Global Smart Windows Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

Global Smart Windows Market: Overview

“The global Smart Windows Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Smart windows, also known as switchable glass, switchable glazing, or smart windows, is a technology with light transmission properties, which can be modified by voltage, light or heat. Usage of window blinds and curtains are replaced by smart windows as it limits sound transmission and fumigate than curtains.

Global Smart Glass Market: Dynamics

Increasing construction activities, rising demand for automobiles, rising investments in infrastructure projects, coupled with increasing spending for renovation and remodeling activities are some of the factors expected to fuel growth of the global market. In addition, increasing research & development activities related to development of smart technologies for new buildings and other parts. In 2016, for instance, LG Electronics Inc. is a South Korean multinational electronics company, incorporated the technology in its new refrigerator, which featured darkened glass panel that is transparent in order to reveal the fridge’s content. Moreover, favorable government initiatives to conserve energy including green buildings, along with increasing awareness regarding energy saving required for lighting, cooling, and heating purposes in green buildings are expected to help the smart glass market positively. However, regulations regarding use of dark shade windows, along with government regulations for limited access of shaded films in the vehicle are some factors may restrict demand for smart glass market to a certain extent. For instance, BMW AG and Daimler AG installed smart glass in sunroofs and windows in premium cars.

Recent trend observed in the global market is manufacturers are focusing on photovoltaic integrated glass which collects energy by glass panels to charge the vehicles. Benefits offered by PV glass in the automobiles is expected to support growth of the target market.

Global Smart Glass Market: Segment Analysis

Among the technology segments, the electrochromic segment is expected to dominate in the target market over the forecast period.

Among the application segments, the non-residential segment accounts for significant market share in terms of revenue over the forecast period.

Global Smart Glass Market: Regional Analysis

North America smart glass market is estimated to hold major share and is expected to maintain its dominance over the forecast period. This is attributed to focus on installing electronic equipment with smart glass, technological advancements related to target product, ongoing restoration and renovation activities, and presence of major players in the region. The market in Asia Pacific is also anticipated to register fastest growth in terms of revenue.

Emerging countries such as India and China are estimated to offer substantial growth opportunities, owing to increasing automotive production, rising construction activities, and growing activities related to production of smart glass in Japan and Taiwan. Moreover, high investments in infrastructural projects, rapid urbanization, increasing awareness regarding energy saving, and strong economic growth in developing countries are expected to drive industry growth in the region over the next few years.

Global Smart Glass Market Segmentation:

Segmentation by Technology:

• Active Glasses
  • Suspended Particle Devices Glass
  • Polymer Dispersed Liquid Crystal Glass
  • Electrochromic Glass
  • Others (Micro-blinds and Nanocrystals)
• Passive Glasses
  • Passive Thermochromic
  • Passive Photochromic

Segmentation by Application:

• Automotive
• Aircraft
• Marine
• Construction

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa