Smart Glass Market Size, Share & Trends Analysis Report By Technology (PDLC, SPD, Electrochromic), By Application (Transportation, Power Generation, Architectural), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global smart glass market size was estimated at USD 5.83 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.9% from 2023 to 2030. The growing energy-conservation initiatives, such as green buildings and eco-friendly structures are expected to drive the market expansion. Moreover, favourable regulatory scenario facilitating financial and tax benefits is also positively influencing the market space. Rise in developments, including an increase in investment level and the establishment of industrial-scale production capacity, has contributed to the glass industry's growth. Recent trends in modern architecture, such as extensive use of window structures inside the buildings, increasing area of glazing, and maximizing external environment interference, are fuelling the demand for smart solutions.

Moreover, in multi-story buildings, smart device solution solves the problem of energy-saving and safety concerns. Many building owners and architects are striving for sustainable, green building initiatives that improve occupant health and well-being, energy efficiency, and environmental impact. Glass can be easily exchanged with old, traditional wooden windows providing an effortless transition to new technology. Products, including anti-glare frame windows and electrochromic films, are revolutionizing the glass technology industry. As end-use industries are recognizing unique aesthetics and technical attributes of smart devices, the demand for smart glass-based products is expected to increase in the near future.

Furthermore, the energy safety perspective and environmental regulations have driven the demand for energy-efficient glasses. Furthermore, reduced sun glare is the primary benefit offered by smart glass, resulting in reduced solar heat gains. According to the National Renewable Energy Laboratory, electrochromic windows reduce electricity consumption by up to 49% and decrease lighting costs by up to 51%. This has led to increased demand for electrochromic glasses in commercial buildings and transportation. Boeing 787-9 Dreamliner has incorporated electrochromic glasses in its windows. LG’s new product line of refrigerators features a darkened glass panel that illuminates to become transparent.

Photovoltaic cell-infused glass windows conserve energy by utilizing solar energy to generate electric power, thereby qualifying the construction proposal to reap the benefits of ‘The Green Building Tax Deduction’ 179D act. Increasing regulatory initiatives to install smart glasses are expected to drive the overall market growth over the forecast period with a high degree of penetration of smart solution devices in construction. The European Union and other regional bodies have established mandates for monitoring energy efficiency to administer the levels of transparency quotient and glass tinting. Growing consumer awareness is expected to fuel market demand in the future. Glasses bestows dynamic switching functionality to its users along with façade provision, heat insulation, and associated energy savings.

Smart glasses are priced twice as much as compared to their legacy counterparts, owing to their nascent origins and distinctive product characteristics. Key offerings of this technology include liquid crystal glasses, SPD glasses, and electrochromic glasses. Liquid crystal glasses cost around USD 50 – USD 65 per square foot. Liquid crystal glass solicitations are not new to the market as technology has long ago been commercialized in technology devices, such as LCD panels in televisions. Suspended particle devices smart glasses cost around USD 85 – USD 130 per square foot.

Market Dynamics

BURGEONING DEMAND FOR SMART GLASS-BASED PRODUCTS

Products, including anti-glare frame windows and electrochromic films, are revolutionizing the smart glass technology industry. As end-use industries are recognizing the unique aesthetics and technical attributes of smart glass, the demand for smart glass-based products is expected to increase in the near future. Furthermore, the energy safety perspective and the environmental regulations have driven the demand for energy-efficient smart glass.

Furthermore, reduced sun glare is the primary benefit offered by the smart glass, resulting in reduced solar heat gains. According to the National Renewable Energy Laboratory, electrochromic windows reduce electricity consumption by up to 49% and decrease lighting costs by up to 51%. This has led to increased demand for electrochromic glasses in commercial buildings and transportation. Boeing 787-9 Dreamliner has incorporated electrochromic glasses in its windows. LG’s new product line of refrigerators features a darkened glass panel that illuminates to become transparent.

