Product ID: SQMIG25K2070
Global Smart Glass Market Size, Share, Growth Analysis, By Technology(Photochromic, thermochromics), By Application(Transportation, consumer electronics) - Industry Forecast 2024-2031
Report ID:
SQMIG25K2070 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
66 |
Figures:
75
Global Smart Glass Market Insights
Smart Glass Market size was valued at USD 5.13 billion in 2019 and is poised to grow from USD 5.84 billion in 2023 to USD 12.76 billion by 2031, growing at a CAGR of 10.3% in the forecast period (2024-2031).
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.
US Smart Glass Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Smart Glass Market Report Snapshots
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