Press release
Smart Glass Market 2024 - By Size, Industry Scope, Global Share, Key Country Analysis And Forecast To 2033
Smart Glass Market
Smart Glass Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $11.51 Bn In 2028 At A CAGR Of 11% :
The smart glass market size has grown rapidly in recent years. It will grow from $6.71 billion in 2023 to $7.57 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to rapid technological advancements, focus on energy efficiency, adoption in the construction sector, advancements in IoT integration, demand in the automotive industry.
The smart glass market size is expected to see rapid growth in the next few years. It will grow to $11.51 billion in 2028 at a compound annual growth rate (CAGR) of 11%. The growth in the forecast period can be attributed to advancements in smart glass technologies, awareness of energy efficiency, integration with iot and smart technologies, technological advancements, government regulations and initiatives. Major trends in the forecast period include technological advancements, focus on energy efficiency, integration with IoT and smart home systems, expanding application scope.
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Smart Glass Market Major Segments
The smart glass market covered in this report is segmented -
1) By Type: Electrochromic, Suspended Particle Device (SPD), Liquid Crystal, Passive, Other Types
2) By Control System: Manual, Remote, Mobile-based, Voice-based, Other Control Systems
3) By End User: Transportation, Construction, Power Generation, Other End Users
Key Driver - Increasing Construction Industry Driving Growth Of Smart Glass Market
The growing construction industry is expected to propel the growth of the smart glass market going forward. The construction industry encompasses all activities related to the planning, designing, building, and maintenance of structures and infrastructure. The construction industry is growing due to population growth, urbanization, economic development, infrastructure projects, technological advancements, and a focus on sustainability. Smart glass can contribute to creating more sustainable, comfortable, and technologically advanced buildings, making it an attractive option for the construction industry. For instance, according to the U.S. Census Bureau, a US-based government agency, the total construction spending in 2022 was $1,840.9 billion, while in 2023, it increased to $1,978.7 billion, marking a 7.0% rise. Therefore, the growing construction industry is driving the smart glass market.
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Prominent Trend - Revolutionizing Smart Glass With Integrated Augmented Reality (AR) Technology For Enhanced User Experience
Major companies operating in the smart glass market are focusing their efforts on introducing intelligent and advanced solutions, such as smart privacy glass solution to gain a competitive edge in the market. A smart glass privacy solution is a technology that allows glass or other transparent materials to switch, on demand, from clear to shaded or opaque state. For instance, in November 2023., Kolbe, a US-based window and glass manufacturer in collaboration with Gauzy Ltd., an Israel-based smart glass and ADAS technologies company, has launched a smart privacy glass solution for single-family homes. This breakthrough switchable privacy glass technology incorporates premium polymer dispersed liquid crystal (PDLC) films between glass panes, resulting in smart glass that can switch from opaque to transparent with the application of power. Homeowners can use a wall-mounted touch panel, remote control, or home automation system to adjust the privacy and shading of their windows and doors. This cutting-edge technology provides customizable privacy options and is available in white or gray on select Kolbe window and door products such as VistaLuxe WD LINE direct sets, ultra series casements, awnings, swinging doors, and forgentsSeries all glastra cases.
Smart Glass Market Players
Major companies operating in the smart glass market are Huawei Technologies Co. Ltd., Hitachi Chemical Co. Ltd., General Electric Company, Compagnie de Saint-Gobain S.A., Honeywell International Inc., Ericsson, Merck Group, PPG Industries Inc., AGC Inc., Polytronix Inc., ADT Inc., VELUX Group., Gentex Corporation, Switch Materials Inc., AGP eGlass, Kore Wireless Group, View Inc., Intevac Inc., Kinestral Technologies Inc., Quantum Glass GmbH, SAGE Electrochromics Inc., Soladigm Inc., Gauzy Ltd., Eyrise B.V., Halio Inc., 100Plus Inc., Heliotrope Technologies Inc., Pleotint LLC
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Largest And Fastest Growing Region In The Market
Europe was the largest region in the smart glass market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the smart glass market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Smart Glass Market Report Structure
3. Smart Glass Market Trends And Strategies
4. Smart Glass Market - Macro Economic Scenario
5. Smart Glass Market Size And Growth
…..
27. Smart Glass Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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