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Smart Glass Market Size

  • Report ID: GMI1273
  • Published Date: Jun 2021
  • Report Format: PDF

Smart Glass Market Size

Smart Glass Market size was valued at USD 3.66 billion in 2020 and will showcase a growth rate of around 10.1% CAGR from the period of 2021 to 2027 owing to the rising awareness about energy losses through the residential & commercial infrastructure along with proliferating luxury automotive sales. The continuous R&D investments and development of new products will further be supporting smart glass demand over the study timeframe.

 

Smart glass, also known as switchable glass, light control glass, or privacy glass, is a glazing technology or glass, whose light transmission properties are altered with the changes in light, voltages, and heat applied. The transparency of glass changes from transparent product to translucent or opaque and vice versa, offering privacy along with energy savings in residential & commercial buildings. The products are used in a wide range of applications including construction & architecture, automotive, aircraft, electronics, and others.

 

Smart Glass Market Statistics

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Various OEM manufacturers are largely targeting residential & commercial fenestration owing to the rising demand for energy-efficient buildings. Energy conservation and lower CO2 emissions have become an inherent part of the environmental agenda in several economies including the U.S., the UK, France, China, Canada, and Germany.

Buildings and their maintenance utilize around 30%-40% of the primary energy supply for ventilation, heating, cooling, and lighting. On account of the high standard of living and architectural use of glass on a larger scale, these countries account for the highest use of HVAC systems to combat the incoming heat. In transportation, smart glass-based mirrors & windows are used in automobiles and aircraft lower glaring, resulting in lower accident risks, increasing response time, and providing privacy & security to passengers.

The ability of light control glass to provide improvised control on light transmission has made it popular among various interior designers and architects. Light control glass can easily transform a space from open to private, and anywhere in between with dimming structures and changing shading properties of glass windows and doors.
 

Further, privacy glass is becoming a popular choice amongst automotive customers to retain clear views through auto windows and sunroofs. Switchable glass minimizes solar rays that cause skin damage, road glare, and deterioration of interiors. The rising adoption of light control glass in the automotive & transportation industries is likely to enhance the smart glass market share over the forecast period.
 

Digitalization and technological advancements such as Industry 4.0, IIoT, and others are increasingly used by automotive manufacturers to minimize costs, adding value through customization to build a constructive & deep customer relationship. The automotive manufacturers are performing excellent in this field and working with switchable glass manufacturers to incorporate several technologies into their new innovations.
 

For instance, in January 2019, during the CES 2019 exhibition, Ford unveiled its “Feel the View technology”. The technology helps visually impaired occupants to feel the landscape with their fingers. Additionally, General Motors launched its new switchable glass window technology, which enabled parents to keep children occupied during long commutes, by allowing them to draw on the smart windows. Such innovations will enable the smart glass market manufacturers to expand their footprints in the automotive segment.
 

The COVID-19 pandemic has disrupted business process functioning of several industries across the globe and adversely affected the market in 2020. The exponential rise in the COVID-19 cases in North America, Europe, and Asia Pacific along with lockdowns by several economies including UK, France, Italy, Spain, and India, among others, during the first half of FY2020 has adversely disrupted the whole demand-supply scenario. The declined sales of automotive and lower investments in the residential construction sector during FY 2020 have shown severe adverse effects on the global smart glass market.

Authors: Kiran Pulidindi

Frequently Asked Questions (FAQ) :

Smart glass market size exceeded USD 3.66 billion in 2020 and will expand at a CAGR of 10.1% between 2021 and 2027.

Active smart glass technology will register 70% of market revenue through 2027 owing to its most sought-after attributes of tint change and switching speed.

Construction & architecture industry added a valuation of USD 2.04 billion in 2020 and will record lucrative growth due to increasing investments in emerging economies.

Europe smart glass industry will record a CAGR of 10.3% between 2021 and 2027 propelled by the extensive presence of glassmakers as well as global & regional smart glass manufacturers.

Smart Glass Market Scope

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 11
  • Tables & Figures: 302
  • Countries covered: 20
  • Pages: 226
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