The global Smart Glass Market is projected to reach USD 13.19 billion by 2027, according to a recent report by Emergen Research. Renewed confidence of consumers within the economy coupled with greater spending boosted the sales of light-and heavy-duty vehicles. The demand for automotive glass is driven by several factors. The replacement volume of glasses is likely to grow with rise in the total vehicle population and kilometers driven. Adverse road conditions with difficult weather is likely to stimulate the demand for automotive glass replacement. However, buyers tend to defer from fixing minor injury to a windscreen till a vehicle is held up for sale or scrutiny. Therefore, sales of recent vehicles, turnover of used vehicles, and laws for vehicle scrutiny influence the demand for smart glasses in the automotive sector on a global scale.
The usage of smart glass is ideal for aviation, automobile and the other transportation applications requiring heat and glare management. Throughout the automotive sector, smart glass is employed in applications like windows, rearview mirrors, sunroofs, and windshields. Smart glass provides protection from harmful ultraviolet (UV) rays by reducing glare, assists in heat management within vehicles, as well as reduce energy consumption, making the vehicle efficient all throughout.
The growth of the market is attributed to the increasing demand for smart glass across the automobile industry and declining prices of electrochemical materials over the recent past
Smart Glass Market Size – USD 4.28 Billion in 2019, Market Growth – CAGR of 15.1%, Market Trends
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Key participants include Gentex Corporation, AGC Inc., NSG Group, Saint-Gobain, View Inc., AGP Americas, Smartglass International, Polytronix, Hitachi Chemicals, SPD Control Systems, Innovative Glass Corp, Fuyao Glass, TaiwanGlass Group and Central Glass. among others.
The electrochromic smart glass technology dominated the market in 2019. The electrochromic technology has been utilized in rearview mirrors across the automotive sector. With the recent advancements, it is additionally found suitable for windows as well as sunroofs. Although the electrochromic smart window technology isn’t used in abundance within the design or building applications, it’s expected to revolutionize the design sector in the upcoming years, accounting for a prominent share of the market by 2025. Commercial building especially corporate and government bodies are expected to be early adopters of the electrochromic technology.
The transportation application is anticipated to have the largest share of the smart glass market throughout forecasted period, as several automobile makers are incorporating smart glass materials in their vehicle to get benefited from its remote access capability, dynamic light emission adjustment properties and antiglare property.
Technology Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
In November 2018, View Dynamic Glass, a US-based smart glass company, received one of the biggest VC investments of USD 1.1 billion from SoftBank Vision Fund. This is to manufacture “dynamic” glass windows that can change the tint to let in the right amount of natural light without obstructing views.
The latest market intelligence report, titled ‘Global Smart Glass Market’, is intended to provide the target audience with the necessary information about the global Smart Glass industry. The report comprises a detailed analysis of the vital elements of the Smart Glass market, including key drivers, constraints, opportunities, limitations, threats, and micro- and macro-economic factors. The report carefully investigates the present market scenario and the fundamental growth prospects. The report entails an organized database of the Smart Glass market dynamics that helps market analysts estimate the global market growth rate over the projected timeline
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Global Smart Glass Market Report – Table of Contents:
Chapter 1 includes the global Smart Glass market introduction, followed by the market scope, product offerings, growth opportunities, market risks, driving forces, and others.
Chapter 2 broadly categorizes the Smart Glass market on the basis of geography, and determines the sales, revenue, and market shares of each region over the estimated period.
Chapter 3 elaborates on the competitive outlook of the Smart Glass market, focusing on the major manufacturers and vendor landscape.
Chapter 4 exhaustively studies the key manufacturers of the Smart Glass industry, along with their anticipated sales and revenue shares.
Chapters 5 includes market segmentation based on product type, application range, and market players.
Smart Glass Market Segmentation by Region:
Middle East & Africa
Overview of the Smart Glass Market Report:
Introduction, Product Scope, Market Overview, and Opportunities
Analysis of the Manufacturers with sales, revenue, and price analysis
Comprehensive analysis of the competitive landscape
Extensive profiling of the key competitors along with their business strategies and market size
Regional analysis of the market along with sales, revenue, market share, and global position
Country-wise analysis of the market along with types, applications, and manufacturing
Strategic recommendations to established players as well as new entrants
In-depth analysis of the risks, restraints, and limitations in the Smart Glass industry
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