Global Smart Glass Market Size, Share, Growth Analysis, By Technology(Photochromic, thermochromics), By Application(Transportation, consumer electronics) - Industry Forecast 2023-2030

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FAQ's

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 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. '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'

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.

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 Heating, Ventilation, and Air Conditioning (HVAC) 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.

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.

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