Shifting inclination toward the construction of green buildings along with growing demand from the automobile sector will proliferate the global smart glass industry
The global smart glass market size is projected to surpass USD 10 billion by 2025. Smart glass is an advanced glass that can alter light transmission properties. In general, the technology has the capability to change its characteristics from transparent to opaque, through modification in light passing through the glass. Its growing application across construction, architecture and automobile sector is anticipated to stimulate the industry over the forecasted timeline.
Rising regulatory directives, such as National Green Building Standard, LEEDs, and Green Globes, for energy-efficient buildings, are encouraging the real estate industry to invest across smart energy solutions including smart glass. In addition, the rising applications in the field of the transport industry are proliferating the opportunities for smart glass industry players. Moreover, shifting trend toward the luxury and the private jet has escalated the product demand. As a result, the industry players are focusing on escalating their production capacities and enhancing the capabilities of smart glass, which in turn is complementing the industrial outlook.
The report also throws light on various aspects of the global smart glass industry by assessing the market using value chain analysis. The report covers several qualitative aspects of the smart glass industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
The global smart glass market holds a strong competition among the well-established and new emerging players. These market players targets to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
On the basis of technology, the smart glass market is categorized into Suspended Particle Display, Electrochromic, Liquid Crystal, Photochromic, and Thermochromic. The electrochromic segment is expected to grow at a CAGR of around 17% over the forecast period 2019-2025. The growth of this segment is primarily contributed to the surging demand for energy-efficient solutions from commercial establishments.
The Asia-Pacific region is expected to experience growth over 16% during the forecast period. The countries comprising China and India have exhibited impressive gains owing to ongoing development across the automobile and construction sector. Extensive upsurge across the real estate sector owing to rising urban population and establishment of several corporate offices across the region is fueling the product demand. Stringent norms to adopt sustainable consumption and mitigate energy demand-supply mismatch across the industry have impelled the industry players to shift their focus toward energy-efficient products which include smart glass. The region is further expected to dominate the industry over the forecast timeframe on account of positive economic growth across the region.
The major industry players operating across the global smart market include Research Frontiers, View, Gentex, SAGE Electrochromics, Asahi Glass., Hitachi Chemical, Pleotint, Glass Apps, Gauzy, SPD Control Systems, Polytronix, Scienstry, RavenWindow, and Smartglass International. In the current scenario, the industry for smart glass is consolidated with the presence of several global and domestic players. The industry players are coming up with inorganic growth strategies to expand their market presence.
Segment overview of the smart glass market
- Technology Overview, 2018-2025, (USD Million)
- Suspended Particle Display
- Liquid Crystal
- Applications Overview, 2018-2025, (USD Million)
- Power Generation (Solar)
- Regional Overview, 2018-2025, (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Rest of the World
- North America