USD 5.13 billion
Global Smart Glass Market Size, Share, Growth Analysis, By Technology(Photochromic, thermochromics), By Application(Transportation, consumer electronics) - Industry Forecast 2023-2030
Report ID: SQMIG25K2070 | Region: Global | Published Date: February, 2023 | Pages: 157 | Tables: 66 | Figures: 75
Global Smart Glass Market Insights
Global Smart Glass Market size was valued at USD 5.13 billion in 2021 and is poised to grow from USD 5.84 billion in 2022 to USD 12.76 billion by 2030, growing at a CAGR of 10.3% in the forecast period (2023-2030).
The growth of the building and construction industry, where smart glass is frequently used to create adaptive lighting environments in windows, partitions, skylights, and doors, has been accelerated by increasing infrastructure investment and population growth. This could be one of the primary drivers of the market during the forecast period. Additionally, factors such as growing original equipment manufacturers (OEMs), more disposable income, and technological advancements have fueled the growth of the automotive industry, where smart glasses are widely used in rear-view mirrors, side-view mirrors, sunroofs, windscreens, backlights, etc., and sidelights. As a result, the market for smart glasses can expand faster.
However, over the past few years, its prices have risen as supply has tightened due to manufacturing issues. In terms of technology and applications, the market has also seen many changes and developments. As a result, smart glasses are now two to four times more expensive than traditional glasses. In addition, the production of smart glass requires the use of expensive, highly specialized equipment. This prevents manufacturers with less financial capacity from entering the smart glasses market. This has the potential to hamper the growth of the market.
Market snapshot - 2023-2030
Global Market Size
Largest Segment
Electrochromic
Fastest Growth
Electrochromic glass
Growth Rate
10.3% CAGR
Global Smart Glass Market 2021-2028 ($ Bn)
Country Share for Europe Region- 2021 (%)
Global Smart Glass Market By Technology 2021-2028 ($ Bn)
Global Smart Glass Market By Technology 2021-2028 (%)
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Global Smart Glass Market Segmental Analysis
Global smart glass market is segmented on the basis of technology, application, and region. By technology, the market is segmented into photochromic, thermochromics, suspended particle devices (SPD), polymer dispersed liquid crystal (PDLC), and electrochromic. By application, market is segmented into transportation, consumer electronics, architecture, and power generation. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Technology
In 2021, the electrochromic glass segment accounted for more than 83.0% of the market share. This is partly due to the product's features, including its high UV and IV ray blocking ratio, low driving voltage, and straightforward integration with large glass panels. In addition, electrochromic glass can be stained, colored, and made opaque to adjust how much light and heat it transmits depending on the conditions. These glasses are widely used in medical facilities, educational facilities, business settings, and retail stores.
Due to the excellent stability of SPD against UV radiation, the suspended particle device (SPD) smart glass category is expected to experience a CAGR of over 15.0% during the forecast period. These lenses can change from transparent to black in 1-3 seconds and provide subtle and instant light control. They also offer a remarkable optical quality that makes it easy to manage sunlight effectively.
Polymer dispersed liquid crystal (PDLC) glass is widely used in electronic devices. It is also known as switchable glass, magic glass, smart glass, or privacy glass. The technology is used in businesses and residences to provide adequate light while maintaining privacy. It has applications in many fast-growing industries, including aviation, automobiles, ships, and architecture. The demand for PDLC smart glass technology is further fueled by the growing trend towards "green energy" sources.
Analysis by Application
In 2021, the transportation application segment accounted for 49.0% of the market share. The transport industry is further segmented into air, vehicle, and sea transport. The significant expansion in the automobile market can be attributed to the increasing use of smart glass by luxury car manufacturers. Increasing demand is pushing market participants to expand their product offerings in this niche to gain a competitive advantage. For example, in September 2021, automotive giant BMW debuted its BMWi Vision Circular Showcar at the IAA Auto Show. The vehicle was equipped with innovative headlights which were manufactured using SPD LCG technology developed by Gauzy Ltd.
