructions. Owing to this, there has been rapid adoptions of innovative products such as smart glass in the recent infrastructural constructions. Thus, the smart glass market is anticipated to witness growth in the APAC region.

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Global Smart Glass Market Key Company Profiles:

• Artratio S.L.
• Asahi Glass Co. Ltd.
• Compagnie de Saint-Gobain S.A
• Corning, Incorporated
• Gentex Corporation
• Hitachi Chemical Co. Ltd.
• Pleotint LLC
• Polytronix, Inc.
• Research Frontiers Incorporated
• Smartglass International Ltd.

Market Insights:

Smart glass aids in dynamically changing the tint of the glass in order to control the amount of heat/light that penetrates in a building. They are also used for creating on-demand private space, especially for offices. The smart glass windows provide 45 to 70% more energy efficiency in comparison with the dual-pane standard glass. The smart windows help in providing more savings and help in the reduction of greenhouse gas emissions. The smart glass windows that are used in commercial and residential buildings are multi-functional; these windows help in maximizing the amount of sunlight and controlling the transfer of heat in and out of the building. However, the loss of energy through the doors and windows account about 50% of the energy consumption in the buildings. In order to make the buildings more energy efficient, the engineers and scientists have collaborated with the architects for developing advanced window designs.

The advent of IoT has enabled each device to be connected over the internet and the rising adoptions globally would result in more than billions of devices connected over the internet. Huge populations of India and China are further influencing the growing penetration of smart phones and other consumer electronic devices. Furthermore, apart from the individuals, businesses across almost all industry verticals have realized the importance of IoT, communications, and sensors, and have therefore, paved way for integration of sensors into the smart glass. Thus, this factor is expected to trigger the growth of the smart glass market in the coming years.

Technology Insights:

The global smart glass market by technology is segmented into electrochromic, polymer dispersed liquid crystals (PDLC), suspended particle device (SPD), photochromic, thermochromic, and others. The most prominent type in smart glass market accounted for Suspended particle device segment which is further expected to dominate in the forecast period. Electrochromic segment held the second largest market in 2018, and is anticipated to continue its growth during the forecast period from 2019 – 2027.
Application Insights:

The smart glass market is categorized on basis of various application such as commercial, residential, automotive, power generation, aerospace & defense, and others. Commercial application dominated the application segment and the commercial segment is calculated to continue its dominance year on year till 2027. The benefits of smart glass’, when coupled with the increasing investment from various government to enhance their tourism industry and achieve the building energy efficiency targets, is increasing the interest among the builders to adopt smart glass solutions. This factor is driving the smart glass adoption in commercial market in the recent years.

Strategic Insights:

Market Initiatives are referred as most adopted strategies in global smart glass market. Few of the recent market initiatives are listed below;

2019: Research Frontiers Inc. (Nasdaq: REFR) and Vision Systems launched a development program together to produce SPD-Smart light-control film used in Vision Systems’ electronically dimmable windows (EDWs). The performance and reliability of these Vision Systems’ products surpass all other products on the market, including “electrochromic” EDWs.

2018: Hitachi Chemical unveiled its plan to develop new light integrators for smaller smart glass. The company is looking for enhancing its offerings in optical plastics for smart glass by coming out with new optical integrators. Hitachi’s new product possesses the same light efficiency provided by a dichroic mirror and even in strong external light outdoors achieves high visibility. Moreover, the company sees the innovative technology as a substitute for the configuration of existing smart glass.

2017: AGC Asahi Glass, a world-leading manufacturer of glass, chemicals, and high-tech materials, and Kinestral Technologies, maker of Halio™ smart-tinting glass, today announced the creation of three joint venture companies that will sell, distribute, and service Halio to the global market. Formed to accelerate the adoption of Halio, the new ventures – Halio North America, Halio International, and Halio China – will be the exclusive sales and marketing agents for Halio smart-tinting glass in the commercial and residential housing industries.

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GLOBAL SMART GLASS MARKET SEGMENTATION:

Global Smart Glass Market - By Technology
• Electrochromic
• Polymer Dispersed Liquid Crystal (PDLC)
• Suspended Particle Device (SPD)
• Thermochromic
• Photochromic
• Others

Global Smart Glass Market - By Application
• Commercial
• Residential
• Power Generation
• Transportation
• Automotive
• Aerospace & Defense
• Others

Global Smart Glass Market - By Geography
• North America
o U.S.
o Canada
o Mexico

• Europe
o France
o Germany
o Italy
o Russia
o UK
o Rest of Europe

• Asia Pacific (APAC)
o India
o China
o Japan
o Australia
o South Korea
o Rest of APAC

• Middle East & Africa (MEA)
o South Africa
o UAE
o Saudi Arabia
o Rest of MEA

• South America (SAM)
o Brazil
o Argentina
o Rest of SAM

Key Benefits of Buying this Research Study:
1. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Smart Glass Market
2. Highlights key business priorities in order to assist companies to realign their business strategies
3. The key findings and recommendations highlight crucial progressive industry trends in the Smart Glass Market, thereby allowing players across the value chain to develop effective long term strategies
4. Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
5. Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
6. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
7. Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.

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This release was published on openPR.