Smart Glass Market was Valued USD 3,329 million in 2019 and Growing at a 12.4% CAGR during 2020-2027 | Size, Industry Report & Forecast

Smart Glass Market

The Smart Glass Market was estimated around 3,329 million in 2019 and is expected to grow at a CAGR of 12.4% over the forecast period (2020-2027).

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The factors driving the growth Smart Glass Market includes rise in the construction of green building around the world, growing consumers preference for glass over bricks or cement walls, increase in the renovation activities and rapid growth in the construction industry. According to the report published by Statista, the market size of Green Building Market in the United States has increased from around USD 61 billion in 2011 to USD 81 billion in 2014, which is expected to accelerate the market growth in the approaching years. Moreover, the rise in Government's expenditure on infrastructure projects, fall in the prices of electrochromic, energy saving capabilities of smart glass, increasing use of smart glass in the automobile industry and growing adoption of advanced technologies by manufacturers, are some of the additional factors supplementing the Smart Glass Market size. In addition, the increasing investments by leading players on research and development, rising penetration of smartphones and tablets, rapid urbanization, and improvements in the living standards, are further contributing towards the market growth.

However, the growth of Smart Glass Market is because the smart glass is comparatively expensive than the conventional glass.

The major players operating in the market are Gentex Corporation, Guardian Glass LLC, Showa Denko Materials Co., Ltd., Asahi India Glass Limited, ChromoGenics, Corning Incorporated, Kinestral Technologies, Inc., DuPont, e-Chromic Technologies, Inc., and Innovative Glass Corporation, among others.

Based on Technology, the Electrochromic segment is predicted to expand at a significant CAGR during the forecast period

As per the Smart Glass Market Forecast, high blockage ratio of UV and IV rays, along with increasing use of electrochromic glass in the hospitals and commercially spaces, are some of the factors responsible for the segment's growth.

Based on Application, the Transportation segment is projected to grow at a remarkable CAGR over the forecast period

According to the Smart Glasses Market Analysis, rise in the launch of innovative luxury vehicles by leading car manufacturers, is the major factor propelling the growth of the segment.

Based on Region, the North American region is anticipated to capture the largest market share during the forecast period

Government regulations mandating the installation of smart glasses in the buildings, growing demand for luxury cars, rapid industrialization, rising population growth rates, improved living standards and high per capita incomes, are some of the important factors augmenting the market growth in North American region.

Key Developments

In 2018, Guardian Glass LLC introduced integrated shading solutions for window and doors and is planning to launch its product in late 2019.
In 2017, Asahi India Glass Limited entered a joint venture with Kinestral Technologies, Inc, to create three joint venture companies, which will sell, distribute, and service Halio in the International markets.

Market Segmentation

Segmentation by Technology

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

Segmentation by Application

Architectural
Transportation
Automotive
Aircraft
Marine
Consumer Electronics
Power Generation

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC
North America

United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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This release was published on openPR.