Smart Glass Market Size, Share & Trends Report

Smart Glass Market Size, Share & Trends Analysis Report By Technology (SPD, PDLC, Liquid Crystal, Electrochromic), By Application (Consumer Electronics, Architectural, Transportation), And Segment Forecasts, 2019 - 2025

  • Published Date: Jun, 2019
  • Base Year for Estimate: 2018
  • Report ID: 978-1-68038-213-6
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 111

Industry Insights

The global smart glass market size was valued at USD 3.71 billion in 2018 and is expected to register a CAGR of 15.2% from 2019 to 2025. Increased implementation of sustainable solutions in the architectural and automotive sectors is driving the market growth. These products have garnered widespread importance as end-use industries are realizing their technical attributes and distinctive aesthetics. Moreover, energy-efficient glasses are witnessing high demand as a consequence of policy-driven environmental and energy safety perspective. Administrative support through financial benefits and tax initiatives is also stimulating market growth.

Architecturally advanced construction philosophies incorporating the installation of large windows in the majority of buildings are projected to drive demand in Europe. Smart glass has gained importance due to its inherent capability of thermal and acoustic insulation, energy conservation, and aesthetic 3D designer proposition. The automotive and residential applications have witnessed a dynamic phase change in functionalities from legacy weather protection features to seclusion apparatus and advanced energy-conserving.

U.S. smart glass Market

Moreover, positive outlook for the construction industry, recovering automotive production, and rising investments in infrastructure projects are also contributing to industry growth. Numerous opportunities exist in restoration and renovation activities as several windows in the current infrastructure lack energy efficiency. On the other hand, presence of viable substitutes, such as chemical glazes and decals & coatings, may hamper the industry growth.

However, the industry is expected to witness substantial growth due to stringent regulations for energy efficiency and rapid urbanization in developing countries leading to increased need for infrastructure development. In addition, consolidations between technology providers and suppliers are fueling the product demand. Recently at CES 2018, Fisker Inc. launched an Electric Vehicle (EV) Fisker E-Motion with SPD smart glass roof. In addition, the company announced its further plan to introduce SPD smart glass technology for side windows. McLaren, a sports car manufacturer, used electrochromic glass for the roof and door windows in the Speedtail Hyper-GT model.

Technology Insights

The electrochromic smart glass segment is projected to witness a substantial growth owing to unique facets, such as reduced response time to apply glass effect at low voltage consumption and delivering high blockage ratio of hazardous IR and UV rays. The growth can also be attributed to the dynamic applicability in automotive and domestic sectors.

High disposable income levels and rise in demand for luxury automobiles is also one of the significant factors contributing to the product demand. The growth of liquid crystal is mainly drive by its low driving voltage, high heat endurance, humidity & UV tolerance, and inherent capability to sustain variable temperatures ranging from -30 to 80°C. Liquid crystal glass is installed for privacy control solutions and also as makeshift projection screens.

Suspended Particle Devices (SPD) is the largest technology segment as this type of glasses have the capability of saving more than 25% of the current electrical usage. The energy consumption in commercial and residential buildings is reduced by controlling solar radiations through windows that dramatically reduce HVAC energy usage. Reducing the usage of electric power leads to increased energy savings due to the maximum utilization of daylight.

Application Insights

The transportation segment accounted for the highest market share in 2018 and is projected to retain its leading position throughout the forecast years. Smart glass is widely used in doors, windows, rear-view mirrors, sunroofs, and windshields of vehicles. Rising need for reducing heat build-up and limiting the viewing degree is driving the product demand in this sector. The segment is further categorized into automotive, aircraft, and marine. Automotive sector is the largest consumer of switchable glass and captured the largest revenue share of more than 70% in 2018. The technology provides protection from UV rays and controls heat inside the vehicles by limiting energy consumption.

Moreover, initiative for reducing CO2 emissions and minimizing energy consumption are encouraging manufacturers to develop anti-heat glass and glazing solutions. High demand for luxury automobiles, especially in Asia Pacific, is driving the market growth. Furthermore, major aerospace manufacturers, such as The Boeing Company, Beechcraft Corporation, Airbus SA, Bombardier Inc., and Embraer S.A., are shifting towards electronically dimmable windows.

Global smart glass Market

The construction sector has contributed significantly to the industry growth in 2018 owing to continual investment in smart technology. Skyscrapers and high towers in MEA have incorporated this technology that has helped in reducing heat and light transmissions to maintain the internal ambiance. Furthermore, architects are using switchable glasses in the construction of new buildings, which is estimated boost the market growth in architectural applications. Also, it is one of the fastest commodity replacing concrete and other building materials to provide a vibrant and dynamic dimension.

In addition, the new construction market is anticipated to be more responsive to these glass solutions as compared to the refurbishment market. The corporate sector is one of the major consumers of switchable glass, with an increased installation of the product in cubical partitions and conference rooms, mainly due to its façade characteristics, such as translucent diffusion. The replacement market growth is restricted due to the pre-existing architectural framework of buildings as in their blueprints.

Regional Insights

North America was the largest market in 2018 and is projecetd to maintain its dominacne over the forecast years. Favorable regulations and mandates have led to the growth of the regional market. They have not only added to the overall energy savings but also reduced the maintenance costs, which has had a positive impact on the market. The U.S and European governments have planned to install the electronics equipment with smart glasses and have addressed their transport department towards the same.

Increasing automotive production and presence of key companies in North America are contributing the region’s growth. Rapidly expanding real estate sector in Asia Pacific is projected to offer numerous growth opportunities over the next few years. Furthermore, growth opportunities exist in the areas of transportation and consumer electronics as manufacturers are increasingly using tinted and switchable products as an alternative to conventional glasses. For instance, the new Mercedes-Benz SLC has incorporated the SPD technology developed by Research Frontiers.

In the Europe residential sector, Leadership in Energy and Environmental Design (LEED) and Nearly Zero-Energy Buildings (NZEB) have laid down certain discretionary regulations to augment the green building construction, consequently ensuring the use of eco-friendly material. Specific automotive laws bound the application of tint and glazes on automotive windows to maintain a certain degree of transparency for security concerns.

Smart Glass Market Share Insights

The industry is led by a few major companies, such as AGC, Inc.; Corning Inc.; Saint-Gobain; and DuPont de Nemours, Inc., which offer niche solutions for end-use applications. However, as no single company has expertise in manufacturing all kinds of smart glass technologies, there exists a significant opportunity for consolidations, to gain a stronghold in the market. Key companies focus more on investments and partnerships with technology providers to develop innovative and differentiated products. For instance, in February 2017, Kinestral Technologies invested a significant amount to begin its smart glass production in Taiwan.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Market revenue in USD Billion and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, and MEA

Country scope

U.S., Canada, U.K., Germany, China, Japan, Brazil, and Mexico

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2025. For the purpose of this study, Grand View Research has segmented the global smart glass market report on the basis of technology, application, and region:

  • Technology Outlook (Revenue, USD Million, 2014 - 2025)

    • Electrochromic

    • Polymer Dispersed Liquid Crystal (PDLC)

    • Suspended Particle Devices (SPD)

    • Thermochromic

    • Photochromic

  • Application Outlook (Revenue, USD Million, 2014 - 2025)

    • Architectural

    • Transportation

      • Automotive

      • Aircraft

      • Marine

    • Consumer Electronics

    • Power Generation

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • Japan

    • Latin America

      • Mexico

      • Brazil

    • Middle East and Africa

Key questions answered by the report
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