INCREASE IN ADOPTION OF SMART GLASS IN THE AUTOMOTIVE & TRANSPORTATION INDUSTRY

Aerospace and transportation sector is projected to emerge as a major client for smart glass applicability, thereby contributing to the market revenue. Commercialization of SPD smart glass has uncovered several opportunities, such as rear-view mirrors, smart glass installations in side-view windows, and sunroofs.

These glasses reduce the built-up heat within the vehicles due to their ability to block solar heat gain. SPD automotive rear and side windows, along with sunroofs, offer abundant benefits to passengers and drivers. Their fast-switching features and infinite tuning features allow the reduction of unwanted glare and light, which enables users to enjoy not only the outdoor view but also the glare-free view of displays and video screens. The heat-blocking features improve fuel efficiency and reduce carbon emissions in vehicles.

Technology Insights

Electrochromic segment captured a significant market share of around 62.0% in 2022. This can be credited to increasing consumer demand, driven by the ability of electrochromic glass to control the amount of light passing through it, becoming opaque or transparent through a switch or a remote control. It allows light to pass through, preventing the entry of heat in times as hot as summer enabling lesser consumption of air conditioning in the house. Windows made of electrochromic glass increase visual comfort since light transmission can be reduced in periods, especially when there is excessive light from the external environment. It also enables energy savings.

In summer, high Infrared waves coming through the windows can cause a rise in temperature of the indoor environment. Reduction in the intensity of these waves decreases the energy used by air conditioners to keep the room temperature cool. On the other hand, these windows maximize the use of solar radiation to heat the environment during winter. Suspended particle device (SPD) segment is expected to witness the fastest CAGR of around 11.1% from 2023 to 2030 on account of its high stability against UV rays. It blocks around 99.5% visible light, which makes it suitable for energy control and shading, without blocking views.

SPD can be dimmed and tuned using an automation system and touch panel, which enables users to control the amount of light entering the room. Moreover, it eliminates glare, which reduces eye strain and provides a comfortable environment. For instance, Research Frontiers Inc. and Gauzy Ltd. & Entities exhibited the SPD-Smart light-control technology by the latter at the CES 2022 event focusing on Smart Cities. It demonstrated an entire smart city experience with an emphasis on display technologies and mobility solutions. Its high-end technologies based on PDLC and SPD can be integrated with personal and public vehicles, and buildings to reduce carbon emissions, save energy, and convert the glass into entertainment, information, privacy, and shading systems.

Application Insights

Transportation application segment accounted for a considerable market share of around 49.0% in 2022 due to an increased inclination of automakers toward adopting SPD glass, especially in the luxury car segment. SPD glass comprising a tint material blocks 99% of light providing shade as well as transparency required by the driver to operate the vehicle. The potential application of glass in transportation segment lies in vehicle windows displaying time and location-based information, dynamic shading by blocking up to 99% light, and temperature & solar control. For instance, in January 2023, BMW unveiled BMW iVISION Dee at the CES 2023 event, equipped with high-end technologies and ultra-modern design.

It has been endowed with glass technologies by Gauzy Ltd. & Entities. This new concept vehicle features the latter’s SPD and PDLC smart glass technologies throughout greenhouse glazing, offering an unprecedented experience that is light-controlled, private, and immersive as windows turn into digital displays. Integrating solar power generation with smart glass technologies has significant potential for sustainable energy generation and enhanced building performance. By incorporating solar panels into smart glass facades or windows, buildings can generate clean and renewable energy directly from sunlight.

This integration maximizes energy efficiency by utilizing available space for both power generation and smart functionality. Integrating solar panels into smart glass eliminates the need for separate mounting structures or dedicated land space, making efficient use of building envelope. Combining them allows seamless integration into building facades or windows maintaining architectural aesthetics and design flexibility. Smart glass can be employed to enhance the efficiency of solar panels by mitigating factors, such as glare, reflections, and shading. It also has coatings that can self-clean or repel dust, reducing the need for frequent manual cleaning and ensuring optimal performance of solar panels.

