Press release
Residential and Commercial Smart Glass Market Set to Reach USD 187475.7 million by 2034, Driven by Technological Advancements and Energy Efficiency Initiatives
Residential and Commercial Smart Glass Market
Smart glass technologies, including voice assistants, self-cleaning properties, and improved energy efficiency, are gaining popularity due to climate change concerns and green building initiatives. Governments are offering tax breaks and incentives for incorporating smart glass technologies in construction projects. As businesses and homeowners become aware of their benefits, they are adopting smart glasses in their homes and construction projects.
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As technology advances, smart glasses are expected to become affordable and attractive for various applications. They also enhance the architectural appeal of residential and commercial buildings by providing privacy control without compromising natural light. However, higher initial costs and the need for additional demonstrations are hindering their wider adoption.
Key Takeaways from the Market Report:
- The global residential and commercial smart glass market is set to reach USD 187475.7 million by 2034, with a CAGR of 12.4% in the forecast period.
- Based on technology type, the electrochromic segment accounted for a market share of 39.4% in 2024.
- By end-user, the residential segment is leading with a market share of 54.8% in 2024.
- India is anticipated to record a CAGR of 18.4% between 2024 and 2034.
- Sales in China are predicted to rise at a CAGR of 13.8% through 2034.
"Consumers are increasingly demanding smart glasses to fulfill the luxurious appeal of their homes. Manufacturers are targeting specialized markets for smart glasses beyond their conventional uses," Says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Who is Winning?
Key players in the smart glass industry, including Gentex Corporation, Asahi India Glass Limited, Glass Apps, LLC, and Kinestral Technologies, Inc., are developing customizable smart glass solutions with features like tint adjustment, integration with smart home systems, and self-cleaning properties. They are investing in research and development to create cost-competitive materials, such as electrochromic or suspended particle display technologies.
They are also innovating for voice control, improved user experience, and automated adjustments based on environmental conditions. They are targeting specialized markets like smart shower enclosures, skylights, commercial space partitions, and greenhouses to diversify consumer categories and generate additional revenue. They are also optimizing production procedures and exploring substitute materials to reduce costs.
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Industry Updates-
- Zeiss, headquartered in Oberkochen, in January 2024 showcased its Multifunctional Smart Glass Technology that can float "holographic" and AR content on transparent surfaces.
- Panasonic, headquartered in Osaka, in September 2023 developed photovoltaic glass with perovskite for power-generating windows with solar cells that can convert the façade into a renewable energy source.
Leading Residential and Commercial Smart Glass Brands
Gentex Corporation
Asahi India Glass Limited
Glass Apps, LLC
Kinestral Technologies, Inc.
NODIS Pte Ltd.
Polytronix, Inc.
RavenBrick LLC
Scienstry Inc.
Smart Glass Technologies Inc.
ToughGlaze (UK) Ltd
Key Segments of Market Report:
By Technology Type:
Based on technology type, the sector is divided into electrochromic, thermochromic, and photochromic.
By End-use:
By end-use, the sector is segmented into residential and commercial. The residential segment is further divided into smart windows and doors, smart glass partitions, smart shower glass, and smart glass walls. The commercial category is segregated into commercial buildings, automobiles, aircraft, marine, consumer electronics, and others.
By Region:
The sector is spread across North America, Latin America, Western Europe, South Asia, East Asia, Eastern Europe, and the Middle East and Africa.
Read Complete Source: https://www.globenewswire.com/news-release/2024/07/26/2919328/0/en/Residential-and-Commercial-Smart-Glass-Sales-Set-to-Total-USD-187475-7-Million-by-2034-Amid-Rising-Trend-for-Comfort-and-Convenience-Future-Market-Insights-Inc.html
Related Reports:
Glass Additive Market: https://www.futuremarketinsights.com/reports/glass-additives-market
Glass Substrate Market: https://www.futuremarketinsights.com/reports/glass-substrate-market
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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