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Smart Glass Market Size, Share, Forecast, Research Report 2023-2032

Market Scenario:

The Smart Glass market is projected to grow from USD 7.3996 Billion in 2023 to USD 16.10562438 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 13.84% during the forecast period (2023 – 2030).

Governing bodies of various countries are increasingly encouraging these energy-efficient products. As an emerging global concept, smart glass has inherent energy-saving and auto-dimming properties, which reduce its maintenance cost. As a result, the perceived benefits of these glass products are more than the incurred investments that help the global market dwell.

Smart glass/ smart glass/ dynamic glass technology has been around for years. Some of its key applications include tint-able windows to skylights, offices, hotels, luxury airplanes, and curtain walls. Additionally, strong market penetration of handheld and wearable devices accelerates the market increase. Also, growing industrialization and urbanization worldwide fuel market growth.

Conversely, the high production cost of Smart glass is a key factor likely to continue to impede the growth of the market, increasing the overall price of smart glasses. Also, the tint on this glass projects an unclear view, restricting their uptake in cameras. Nevertheless, technology upgrades expected in the recent future would support market growth throughout the predicted period.

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Key Players:

Key Companies in the Smart Glass market include,

  • Force Impact Technologies INC. (US)
  • Ericsson(Sweden)
  • Honeywell International Inc. (US)
  • DAQRI, LLC(US)
  • Unaliwear Inc. (US)
  • Huawei Technologies Co. Ltd. (China)
  • General Electric Company(US)
  • Fitbit Inc. (US)
  • Revolar Inc. (US)
  • ADT Inc. (US)
  • Safelet B.V. (The Netherlands)
  • Kore Wireless Group (US)
  • 100Plus Inc (US)
  • Skully(Georgia)
  • MC David Inc. (US)
  • PORTER (India)
  • SVOR(France)
  • Pestel(US)

Segmentation:

The report is segmented into three dynamics;

By Technology: SPD, PDLC, Photochromic, Electrochromic Technology, and others.

By Application: Power Generation, Consumer Goods, Architectural & Construction, Transportation, Automotive, Aircraft, Marine, and others.

 By Regions:  Americas, Europe, Asia Pacific, and Rest-of-the-World.

Competitive Outlook:

Highly competitive, the global smart glass market appears fragmented due to the presence of many well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, expansion, and product/technology launches. Players leading the global smart glass market include Chromogenics AB (Sweden), Nippon Sheet Glass Co., Ltd (Japan), E-Chromic Technologies, INC. (US), Saint-Gobain Group (France), PPG Industries, Inc (US), Innovative Glass Corporation (US), Ravenwindow (Ravenbrick LLC) (US), LTI Smart Glass, Inc (US), Kinestral Technologies, Inc. (US), AGC Inc (Japan), Hitachi Chemical Co., Ltd (Japan), Gentex Corporation (US), Pleotint Llc (US), and Merck KGAA (Germany), among others.

Regional Analysis:

The Asia Pacific region dominates the global smart glass market. The largest market share majorly attributes to increasing applications of smart glasses in protecting lives from UV rays and furniture and fabrics from fading. Moreover, opportunities in transportation and consumer electronics sectors for SPD use in the latest variants push the smart glass market growth.

Besides, the rapid growth in the automobile industry and increasing investments in infrastructural development drive the regional market. China, India, and Japan are the largest consumer markets for smart glass in this region. Rising applications of smart glass in residential applications push the growth of the regional market. The APAC smart glass market is expected to remain dominant throughout the forecast period.

North America stands second in the global smart glass market. The market is driven by the well-developed technology end-user industries such as construction, automotive, and aerospace. Additionally, growing investments and the high adoption rate of smart glass in infrastructure renovation act as a significant tailwind for the smart glass demand. The North American smart glass market is projected to create a substantial revenue pocket throughout the review period.

The Europe smart glass market is growing rapidly. Factors such as the developed automobile and marine industries in the region provide significant smart glass market opportunities. Besides, the growing government programs encouraging the development of green buildings augment the use of smart glass. Countries such as Germany, France, and Belgium account for the largest share in the regional market. The European smart glass market is forecasted to grow at an impressive CAGR during the estimated period.

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Smart Glass Industry Developments:

January: Smart glass company RavenBrick announces a partnership with Google Cloud to provide cloud-based management and control for its smart glass products.

February: Smart glass company Pleotint unveils a new line of smart glass products that are designed to be more energy efficient and easier to install.

March: Smart glass company View announces that it has received a $100 million investment from SoftBank Vision Fund.

April: Smart glass company Gentex announces that it has developed a new type of smart glass that can be used to create self-dimming car windows.

May: Smart glass company Smartglass International Limited launches a new line of smart glass products that are designed for use in the automotive industry.

June: Smart glass company SAI Industrial LLC announces that it has partnered with the University of California, Berkeley to develop a new type of smart glass that can be used to create energy-efficient buildings.

July: Smart glass company SPD Control System announces that it has received a patent for its new technology that allows smart glass to be controlled by voice commands.

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