The global smart glass market size was valued at USD 4,651.3 million in 2019 and is projected to reach USD 15,788.0 million by 2027, exhibiting a CAGR of 17.2% during the forecast period.
Fortune Business Insights states this information in its report titled, “Smart Glass Market, 2024-2032.”
Report Coverage:
The report presents a systematic study of the smart glass market segments and thorough analysis of the market overview. A thoughtful evaluation of the current market trends as well as the future opportunities is offered in the report. Moreover, it presents an exhaustive analysis of the regional insights and how they help to form the smart glass market growth. The COVID-19 impacts have been discussed in the report to assist investors and business owners with a better understanding of the possible threats present in the market. The report further discusses the key players and their prominent strategies to stay in the dominating position.
Segmentation:
The smart glass market is segmented based on technology, application, and region.
- By Technology:
- Electrochromic Glass: The largest segment, with over 35% market share, driven by its extensive use in architectural and transportation applications.
- Suspended Particle Devices (SPD): Represent about 25% of the market, known for high light control efficiency.
- Thermochromic and Photochromic Glass: Combined, these segments hold 20% of the market, with growing adoption in energy-efficient windows.
- Liquid Crystal Glass: Accounts for around 10%, popular for privacy applications.
- By Application:
- Architectural: The dominant sector, due to the increasing focus on green buildings and smart homes.
- Transportation: Rapid growth in automotive and aviation applications, particularly for energy savings and enhanced passenger comfort.
- Consumer Electronics: Emerging applications include displays and smart wearable devices.
Drivers and Restraints:
Surging Amalgamation of Smart Glasses in Automotive Glass Panels to Foster Market
Numerous corporations in the global automotive industry are fixated on incorporating modern notions in their automobiles to generate a USP for their offerings. With bolstering consumer expenditure capacity in the past decade, customers too have persisted on comprising luxury features in the vehicular selection procedure.
The total cost of smart glass is decided based on material cost, electricity cost, and functional features, and installation expenses, which involve potential to regulate, the differential in transparency, and lowering competences.
Regional Insights:
Europe to Lead Stoked by Surging Demand for Product
The market size in Europe stood at USD 1,994.7 million in 2019. The conclusions of our research specify that Europe holds the largest smart glass market share. The rising product demand in the region is attributed to the surging uptake from architects and designers for restoration and retrofitting of the prevailing infrastructure.
In North America, enhancing the performance of end-use industries such as construction and automotive has resulted in augmented implementation of the smart kinds of glasses.
On the other hand, Asia Pacific shall witness a considerable growth in demand during the forecast period, owing to the thriving automotive and construction industries in the region.
Get More Information: https://www.fortunebusinessinsights.com/smart-glass-market-102569
Competitive Landscape:
Important Business-related Announcements by Key Players to Influence Market Dynamics
Fundamental companies in the market often make crucial announcements regarding some business moves, which in turn affect the market either positively or negatively. Players acquire companies, launch new products, engage in partnership deals, sign contracts with government organizations and so on.
Key Industry Developments:
March 2021: View Inc, installed smart windows have been installed at 730 Third Avenue, situated in the Midtown East neighbourhood of Manhattan.
List of Key Players Mentioned in the Report:
- Saint-Gobain (France)
- View, Inc. (U.S.)
- GENTEX Corporation (U.S.)
- Polytronix, Inc. (U.S.)
- Smartglass International Limited (Ireland)
- Glass Apps (U.S.)
- Scienstry, Inc. (U.S.)
- AGC Inc. (Japan)
- Research Frontiers (U.S.)
- Essex Safety Glass (UK)
- Gauzy Ltd and Entities (Israel)
- BSG Glass (Thailand)
- Asahi India Glass Ltd. (India)
- Schott AG (Germany)
- Central Glass Co., Ltd. (Japan)
- Pleotint LLC (U.S.)
- SPD Control Systems Corporation (U.S.)
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