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Smart Windows Global Market Analysis, Trends, Growth, Research And Forecast 2033
Smart Windows Global Market Analysis
Smart Windows 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 $8.97 billion In 2028 At A CAGR Of 11.4% :
The smart windows market size has grown rapidly in recent years. It will grow from $5.24 billion in 2023 to $5.83 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to Rising regulatory initiatives promoting energy efficiency in buildings, growing awareness of environmental sustainability, rising energy costs, increase in focus on enhancing occupant comfort and satisfaction in residential, commercial, and institutional buildings, rise in urbanization and infrastructure development.
The smart windows market size is expected to see rapid growth in the next few years. It will grow to $8.97 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to Increasing demand for smart homes and smart buildings equipped with connected devices and automation systems, growing focus on health and well-being in building design, rise in government incentives and regulations promoting energy efficiency and sustainability in buildings, the rise of smart cities and sustainable urban development initiatives, increasing awareness of indoor air quality (IAQ). Major trends in the forecast period include advancements in the Internet of Things (IoT) and building automation technologies, the integration of artificial intelligence (AI) technologies for predictive and adaptive control, the integration of smart windows with broader smart home ecosystems, and the and the development of enhanced user interfaces and control options.
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Smart Windows Market Major Segments
The smart windows market covered in this report is segmented -
1) By Type: Organic Light-Emitting Diode (OLED) Glass, Self-Dimming Window, Self-Repairing Windows
2) By Technology: Suspended Particle Devices Light Modulator, Polymer Dispersed Liquid Crystal Devices Scanner, Electrochromic
3) By Application: Residential, Industrial, Commercial, Transport
Key Driver - Rise Of Smart Homes Driving Growth In The Smart Windows Market
A rise in demand for smart home solutions is expected to propel the growth of the smart window market going forward. Smart home solutions refer to a range of technologies and systems that integrate various devices and appliances within a home to enhance convenience, comfort, security, energy efficiency, and automation. The demand for smart home solutions is rising due to consumers' desire for convenience, energy efficiency, and enhanced security. Smart windows strengthen the functionality of smart homes by regulating natural light and privacy levels, optimizing energy usage, and improving overall comfort and convenience for residents. For instance, in November 2022, according to a report published by techUK, a UK-based membership association for the tech industry, 77% of UK adults will own at least one connected home device, up from 67% pre-pandemic, marking a 1% increase since 2021. Moreover, the proportion of 'advanced adopters,' owning over three connected home devices, has risen to 26% in 2022 from 24% in 2021. Therefore, a rise in demand for smart home solutions drives the smart window market.
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Prominent Trend - Advancements In Smart Window Technology Is Enhancing Convenience And Energy Efficiency
Major companies operating in the smart window market focus on developing automation and connected technology upgrades such as voice and app-activated windows, to enhance user convenience, energy efficiency, and comfort in residential and commercial buildings. Voice and app-activated windows allow users to control window operation using voice commands or mobile applications, providing convenience, flexibility and enhanced accessibility. For instance, in February 2024, Marvin, a US-based custom-made windows and doors manufacturer, launched the new Smart Window and Door Line. This product line integrates automation and smart technology into windows, skylights, and doors. These smart products aim to enhance indoor living experiences by offering automated features such as voice commands for opening windows and doors, sensors for rain detection and obstruction avoidance, and pre-programmable settings for climate control.
Smart Windows Market Players
Major companies operating in the smart windows market are Saint-Gobain S.A., AGC Inc., Gentex Corporation, Pilkington Group Limited, Hitachi Chemical Co. Ltd., View Inc., Gauzy Ltd., Halio International, SAGE Electrochromics, Kinestral Technologies Inc., Polytron Technologies Inc., Smartglass International Ltd, Heliotrope Technologies Inc., ChromoGenics AB, GlasNovations Ltd., Innovative Glass Corporation, Raven Windows Inc., Smart Windows Colorado, SPD Control Systems Corporation, Stellaris Corporation, Scienstry Inc. , Smart Tint Inc., Citala Ltd., Pleotint LLC, Research Frontiers Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the smart windows market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the smart windows 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 Windows Market Report Structure
3. Smart Windows Market Trends And Strategies
4. Smart Windows Market - Macro Economic Scenario
5. Smart Windows Market Size And Growth
…..
27. Smart Windows Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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