Global Smart Window Market Size To Grow At A CAGR Of 16.8% In The Forecast Period Of 2023-2028

The 'Global Smart Window Market Share, Size, Trends, Price, Report and Forecast 2023-2028' by Expert Market Research gives an extensive outlook of the global smart window market, assessing the market on the basis of its segments like technology, type, application, and major regions.

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.

Smart Window Market Share, Size, Trends, Industry Report, Key Players, Major Segments, and Forecast

The key highlights of the report include:

Market Overview (2018-2028)

Forecast CAGR (2023-2028): 16.8%

The global smart window market is expected to register growth during the forecast period on account of the high adoption of smart glass-based products across the automotive and aviation industry. This has further reduced the expenditure on air-conditioning, heating, and lighting. Strict rules by various governments are also likely to enhance the market growth across the world. Diminished prices of electrochromic materials along with an increase in the adoption of innovative technologies as well as advancements in the function of smart glass are likely to create new opportunities in the market growth of smart windows over the coming years. However, the initial high cost of the product is expected to hamper the market growth globally.

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The transportation industry is expected to boost the smart window market growth across the globe on account of the surging environmental concerns, along with the rising emphasis on energy efficiency, and increasing focus on better fuel economy. With the surging use of such windows to reduce energy costs coupled with costs for heating, lighting, and air-conditioning, the market demand for smart windows is expected to fuel over the upcoming years. Moreover, the growing construction activities and increasing usage of smart windows and glasses in residential and commercial buildings across the globe are expected to propel the market demand with the growing popularity of self-dimming window glass technology.

Smart Window Industry Definition and Major Segments

A smart window is described as a technologically evolved window system that can adjust its optical power. Such windows are produced from different materials such as liquid crystals, micro-blinds and various suspended particles. The smart windows are able to turns translucent from transparent to regulate the volume of sunlight as well as heat goes into a room.

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Based on technology, the market is segmented into:

Suspended Particle Devices Light Modulator
Polymer Dispersed Liquid Crystal Devices Scanner
Electro Chromic

By type, the market is classified into:

OLED Glass
Self-Dimming Window
Self-Repairing

By application, the market is categorised into:

Residential
Commercial
Industrial
Transport

Based on region, the market is divided into:

North America
Latin America
Asia Pacific
Europe
Middle East and Africa

Smart Window Market Trends

Geographically, the North America region is expected to witness significant growth in the smart window market share over the forecast period on account of the increase in smart window installations across various offices, homes, and hotels in North America. Rapid technological developments and initiatives by various governments for energy conservation are further supporting the market growth of smart windows in the region. The United States is likely to witness growth in the market of smart windows as the government implements energy efficiency policies. These include mandated requirements, pilot programs, and voluntary goals which are created to reduce electricity usage by utilising electricity more efficiently.

Meanwhile, the Asia Pacific region is anticipated to gain momentum over the coming years in the smart window market growth on account of the adoption of smart windows as well as smart glass for saving electricity and resources in countries like Japan, India, and China. The surging focus on sustainable development along with the rising number of consumers adopting user-controlled windows in buildings is likely to enhance the market growth in the region due to the growing urbanisation in the Asia Pacific region over the upcoming years.

Key Market Players

The major players in the global smart window market report are Heliotrope Technologies, Gentex Corporation, Saint-Gobain, Smart Windows Colorado, Pleotint LLC., and ChromoGenics, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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