Regional Insights

North America dominated the market in 2022 accounting for largest revenue share of over 33.0%. This growth can be attributed to the growing inclination toward green buildings. Smart windows are emerging as a promising solution for sustainable and green buildings. As they control the amount of solar radiation entering a building, they can reduce heating and cooling energy needs of the building. Moreover, immense growth in the construction sector is opening new growth avenues for the market with shifting focus toward integrating energy efficiency solutions to deliver buildings that are appealing, affordable, low-carbon, and high-performance.

Asia Pacific is projected to record a fastest CAGR of over 11.0% from 2023 to 2030 as the region presents remarkable growth opportunities in the transportation sector. Increased investments in domestic and international constructions are driving the adoption of smart glass solutions in this region. In addition, strong momentum of the real estate sector in the region is further providing an impetus to market growth. Increasing inclination toward green buildings is also expected to offer significant growth opportunities for the regional market.

Another crucial factor favouring the expansion of regional market is the thriving automotive industry. Asia Pacific is a hub for several prominent automakers, such as Hyundai, Toyota, General Motors, Daimler-Benz, and Honda. For instance, in May 2022 AGC Inc., a smart glass manufacturer in the region, released a Low-E coating-based light-control panoramic roof, which has been deployed in LEXUS RZ, a BEV model by Toyota Motor Corporation. This new solution offers an open cabin environment, as well as a comfortable cabin temperature, eliminating sunshade and providing a lighter body.

Key Companies & Market Share Insights

Key players are rapidly evolving with unique strategies to gain a competitive edge and capture higher market share. Major players are emphasizing the development of innovative offerings to serve a large customer base and gain a competitive advantage. For instance, Gentex Corp. is innovating and enhancing its dimmable automotive mirrors by investing a large amount in the research and development. Several companies are forming strategic alliances, partnerships, and acquisitions to gain a strong foothold in the global market. For instance, In May 2023, Merck KGaA introduced new materials that offer superior flexibility, higher reliability, and longer lifetime in flexible OLED devices compared to existing solutions. New silicon dielectrics processed via low-temperature Plasma Enhanced – Atomic Layer Deposition (ALD) technology enables flexible OLEDs in superior display devices. Some of the prominent players in the global smart glass market include:

• AGC Inc.

• ChromoGenics

• Corning Incorporated

• Gauzy Ltd. and Entities

• Gentex Corporation

• Guardian Industries

• Halio Inc. (Kinestral Technologies Inc.)

• Merck KGaA (Merck Group)

• Nippon Sheet Glass Co. Ltd.

• PPG Industries Inc.

• RavenWindow

• Research Frontiers Inc.

• Saint Goblin S.A.

• Smartglass International Limited

• VELUX Group

• View Inc.

• Vision System

• Polytronix Inc.

• Smart Glass Technologies

Recent Development

• In February 2023, AGC Inc. announced its partnership with Saint-Gobain flat glass manufacturers. This collaboration aimed to design a flat glass line which reduce CO2 emissions significantly.

• In February 2022, ChromoGenics entered a cooperation agreement with Finnglass Oy for the manufacturing, marketing, and distribution of dynamic glass ConverLight Dynamic. The latter is known to be a leading supplier of advanced glass solutions with expertise in the integration of electrical functions in glass and modern processes of manufacturing.

• In May 2022, AGC, Inc. developed a Low-E coating based light-control panoramic roof, which will be incorporated in Toyota Motor Corporation’s LEXUS RZ. The Low-E glass with high solar control and heat insulation characteristics will provide a comfortable cabin temperature and an open cabin environment. Its ability to eliminate sunshade provides a lighter body.

Smart Glass Market Report Scope

Global Smart Glass Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global smart glass market report based on technology, application, and region:

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • Electrochromic

  • Polymer Dispersed Liquid Crystal (PDLC)

  • Suspended Particle Devices (SPD)

  • Thermochromics

  • Photochromic

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Architectural

  • Transportation

    • Automotive

    • Aircraft

    • Marine

  • Consumer Electronics

  • Power Generation

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa

    • Saudi Arabia