Smart Glass Industry Overview
The global smart glass market size is expected to reach USD 9.58 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.0% from 2022 to 2030. This can be attributed to the growing product demand across the transportation and architectural sectors. The emerging trend of deploying innovative technologies in new buildings has instigated the adoption of smart glass products in the architectural sector.
Smart Glass Market Segmentation
Grand View Research has segmented the global smart glass market based on technology, application, and region:
Based on the Technology Insights, the market is segmented into Electrochromic, Polymer Dispersed Liquid Crystal (PDLC), Suspended Particle Devices (SPD), Thermochromics and Photochromic.
- The electrochromic glass segment had accounted for a sizeable share of over 83.0% in 2021.
- This can be largely attributed to the benefits associated with the product, such as the high blockage ratio of UV and IV rays, low driving voltage, and the ability to integrate with large glass panels easily.
- The suspended particle device (SPD) smart glass segment is expected to witness the highest CAGR of around 5.0% through 2030 on account of its high stability against UV rays.
- The growing proclivity towards ‘Green Energy’ resources is further driving the demand for PDLC smart glass technology.
Based on the Application Insights, the market is segmented into Architectural, Transportation, Consumer Electronics and Power Generation.
- The transportation application segment captured a considerable market share of around 49.0% in 2021.
- The transportation segment is further bifurcated into aircraft, automotive, and marine.
- The notable growth in the automotive segment can be ascribed to the heightened adoption of smart glass by luxury car manufacturers.
- Self-cleaning glasses, low-emissivity glasses, and solar control glasses are likely to become prominent offerings for the construction sector in the upcoming years.
- The increasing number of infrastructure projects, as well as restoration and renovation activities in residential and commercial spaces, are strongly contributing to the growth of the architectural segment.
Smart Glass Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Key Companies Profile & Market Share Insights
The major market players are emphasizing the development of innovative offerings to serve a large customer base and gain a competitive advantage.
Some prominent players in the Smart Glass market include
- AGC Inc.
- ChromoGenics
- Corning Incorporated
- Gauzy Ltd.
- Gentex Corporation
- Guardian Industries
- Kinestral Technologies, Inc.
- Nippon Sheet Glass Co., Ltd.
- PPG Industries, Inc.
- RavenWindow
- Research Frontiers Inc.
- Saint-Gobain S.A.
- Showa Denko Materials Co., Ltd.
- Smartglass International Limited
- VELUX Group
- View, Inc.
- Vision Systems
Order a free sample PDF of the Smart Glass Market Intelligence Study, published by Grand View Research.
Browse More: https://www.grandviewresearch.com/research-insights/metaverse-market-snapshot
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