After
Prolonged Pandemic - Manufacturers are Now Focus on Product Diversification
During the coronavirus crisis,
manufacturers were responding to negative market sentiment by making
data-driven decisions before ramping up manufacturing of smart glass products.
Throughout the analysis period, the smart glass market is expected to rise
rapidly. Manufacturers should expand R&D in technologies such as
self-adhesive switchable glass, which is a cost-effective solution for
replacing existing windows, because the high cost of smart glass may influence
sales. Smart glass technology can be used in partitions, windows, and a variety
of transparent surfaces in a variety of industries. Privacy in smart homes can
be achieved through the use of smart glasses. Smart glasses allow for the
removal of unsanitary curtains that are difficult to cleanse or clean.
Electronically Switchable Glass has Potential
to Influence Fuel Efficiency in Automobiles
The increasing desire for
privacy, energy efficiency, light and heat control, architectural innovation,
and automated shading is driving up demand for smart glass. Smart glass, also
known as electronically switchable glass, provides interior designers and
architects with new ways to manage UV radiation, light, and glare. Smart glass
is becoming increasingly prevalent in high-end vehicles. Auto thermal heating
and cooling in response to external weather variations is critical for fuel
efficiency and reduces fuel management load on automotive engines. As a result,
the surge in smart glass installations in sunroofs, sun visors, and side and
rear windows is moving the worldwide smart glass industry forward.
Smart Glass Innovations to Help Increase
Solar Power Generation Efficiency
Renewable energy sources are capturing the attention of
environmentally aware individuals. One of the most widely used renewable energy
sources is solar energy. Many countries are working to increase solar energy
generation. The start-ups based in the United States are working on creating a
glass that can harness solar energy to generate power. These glasses have a
typical appearance but a photovoltaic (PV) window coating to store solar
energy. These advancements are propelling the smart glass industry forward.
Smart Glass Market Segmentation
The global smart glass market is
segmented on the basis of technology and application.
On the basis of Technology:
·
Polymer Dispersed Liquid Crystal (PDLC) Glass
·
Suspended Particle Device (SPD) Glass
·
Electrochromic (EC) Glass
·
Photochromic Glass
·
Thermochromic Glass
·
Others
On the basis of Application:
·
Architectural
·
Automotive & Transportation
·
Consumer Electronics
·
Power Generation
·
Others
Integration of Smart Glass in Vehicle Glass
Panels to Fuel Market Growth
In 2022, the transportation
application category had a significant market share of roughly 50%. The
transportation industry is further subdivided into aviation, automobiles, and
marine. The increased adoption of smart glass by luxury automobile
manufacturers can be attributed to the significant expansion in the automotive
market. Rising demand is pressuring market participants to expand their product
portfolio in this category in order to obtain a competitive advantage. For
example, in September 2021, BMW debuted the BMWi Vision Circular Showcar at the
IAA Auto Show, fitted with a revolutionary headlamp made utilising Gauzy Ltd.'s
SPD LCG Technology. Smart glass technology is widely used in commercial office
buildings and corporate headquarters because it significantly reduces costs
while increasing worker efficiency. In the coming years, self-cleaning glasses,
low-emissivity glasses, and sun control glasses are likely to become popular
options in the building industry. The growing number of infrastructure
projects, as well as restoration and renovation activities in residential and
commercial spaces, are all helping to propel the architectural sector forward.
Other than this AGC Inc., Gentex
Corporation, Guardian Industries, Kinestral Technologies, Inc., ChromoGenics, Research
Frontiers Inc., Saint-Gobain S.A., Corning Incorporated, Gauzy Ltd., Nippon
Sheet Glass Co., Ltd., PPG Industries, Inc., RavenWindow, Showa Denko Materials
Co., Ltd., Smartglass International Limited, VELUX Group, View, Inc., Vision
Systems are some of the prominent market players operating in the global smart
glass market.
Developing Region to Uplift Market Growth
Significantly
The Asia Pacific region is
predicted to display innovative growth in the global smart glass market. This
is owing to the factors influencing applications in human UV protection and
furniture and fabric fading. Other applications include smart glasses deployments
and the most recent construction projects that can bode well for the region.
Because of the obvious usage of SPD in the latest variations of Mercedes-Benz
automobiles, there are prospects in the transportation and consumer electronics
sectors in these locations. North America is also predicted to command a
significant demand share of the smart glass market. This region is growing as a
result of the favourable Mendez for cutting energy costs. There is one in North
America.
The report provides a detailed
overview of the smart glass market insights in regions including North America,
Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa.
The country-specific assessment for smart glass market has been offered for all
regional market share, along with forecasts, market scope estimates, price
point assessment, and impact analysis of prominent countries and regions.
Throughout this market research report, Y-o-Y growth and CAGR estimates are
also incorporated for every country and region, to provide a detailed view of
the smart glass market. These Y-o-Y projections on regional and country-level
markets brighten the political, economic and business environment outlook,
which are anticipated to have a substantial impact on the growth of the smart
glass market. Some key country and region included in the smart glass market
report as follows:
North America (U.S., Canada)
Latin America (Mexico, Argentina,
Brazil, Peru, Chile)
Europe (Germany, France, Italy, U.K.,
BENELUX, Nordics, Spain, Poland, Russia, CIS)
Asia Pacific (China, ASEAN, India,
Japan, South Korea)
Oceania (Australia, New Zealand)
Middle East and Africa (South
Africa, GCC Countries, Turkey, Israel, Iran)
The Smart Glass Market Research Report
Covers In-depth Analysis on:
·
Smart glass market segments
·
Smart glass market dynamics
·
Smart glass market value and share analysis
·
Recent trends, restraints, opportunities in smart
glass market
·
Companies & competition involved smart glass
market
·
Latest technologies in smart glass market
·
Supply chain and value chain smart glass market
·
Smart glass market sales and distribution
strategies
Smart Glass Market Growth Highlights:
·
A comprehensive overview of parent market
·
Market dynamics, demand and trends in the
industry
·
Current, historical and anticipated market size in
terms of volume
·
In-depth market segmentation
·
Competition landscape
·
Key Strategies of leading companies and product
portfolio
·
Smart glass industry trends and developments
·
Potential and country, regions and segments
exhibiting future growth
·
A detailed viewpoint on smart glass market forecast
by countries
·
Essential information to enhance market position
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