Commercial office buildings and corporate headquarters are where smart glass technology is used the most as it helps in significant cost savings while increasing workplace efficiency. In the coming years, self-cleaning glasses, low-emissivity glasses, and solar control glasses are predicted to emerge as popular options for the building industry. The growth of the architectural sector is greatly influenced by the increasing number of infrastructure projects as well as restoration and renovation operations in residential and commercial areas.
Global Smart Glass Market By Technology 2021 (%), 2021 (%)
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Global Smart Glass Market Regional Insights
Europe holds the largest share of the global smart glass market. The growing interest of architects and designers in renovating and adapting existing infrastructure is responsible for the growing demand for products in this sector. The expansion of the car industry in the region, where switchable glass is used for high-end features such as sunroofs and anti-glare side mirrors, also contributes to demand.
In North America, the adoption of smart glasses has increased due to the improved performance of end-use industries such as construction and automotive. The need for these glasses is fueled by the growing need for energy-efficient buildings in the region, driven by government restrictions.
Due to the region's expanding automotive and construction industries, Asia Pacific will witness significant growth in demand during the forecast period. Demand for residential and commercial buildings, hospitals, and a tourist attraction in the region is expected to be supported by rapid industrialization in China, India, and South Korea. These factors are expected to provide lucrative growth prospects for market players.
Global Smart Glass Market By Geography, 2021-2028, 2023-2030
- Largest
- Fastest
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Global Smart Glass Market Dynamics
Drivers
Growing smart glass integration in automotive glass panels
- To differentiate their products from the competition, many multinational vehicle manufacturers are focusing on incorporating contemporary ideas into their vehicles. Due to the increasing purchasing power of consumers over the past ten years, consumers have insisted on opting for premium features in their vehicles. The use of switchable glass is one such design choice that has flourished in the car sector. In addition to windows, rear-view mirrors, windscreens, sun visors, sunroofs, and panoramic view windows, they are used in glass panels for these items. These glass panels help in maintaining temperature and privacy in the car apart from controlling the transmission of light into the vehicle's chamber. These qualities improve passenger comfort and vehicle energy efficiency.
The construction industry is increasing the adoption of smart glass
- Smart glass helps with ambient lighting, resulting in multi-functional environments that adapt and respond to human needs at the flick of a switch. Additionally, buildings have the ability to insulate from sound and heat, saving energy while offering 3D design options to architects and interior designers. These glasses are used in buildings to create smart windows, skylights, and facades that give the structure a distinctive, dynamic look and allow privacy to be regulated, especially in office spaces and hospital partitions. Rising consumer spending in emerging nations is expected to increase the need for intelligent building materials, which will enable consumers to live elegantly.
Restraints
High Cost of Smart Glass
- The overall cost of smart glass is based on glass cost, installation cost, power cost, and functional aspects such as control latency, transparency variation, and dimming capability. Compared to regular glasses, this charge makes these glasses significantly more expensive. Due to the use of rare chemicals and electronic systems, the disposal of waste glass panels also requires special treatment techniques, which increases the overall cost. These factors make it difficult for switchable glass manufacturers to list the benefits and attractive returns on investment that consumers will receive when adopting switchable glass. Despite the advantages of these glasses, their high cost is still the main obstacle which will hamper the market growth.
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Global Smart Glass Market Competitive Landscape
The global smart glass market is fragmented and highly competitive. Key industry players are focused on product developments, new product launches, and geographical expansions to gain a significant amount of market share.
For example, in March 2021, View Inc. installed smart windows at 730 Third Avenue, located in Manhattan's Midtown East district. The entire building has more than 1,100 new smart windows, which will assist owners in meeting New York's Local Law 97, which aims to cut building-based emissions by 40% over the next decade and will have an impact on more than 57,000 structures around the city. The building's LEED Gold Certification will also be maintained with the help of smart windows.
In February 2019, ZEISS launched the first multifunctional smart glass transparent surfaces. The new technology can show a wide range of data, measure temperature, and filter sunlight. It will soon have the ability to illuminate, detect, filter, and project, and it might be utilized to achieve great things for augmented reality and the automotive industry.
In January 2021, Corning Incorporated announced that Lava would be India's first mobile device company to launch a military-grade smartphone with Gorilla Glass 3 for US$ 71.45 (Rs. 5,499). The Z1 smartphone, which will go on sale on January 22, 2021, is a part of a new Lava device lineup that also includes the Z2, Z4, and Z6 models. All of these smartphones have Gorilla Glass 3, and they all act as a starting point for many Indian consumers who want to switch from a feature phone to a smartphone.
Top Player’s Company Profiles
- Saint-Gobain
- AGC Inc.
- Corning Inc.
- Gentex Corporation
- PPG Industries
- Research Frontiers Inc.
- SCHOTT AG
- Smartglass International Ltd.
- Asahi Glass Co., Ltd.
- RavenWindow
- View Inc.
- Pleotint LLC
- Innovative Glass Corp.
- Gauzy Ltd.
- Hitachi Chemical Co., Ltd.
- Kinestral Technologies, Inc.
- Polytronix, Inc.
- Switch Materials Inc.
- Vision Systems
- EControl-Glas GmbH & Co. KG
Recent Developments
- In December 2021, Halio, the world's most technologically advanced and stylish smart windows, will be exhibiting at the Las Vegas Convention Center in the "Green Avenue" area of the SK CES 2022 booth in the Central Hall, Booth 16761. SK, a significant shareholder in both Halio, Inc., and Halio, supports energy-efficient technology, wellness programs, and ESG (Environmental, Social, and Governance).
- In December 2021, Huawei launched innovative smart glasses running Harmony OS. Two devices can be connected simultaneously with these smart glasses, and the user can switch between the two with a single key setting. Additionally, it incorporates touch controls that allow users to switch audio lanes, answer calls, and play or pause music with the swipe of a finger.
- In September 2021, Xiaomi launched a brand-new line of smart glasses. Android is used by Xiaomi's Smart Glasses, which are powered by a quad-core ARM CPU. Additionally, they make use of MicroLED imaging technology, which is preferred over OLED because of its greater brightness and durability.
- In October 2021, NSG Group announced collaboration with Cohda Design Limited (UK) to create glass applications that power electronics without the use of electric wires.
Global Smart Glass Key Market Trends
- Ongoing construction activities and expanding infrastructure projects that allow the installation of smart glass in various residential and commercial complexes is one of the primary reasons driving the market growth. These items have energy-saving potential, contributing to a reduction in energy used by HVAC (heating, ventilation, and air conditioning) systems. As a result of growing environmental concerns, the government has implemented several green building initiatives, which have increased the demand for products to reduce the overall carbon footprint. The market is expanding as a result of manufacturers including smart glass in sun visors, sunroofs, windscreens and rear-view mirrors as a result of significant expansion of the automotive industry and increasing demand for premium automobiles.
Global Smart Glass Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global smart glass market analysis, in terms of technology and applications, the market has also seen many changes and developments. By technology, in 2021, the electrochromic glass segment accounted for more than 83.0% of the market share. This is partly due to the product's features, including its high UV and IV ray blocking ratio, low driving voltage, and straightforward integration with large glass panels. By application, in 2021, the transportation application segment accounted for 49.0% of the market share. Europe has the largest share of the global market. The growing interest of architects and designers in renovating and adapting existing infrastructure is responsible for the increased demand for products in this industry. In North America, the adoption of smart glasses has increased due to improved performance in end-use industries such as construction and automotive. Rapid industrialization in China, India, and South Korea is expected to support demand for residential and commercial buildings, hospitals, and tourist attractions in the region.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 5.13 billion |
| Market size value in 2030 | USD 5.84 billion |
| Growth Rate | 10.3% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Smart Glass Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Smart Glass Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Smart Glass Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Smart Glass Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Smart Glass Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Smart Glass Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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