Smart Glass Market by Technology (Thermochromic, Photochromic, Electrochromic, SPD, PDLC, and Others) and End-User Industry (Transportation, Construction, Power Generation, and Others)- Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Smart Glass Market held USD 3.8 billion in 2020 and is to grow with a CAGR of 12% from 2020-2030. Smart glass controls light's transmission properties through heat and voltage alterations. It allows user to set the light flow, glass-glare and amount of heat passing through the glass according to his choice, which will be boosting the global smart glass market growth. Electrochromic, thermochromic, micro-blinds, suspended particle system (SPD), polymer dispersed liquid crystal (PDLC), nanocrystal glass and photochromic,  are all forms of smart glass. In the building industry these glasses are often used in the form of electrochromic windows. significant amounts of energy on heating, cooling, and lighting can be saved by controlled smart glass.

Market Dynamics and Factors:

The smart glass market is driven by rising demand for an eco-friendly and energy efficient product. Another factor contributing to the smart glass market growth is its cost efficiency and reduced maintenance costs. Government support coupled with large automotive industry investment triggers smart glass market demand. However, this market may be hampered by the durability of smart glass and performance. However, limited marketing and insufficient awareness are expected to hinder smart glass market size. Nonetheless, a wide range of applications and growing demand for energy-efficient products in the forecast period indicate smart glass industry and will be a growing smart glass market trend during the forecast period.

Market Segmentation:

Based on the technology, the global smart glass industry is segmented into photochromic, electrochromic, spd, thermochromic,  pdlc and others. On the basis of end-user industry, the market is segmented into power generation, construction, transportation, and others. Geographic bifurcation of global market share includes North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

North America became the largest smart glass market and is expected over the forecast year. Favorable regulations and legislation have sparked regional smart glass market growth. Not only have they contributed to the overall energy savings but they have also reduced the maintenance costs, which has had a significant effect on market size and will be a growing market trend. The U.S. and European Governments planned to install smart glass electronics equipment and addressed their transport department to the same which will also fuel the market size. Germany also accounted for the significant market share in the previous years and is expected to grow during the forecast period. Architectural advancement in construction and installation of large windows in the buildings are projected to drive smart glass market demand in Europe.

Competitive Scenario:

The global smart glass industry, which is highly competitive, consists of a few major players. In terms of market share, few of the major players currently dominate the smart glass market, they are Ravenwindow (Ravenbrick LLC) (US), Saint-Gobain Group (France), LTI Smart Glass, Inc (US), PPG Industries, Inc (US), Gentex Corporation (US), Merck KGAA (Germany), Kinestral Technologies, Inc. (US), E-Chromic Technologies, INC. (US), Pleotint Llc (US), AGC Inc (Japan), Hitachi Chemical Co., Ltd (Japan), Innovative Glass Corporation (US), Chromogenics AB (Sweden) and Nippon Sheet Glass Co., Ltd (Japan)

Smart Glass Market Report Scope