Global Smart Glass Market: Overview

The demand for more sustainable energy, on the grounds of the dwindling energy sources, has increased considerably in the recent years. This has led to several governments across the globe to impose strict rules and regulations and take up initiatives to cut down the consumption of energy. Smart glass plays an important role in saving the excessive consumption of energy needed for cooling, lighting, and heating in green buildings. Green buildings are being promoted by governments of the developed economies. This has been the primary driving factor for the growth of the global smart glass market. It is expected that this growth will continue at a rapid pace in the coming years. However, high costs associated with smart glass and readily available cheap alternatives may hamper the growth of the global market in the coming years.

The global forecast market stood at an overall valuation of US$2.10 bn in the year 2015. It is expected to reach a total valuation of US$7.04 bn by the end of the forecast period in 2025. The growth in the period of 2016 to 2025 is expected to be achieved at a strong CAGR of 14.50%.

smart glass market

Transportation Sector to Dominate Global Smart Glass Market Owing to Large Scale Adoption

The demand for smart glass is high in different segments such as transportation, consumer electronics, solar power generation, and architecture. Amongst the mentioned sectors, transportation segment has emerged to be the leading end user application segment across the globe and is projected to continue its domination in the coming years. The growing use of smart glass in sun visors, sun roofs, side and rear windows in the top-class premium cars have significantly boosted the development of the global smart glass market in the transportation sector. In addition to this, use of smart glass in the aviation sector has also contributed significantly in the overall development of the global market. With the current boom in the automotive sector, the demand for smart glass will probably show even more growth in the coming years. The transportation sector accounted for nearly 57% in the overall smart glass market in 2015. Consumer electronics and architecture sectors are also expected to witness steady rise in the global smart glass market in coming years.

North America to Continue its Dominance in Market Thanks to Increasing Focus on Renewable Energy Sources

Geographically, the global smart glass market is divided into key regions such as Asia Pacific, Middle East and Africa, North America, Europe and Latin America. North America region led the global smart market in 2015, accounting an overall market share of 30%. It is projected that the North America smart glass market will continue its dominance across the global market in the coming years. This growth is mainly because of increasing focus on renewable sources of energy such as solar power. Smart glass plays an important role in the solar power generation, thus positively influence the regional market in the coming years.

Asia Pacific, among other key regions, is currently experiencing considerable growth in the smart glass market. This region is expected to show the most lucrative growth prospects over the course of the given forecast period owing the rapid development in the economic conditions in nations such as Korea, Japan, and China. The developing segments in the region such as construction and housing, transportation, consumer electronics, and solar energy generation are projected to spur the demand for solar panels, and thus drive the growth of smart glass market in the region.

Some of the key companies plying their trade in the global smart glass market include names such as DuPont, Smartglass International Ltd., Polytronix Inc., Research Frontiers, and iGlass among others.

Global Smart Glass Market: Overview

Smart glass is a type of glass which changes its illuminating properties if any external stimulus such as heat, light or current is applied to it. Smart glasses are basically classified into two distinct types, active smart glass and passive smart glass. Active smart glass is that type of glass which responds to an electric current whereas passive smart glass is responsive to environmental factors such as heat & light. Smart glass has excessive applications in end-use sectors such as transportation, architectural, consumer electronics and solar power generation.

The report provides in-depth analysis and forecast of the smart glass market on the global as well as regional level. The report includes forecast for the period from 2016 to 2024 in terms of volume (Mn Square Meters) and revenue (US$ Mn). Quantitative data has been derived through extensive secondary research of the global smart glass market. Secondary sources typically include company websites, relevant magazines, government documents, and press releases. The top-down approach has been adopted to derive the regional numbers from global revenue and volume figures.

Furthermore, the bottom-up approach has been employed to derive data for various technology type and end-use sectors based on demand for smart glass in each geographical segment. A combination of top-down and bottom-up approaches helps in validation of the quantitative data of the market. The data was further validated with the help of primary research with industry experts to ensure accuracy of derived numbers.

Global Smart Glass Market: Scope of the Study

Detailed analysis of various factors driving the global smart glass market has been included for astute decision making. Impact of these drivers during the forecast period has been included with data to substantiate research findings. Furthermore, factors restraining market growth have been included for better understanding of the market. Impact of these restraints has been analyzed over the forecast period. The report also comprises various opportunities available for market growth over the next eight years. Opportunities entail untapped or recently explored factors that are anticipated to drive the smart glass market during the forecast period.

The report includes value chain analysis to help understand the industry thoroughly. Value chain analysis comprises detailed evaluation of the roles of various entities involved in the smart glass industry, from raw material suppliers to end-users. Various processes employed in the manufacture of smart glass have been included in the value chain analysis. Porter’s Five Forces model has been included to determine the degree of competition in the market during the forecast period.

Furthermore, market attractiveness analysis has been conducted to analyze application segments that are expected to be lucrative during the forecast period. This is based on various factors such as market size, growth rate, profitability, raw material procurement, and competition in each application segment. Based on technology type, the smart glass market has been segmented into electrochromic, liquid crystal, photochromic, thermochromic, and suspended particle devices. In terms of region, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Demand for smart glass in each technology type has been analyzed and forecast for a period of eight years.

Global Smart Glass Market: Competitive Analysis

The report comprises detailed analysis of all the segments in the regional and global markets and forecast based on current and future trends in the industry in terms of volume (Mn Square Meters) and revenue (US$ Mn). It also comprises profiles of leading companies in the smart glass market. These include Asahi Glass Corporation, DuPont, Research Frontiers, Saint-Gobain Group, and Smartglass International Limited. Various attributes of these companies such as company overview, business strategies, and recent developments form the core of the company profiles section.

This report segments the global smart glass market as follows:

By Technology

  • Electrochromic
  • Liquid Crystal
  • Suspended Particle Device
  • Thermochromic
  • Photochromic

By End User

  • Architectural
  • Consumer Electronics
  • Transportation
  • Solar Power Generation

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • France
    • U.K.
    • Germany
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan & Korea
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA