Smart Glass Market Size, Share, Growth, Forecast 2030

Smart Glass Market Size

The global smart glass market size was USD 5.82 billion in 2020 and is expected to reach USD 11.76 billion by 2028, growing at a CAGR of 8.7% from 2021 to 2028.

The blend of potash, silica, and lime at the heat is liable for the formation of a glass. Numerous components are often added to enhance the properties of glass. Smart Glass is an innovative construction material that is made from electrochromic glass. Smart glass is employed within the construction of smart partitions, windows, and skylights. Smart glass uses a complicated technology with external stimulus properties. It uses the concept of unpolluted technology. Smart glass can switch its properties consistent with the surface temperature. They are often controlled either manually or automatically to manage the sunshine and warmth.

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COVID-19 Impact Analysis:

The COVID-19 pandemic had an extraordinary impact on several industries. The automotive glass market is adversely impacted due to the temporary closure of assembly plants across the world. Within the second quarter of 2020, automotive sales were down by almost 40% worldwide, especially in Europe, impacting the general smart glass demand. Moreover, trade restrictions across national and international boundaries and other trade limitations have affected the glass industry's global supply chain, leading to lower sales activity. The demand for building glass also witnessed a huge drop owing to the slowdown of the development industry. However, the world markets are slowly opening to their full potential, and theirs a surge in demand for Smart Glass.

Growth Factors

Extensive research & innovation activities have widened the industrial applications of smart material. The increasing applications within the field of transportation are creating immense demand for smart glass. it's estimated that smart glasses installed in automobiles are capable of providing 98% UV protection and 40% solar reduction for creating the vehicles' cabins easier. Additionally, the emergence of energy-conservation initiatives, such as eco-friendly structures and green buildings, globally is anticipated to offer promising growth prospects to the market.

Global Smart Glass Market: Report Scope:

Segment Analysis Preview

Electrochromic Glass, thermochromic, SPD, and PDLC are the technologies used for smart glass. The application segment includes transportation, electronics, architecture, solar power generation, and others.

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Government support along with the large investments within the automobile sector to get novel products is boosting the worldwide smart glass market. The rising requirement for eco-friendly also as energy-efficient products is driving the smart glass market. Further important aspect contributing to the powerful growth of the smart glass market is its cost efficiency and minimum maintenance fees. Rising requirement for energy-efficient and broad sort of application products is offering an active growth opportunity for smart glass marketplace for the estimated period.

Rising technological advancements during this field and therefore the implementation of those enhancements is additionally one among the explanations for the event of the worldwide smart glass market. For example, in 2018, Fisker introduced its latest Fisker E-Motion offering an exclusive and pioneering four-segment SPD SmartGlass roof.

Regional Analysis Preview

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China demonstrates tremendous growth within the smart glass market owing to the need for high-end technologies also because of the increasing support of the local governments for using energy-efficient smart glasses. North America represents itself because the largest market landscape due to high utilization also because of the manufacturing of smart glass. During the forecast period, Europe is meant to witness interesting growth.

Key Market Players & Competitive Landscape

Key players profiled in the report include Smart Glass International Ltd., Raven Brick LLC, Glass Apps, Gentex Corp., AGC Ltd, Research Frontiers, Inc., SPD Control System Corporation, Pleotint LLC, SAGE Electrochromics, Hitachi Chemicals Co. Ltd, Scienstry Inc., SAGE Electrochromics, PPG Industries and View, Inc among others.

The global Smart Glass market is segmented as follows:

By Technology

• Electrochromic
• Thermochromic
• SPD
• PDLC

By Application

• Transportation
• Electronics
• Architecture
• Solar power generation
• Other

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa