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Smart Glass Market (Technology - Electrochromic, Suspended Particle Devices (SPD), Polymer Dispersed Liquid Crystal (PDLC), Thermochromic, Photochromic, and Liquid Crystal; Application - Architecture, Transportation, Power Generation Plants (Solar), Consumer Electronics, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : December, 2020

  • Rep Id : ICT0121

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the smart glass market provides in-depth analysis of segments and sub-segments in the global as well as regional smart glass market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional smart glass market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts and dollar values of global smart glass market. According to the report, the global smart glass market is projected to grow at a CAGR of 16.36% over the forecast period of 2020-2026.

 

Market Insight

Smart glass is an innovative building material that is made up of electromagnetic glass to create room partitions, electronic curtains, privacy windows for the home and office, vision panels, and other applications. These smart glasses are electrically switchable surfaces that are able to change their properties when voltage, light, and heat are applied to them. The smart glass transforms from translucent to transparent bypass an electric current into the panels. Smart glass technologies contain electrochromic, photochromic, thermochromic, suspended particle, micro-blind and polymer dispersed liquid crystal devices.

 

The smart glass market has been severely affected by the spread of COVID-19. Disruption in the supply chain of smart glass has been the major obstacle for the growth of the market during pandemic. Moreover, the demand for smart glass has also been affected by the COVID-19 pandemic. Furthermore, the government lockdowns coupled with the concern over spread of coronavirus led many industries such as automotive and consumer electronics to reduce their production and close their manufacturing units in some countries. However, as the pandemic situation came under control, many countries including China, India, Thailand and South Korea eased the lockdown orders, restoring smart glass production to normal volume. This brings back the supply of smart glass to its pre-pandemic level. Moreover, as the pandemic situation cools down, the production of products using smart glass such as vehicles, consumer electronics and buildings is anticipated to grow. This, in turn, boosts the demand for smart glass from these industries.

 

Rapidly increasing the use of smart glass for developments in automotive industries and government initiatives to construct energy-efficient and eco-friendly buildings drive the growth of the smart glass market. Automotive smart glass supports temperature control, protection of interiors from degradation/staining from UV, dimmable shading in all windows to diminish blinding glare, projection applications for digital signage, and security in armored vehicles. In addition, the enlargement of application areas for smart glass technology and its various advantages such as energy efficiency, reducing carbon emission, and providing comfort for users are expected to enhance the market growth of smart glasses over the forecast period. However, High initial cost and lack of technical expertise are considered to be the restraining factors for the growth of the smart glass market. Moreover, inclinations of consumers towards energy conservation using smart glass technologies, and recent advancements in smart glass technologies are expected to serve more opportunities for companies working in this market in upcoming years.

 

The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and the Rest of the World. North America dominates the market of smart glass due to the favorable government rules and regulations. It holds a 37.41% smart glass market share in 2018. Europe is expected to grow at a CAGR of 15.58% because governments in the European countries are planned to introduce smart glass technology in several industrial applications. Asia-Pacific region is anticipated to grow at the highest CAGR of 20.28% over the forecasted period. The countries like China and India offer great opportunities for automotive market growth, so smart glass manufacturers are trying to expand their business in these emerging economies.

 

Smart Glass Market


Segment Covered

The report on global smart glass market covers segments such as technology, and application. On the basis of technology, the sub-markets include electrochromic, suspended particle devices (SPD), polymer dispersed liquid crystal (PDLC), thermochromic, photochromic, and liquid crystal. On the basis of application, the sub-markets include architecture, transportation, power generation plants (Solar), consumer electronics, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Asahi Glass Company, Gentex, Hitachi Chemicals, Pleotint, LLC, Guardian Industries Corp., Innovative Glass Corp., Kinestral Technologies, Inc., LTI Smart Glass Inc., Vitro Architectural Glass, and Saint-Gobain SA.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the smart glass market. Moreover, the study highlights current market trends and provides forecasts from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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