Electrochromic Glass Leads the Way as Smart Glass Revolutionizes Energy Efficiency and Comfort

Dublin, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The "Smart Glass Market Size, Share & Trends Analysis Report By Technology (PDLC, SPD, Electrochromic), By Application (Transportation, Power Generation, Architectural), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global smart glass market is on an upward trajectory, with expectations to reach a substantial USD 12.76 billion by 2030. This growth reflects a robust CAGR of 9.9% from 2023 to 2030.

The market's expansion is propelled by surging demand in the automotive and architectural industries. The adoption of innovative technologies in new construction projects has driven the use of smart glass products in the architectural sector. Moreover, increased investment in infrastructure development, a rising appetite for luxury vehicles equipped with smart glass, and government initiatives to construct eco-friendly and energy-efficient buildings are contributing to market growth. The escalating glazing area in commercial and residential structures is set to further bolster demand in the coming years.

Architectural Sector Dominates with Electrochromic Glass

Electrochromic glass has gained significant traction in both automotive and building construction applications, positioning it as the leading contributor in this segment. North America and Europe have witnessed rapid adoption of electrochromic windows, providing control over energy consumption, glare reduction, and enhanced comfort. According to the National Renewable Energy Laboratory (NREL), electrochromic technology can reduce electricity consumption for cooling by up to 49% and lighting costs by up to 51%. Such advantages are expected to stimulate growth in this segment.

Smart Glass Revolutionizes Commercial Office Buildings

Smart glass technology is making substantial inroads in commercial office buildings and corporate headquarters, offering substantial cost savings and heightened workplace productivity. Technologies like self-cleaning glass, low-emissivity glass, and solar control glass have become prominent choices in the construction sector. The increased number of infrastructure projects, coupled with restoration and renovation activities in residential and commercial spaces, is bolstering the architectural segment. Notable projects, including Evora Public Central Hospital, Edge East Side Tower, Baltic Offshore Pipeline, and Flamanville 3, are indicative of the robust construction activities in Europe scheduled for completion in 2023.

Strategic Initiatives Drive Market Competitiveness

Companies operating in this space are actively pursuing strategic initiatives, such as investments in research and development (R&D), mergers and acquisitions, collaborations, partnerships, and new product development, to gain a competitive edge. For instance, in March 2023, Kognition, an AI safety and security startup, partnered with View Inc., a leading smart glass provider, to integrate View's Smart Building Cloud, an integrated software stack for smart buildings, with Kognition's SPS smart building software. This collaboration aims to offer a comprehensive approach to building safety and security, enabling customers to deploy and manage a cyber-physical security system powered by AI.

Key Companies in the Smart Glass Market

Some of the key companies operating in the smart glass market include:

  • AGC Inc.
  • ChromoGenics
  • Corning Incorporated
  • Gauzy Ltd. and Entities
  • Gentex Corporation
  • Guardian Industries
  • Halio Inc. (Kinestral Technologies Inc.)
  • Merck KGaA (Merck Group)
  • Nippon Sheet Glass Co. Ltd.
  • PPG Industries Inc.
  • RavenWindow
  • Research Frontiers Inc.
  • Saint-Gobain S.A.
  • Smartglass International Ltd.
  • VELUX Group
  • View Inc.
  • Vision System
  • Polytronix Inc.
  • Smart Glass Technologies

Key Market Highlights

The global smart glass market is gaining prominence, driven by stringent regulations for energy efficiency and rapid urbanization in developing countries, which have led to increased infrastructure demands. The installation of glass is vital in various buildings within the residential building sector and consumer devices. Installers, often independent contractors hired by building authorities or glass retailers, play a crucial role in this process.

The aerospace and transportation sector is poised to become a significant client for smart glass applications, contributing to market revenue. The commercialization of SPD smart glass has unveiled numerous opportunities, including its use in rearview mirrors, side-view windows, and sunroofs.

Furthermore, Asia Pacific, an untapped market with abundant growth potential, is projected to record the fastest CAGR of approximately 11.5% over the forecast period.

Key Attributes:

Report AttributeDetails
No. of Pages190
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$5.83 Billion
Forecasted Market Value (USD) by 2030$12.76 Billion
Compound Annual Growth Rate9.9%
Regions CoveredGlobal

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Smart Glass Market Outlook
3.1 Market Lineage Outlook
3.2 Value Chain Analysis
3.2.1 Process And Equipment Used For Glass Lamination
3.2.2 Smart Glass Production Process Installation Of Switchable Layer Comparative Analysis Of Vacuum Lamination Furnaces
3.3 Market Dynamics
3.3.1 Market Driver Analysis
3.3.2 Market Restraint Analysis
3.3.3 Market Opportunity Analysis
3.4 Industry Analysis Tools
3.5 Pricing Analysis
3.6 Smart Glass Market Trends
3.6.1 Liquid Crystal Smart Glass & Patent Analysis
3.7 Case Studies Of Smart Glass By Application
3.8 Technology Roadmap: Smart Glass Market
3.9 Smart Glass Market - Covid-19 Impact Analysis

Chapter 4 Smart Glass Market: Technology Estimates & Trend Analysis

Chapter 5 Smart Glass Market: Application Estimates & Trend Analysis

Chapter 6 Regional Estimates & Trend Analysis

Chapter 7 Smart Glass Market - Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/r/hvsr5r

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Global Smart Glass Market

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