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The global Smart Glass Market is expected to reach USD 12.2 billion with a CAGR of 11.7% by 2030. Smart glass, also known as switchable glass or light control glass can adjust its light transmission capabilities in reaction to environmental elements such as temperature, voltage, or light.
Overview
Smart Glass Market is increasing due to its skyrocketing demand in hospitals, restaurants, and other commercial buildings as these glasses can effortlessly transform the indoor experience by providing an outside view while also protecting environmental sustainability. Various automotive companies, and aerospace manufacturers are also collaborating with smart glass makers to integrate other technologies such as electronic tint control in order to block damaging ultraviolet rays from entering into the vehicle or the aircraft.
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The smart glass market is segmented on the basis of technology, application, end user, and geography. On the basis of technology, the market is divided into active and passive. The active is further sub-segmented into electrochromic glass, suspended particle device (SPD), polymer dispersed liquid crystals (PDLC), micro-blinds, and nanocrystals. The passive is further sub-segmented into photochromic glass and thermochromic glass.
However, high production cost associated with smart glass, availability of substitutes such as decals & coatings, as well as chemical glazes along with lack of awareness about the innovations by glass manufacturers are the factors restraining the growth of market to certain extent. On the other hand, increasing potential of smart glass in solar power generation plants is expected to offer lucrative growth opportunities to the market players in the coming future.
On the basis of application, the market is classified into construction, automotive& transportation, aerospace, marine, consumer goods, power generation, and others. The construction industry in sub-segmented into residential and commercial. On the basis of end user, the market is divided into automotive, architectural, avionics, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.
North America holds the lion share of smart glass market at present and is expected to continue dominating the market during the forecast period. Asia-Pacific region is expected to witness a steady rise and is predicted to continue growing during the projection period due to surge in the demand for smart glass in electronics and transportation industry.
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The smart glass market comprises of various market players such as Saint-Gobain, Asahi Glass, NSG Group, Xiaomi, Huawei, Merck KGaA, View Inc, Smart glass International, RavenWindow, Gauzy, Pleotint LLC, Polytronix, Research Frontiers, and others. These market players are emphasizing on strategic alliances with automotive and aerospace component makers, as well as mergers, acquisitions, and product development initiatives.
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