Smart/Switchable Glass Market Size USD 7,550 Million by 2028

The smart/switchable glass market outlook remains positive, driven by increasing construction, rising window replacements, green building trends and technology advancements. This article provides a comprehensive smart glass market analysis including size, share, latest trends, drivers, challenges and key companies.

Smart glass, also known as switchable glass, is a type of glass that can be switched between transparent and opaque states. It is made up of two or more layers of glass with a liquid crystal solution sandwiched in between. When an electric current is applied to the liquid crystal solution, it changes its state from opaque to transparent. Smart glass is a relatively new technology, but it has the potential to revolutionize the way we design and build our world.

Smart glass has a variety of potential applications, including:
● Privacy: Smart glass can be used to create private spaces in public areas, such as offices and hotels.
● Security: Smart glass can be used to create secure areas, such as data centers and banks.
● Energy efficiency: Smart glass can be used to control the amount of light that enters a building, which can save energy on heating and cooling costs.
● Aesthetics: Smart glass can be used to create unique and interesting architectural features.

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Smart/Switchable Glass Market Statistics and Highlights:

● Smart glass market size to hit USD 7.55 billion by 2028, rising from the value of USD 4.65 billion in 2020 progressing at a CAGR of 6.5% during 2021-2028.
● North America captured dominant revenue share in 2021.
● Electrochromic technology accounted for big share among technologies in 2021.
● Surging construction and infrastructure activities are steering the market growth.

Analysis of Key Smart/Switchable Glass Market Dynamics:
The smart/switchable glass market is expected to grow significantly in the coming years, driven by the rising adoption of smart glass in construction, automotive, and marine applications. Smart glass offers a number of benefits over traditional glass, including glare control, heat reduction, and privacy modulation. However, the high cost of smart glass and the lack of product awareness are some of the key challenges that are restraining the market growth. Ongoing efforts to improve the durability and abrasion resistance of smart glass are expected to create new opportunities for the market in the future. The construction application is expected to be the largest market for smart/switchable glass, followed by the automotive and marine applications. Some of the key players operating in the smart/switchable glass market are Saint-Gobain, Gentex Corporation, Corning Incorporated, Asahi Glass Co., Ltd., and SageGlass.

Smart/Switchable Glass Market Latest Innovations and Trends:

● Self-cleaning and antibacterial smart glass to reduce maintenance requirements.
● Increasing popularity of switchable projection glass walls in modern architecture.
● Integration with sensors, IoT connectivity for centralized control and automation.
● Use of machine learning algorithms to optimize transmission based on environmental conditions.
● Focus on enhancing abrasion resistance and durability.

Major Factors Propelling Smart/Switchable Glass Market Growth:

● Rising infrastructure projects, new construction and window replacement activities globally.
● Increasing adoption of green building design principles and energy-efficient products.
● Advancements in electrochromic, SPD and PDLC technologies enhancing features and capabilities.
● Growing consumer inclination towards aesthetics, privacy and HVAC efficiency in residential buildings.
● Supportive government regulations promoting green buildings and energy conservation.

Key Challenges Hindering Smart/Switchable Glass Market Potential:

● High costs of smart glass compared to conventional glass types.
● Lack of sufficient awareness among consumers regarding features and benefits.
● Solar control and heat retention limitations in extremely cold climates.
● Availability of alternatives such as curtains, films and shades at lower price points.
● Technical challenges involved in large panel fabrication and window integration.

Segmentation:

Market By Technology
● Polymer Dispersed Liquid Crystal (PDLC) Glass
● Suspended Particle Devices (SPD) Glass
● Thermochromic
● Photochromic
● Electrochromic (EC) Glass
● Other

Market By End-User Industry
● Architecture & Construction
● Automotive & Transportation
● Aerospace & Defense
● Electronics
● Other

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Regional Smart Glass Market Outlook:

North America currently leads the global smart glass market, with a big share. The Asia Pacific and Europe markets are expected to exhibit high growth over the coming years, at good CAGRs, respectively. The Middle East & Africa region also presents strong growth opportunities. The growth of the smart glass market is being driven by the increasing demand for energy-efficient and sustainable buildings, the growing popularity of smart homes and offices, and the increasing use of smart glass in automotive and transportation applications.

Leading Companies Offering Smart Glass:

Major players include View, Inc., Saint-Gobain, Gentex Corporation, AGC Inc., NSG Group, TaiwanGlass, Polytronix, Smartglass International, Pleotint, and JiuJiang Lida Technology Co., Ltd., among others.

In summary, driven by construction growth and sustainability trends, the smart glass market is primed for robust growth globally through 2028.

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This release was published on openPR.