Press release
Soaring Demand Set to Propel Smart Glass Market to $12.68 Billion by 2029
Smart Glass
What Is the Expected CAGR for the Smart Glass Market Through 2025?
In recent years, the smart glass market has experienced rapid expansion. The market, which is projected to increase from $7.57 billion in 2024 to $8.52 billion in 2025, is expected to grow at a compound annual growth rate (CAGR) of 12.5%. The acceleration during the historical period was largely driven by swift technological progress, an emphasis on energy conservation, implementation in the building industry, developments in IoT integration, and demand in the automobile sector.
What's the Projected Size of the Global Smart Glass Market by 2029?
In the coming years, the smart glass market size is anticipated to experience remarkable expansion. By 2029, it's projected to reach a worth of $12.68 billion, growing at a compound annual growth rate (CAGR) of 10.5%. The surge within this forecast period is largely due to advances in smart glass technologies, consciousness about energy efficiency, its fusion with IoT and smart technologies, technological progress, and government policies and initiatives. Key trends to look forward to within this period include progression in technology, an emphasis on energy efficiency, synchronisation with IoT and smart housing systems, and a broadening application spectrum.
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Top Growth Drivers in the Smart Glass Industry: What's Accelerating the Market?
The smart glass market's expansion is expected to be driven by the burgeoning construction industry. Every aspect of the construction industry, from planning and designing to building and maintaining infrastructure and structures, is incorporated in this prediction. The growth of the construction industry is linked to factors such as population expansion, urbanization, economic advancement, infrastructure development, technological progression, and an emphasis on sustainability. Smart glass has the potential to aid in the creation of more sustainable, comfortable, and technologically advanced buildings, which makes it an appealing choice for the construction field. For example, the U.S. Census Bureau, a US government agency, indicated that total expenditure on construction in 2022 amounted to $1,840.9 billion, rising to $1,978.7 billion in 2023, signifying a 7.0% increase. Thus, the expanding construction industry can be seen as a key driver for the smart glass market.
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What Trends Will Shape the Smart Glass Market Through 2029 and Beyond?
Leading businesses in the smart glass industry are concentrating on the development and launch of revolutionary, cutting-edge solutions like smart glass privacy technology, to strengthen their competitive positioning in the market. Such technology enables the transition of transparent materials like glass to become shaded or opaque based on demand. For example, in November 2023, Kolbe, an American window and glass manufacturing company, joined forces with Gauzy Ltd., an Israeli smart glass and ADAS technologies firm, to unveil a smart privacy glass solution tailored for single-family residences. This groundbreaking switchable privacy glass technology harnesses top-tier polymer dispersed liquid crystal (PDLC) films sandwiched between glass layers, creating smart glass capable of shifting from opaque to clear once power is applied. Homeowners have the convenience of manipulating the privacy and shading of their windows and doors through a wall-mounted touch panel, remote control, or home automation systems. This forward-thinking technology provides personalized privacy choices and is offered in either white or gray for specific Kolbe window and door items, like VistaLuxe WD LINE direct sets, ultra series casements, awnings, swinging doors, and forgentsSeries all glastra cases.
What Are the Main Segments in the Smart Glass Market?
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
Subsegments:
1) By Electrochromic: Electrochromic Glass for Windows, Electrochromic Glass for Architectural and Automotive Applications
2) By Suspended Particle Device (SPD): SPD Glass for Windows, SPD Glass for Skylights and Curtain Walls
3) By Liquid Crystal: Liquid Crystal Display (LCD) Glass, Liquid Crystal Smart Glass for Privacy Control
4) By Passive: Thermochromic Glass, Photochromic Glass
5) By Other Types: Micro Blinds Smart Glass, Nanocrystal Smart Glass
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Which Top Companies are Driving Growth in the Smart Glass Market?
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
Which Regions Will Dominate the Smart Glass Market Through 2029?
Europe was the largest region in the smart glass market in 2024. 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.
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