Market Research Report
Global Smart Glass Market - 2019-2026
|Published by||DataM Intelligence||Product code||759104|
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|Global Smart Glass Market - 2019-2026|
|Published: November 1, 2019||Content info:||
The global Smart Glass market expected to reach $XX billion by 2026, at a CAGR of over 14% during the forecast period. Smart glasses provide transparency during daytime for the sunlight to enter and provide privacy and security by turning to opaque as and when needed. Smart glasses are witnessing rise in popularity among the people all around the world mainly due to its energy-efficient features.
Switchable smart glass is a pane of glass that either contains a layer of electrodes within the glass. This type of glass instantly redefines environments, creating multi-functional spaces that can be designed to adapt to the changing needs of a wide variety of users. Anywhere that instant, switchable privacy may be sought or where daylight needs to be easily controlled, switchable glass are the solutions, all while offering the flexibility of returning the glass to a clear state.
The report covers all the major trends and drivers playing a vital role in the growth of the global smart glass market. The global smart glass market has been segmented based on region, technology, and application.
The global Smart Glass market growth is primarily driven by the rise in the adaptation of the energy-efficient solution all around the world. Smart Glass not only protects the skin by blocking the harmful UV rays but also prevent the fabric and furniture near your windows from fading. The Smart glasses are energy efficient and have low reflection that reduces the glare. Smart Glasses are eco-friendly; recyclable material that offers attractive looks and also helps in controlling the solar and thermal heat in the interiors that maintains optimal temperature inside the building. Reducing thermal transmittance through a glass facade, providing 99% UV protection and lowering HVAC cost by up to 30%.
However, the high initial cost, and lack of awareness among people about smart glasses benefits are some of the factors that will hinder the growth of the Smart Glass market for the forecast period.
Market Segment Analysis
By Technology, the global smart glass market is segmented into Polymer Dispersed Liquid Crystal (PDLC), Suspended Particle Devices (SPD), Electrochromic, Thermochromic, and Photochromic. Suspended Particle Devices (SPD) have the dominant position in the Smart Glass technology segment and is expected to retain its dominance in the forecasted period due to the adaptation of the technology by the automobile industry. As more and more automobile manufacturers are using this technology to make their cars attractive. For instance, Fisker e-motion electric vehicle debuts at CES with SPD-smart glass technology in 2018.
By Application, the global Smart Glass market is segmented into Construction, Transportation, and Consumer Electronics. Construction has the dominant share in the application segment and is expected to retain its dominance in the forecast period. However, the rise in the transportation industry due to the growing number of travelers will boost the smart glass industry. Smart glasses are finding their usage in all types of vehicles like cars, boats, trains, and airplanes. For instance, The Boeing 787 Dreamliner features electrochromic windows which replace the pull-down window shades on existing aircraft. Another instance includes ICE 3 high-speed trains use electrochromic glass panels between the passenger compartment and the driver's cabin.
By geography, the global Smart Glass Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
North America holds the largest market share for Smart Glass Market, a due increasing demand for the use of smart glasses in the construction of the residential buildings. The promotion of green building by the governments in the region is the major driver for the usage of the smart glasses as buildings are responsible for almost half (48 percent) of all energy consumption and emit 38 percent of the carbon dioxide in the United States. Moreover, so, by turning to the energy-efficient smart glasses the energy consumption is reduced significantly while smart glass windows are about 70 percent more energy efficient during the summer season and 45 percent more efficient in the winter compared to standard dual-pane glass.
Europe is after North America in terms of market share in global smart glass market, due to rise in the automobile industry in the region due to the presence of all globally major automobile manufacturers. Also, the shift of manufacturers to using smart glasses instead of the usual one will be growing the market for smart glasses in the region for the forecast period. For instance, when compared to conventional automotive glass, Mercedes-Benz reported that the use of SPD-SmartGlass significantly reduces the temperature inside the vehicle by up to 18ºF/10ºC. This increases passenger comfort and reduces air conditioning loads, thereby saving fuel and reducing CO2 emissions.
Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Smart Home Market is a fragmented market with the presence of various global and regional players in the market. The major players include Polytronix, PPG Industries, Asahi Glass Co., Ltd., ChromoGenics AB, and DuPont. Other key players in the market include Saint-Gobain, Scienstry Inc, Ravenbrick, Gentex Corporation, Hitachi Chemical Co., Ltd, LTI Smart Glass Inc, and Pleotint LLC.