The global smart glass market was valued at USD 2,738 million in 2017 and is anticipated to grow at a CAGR of 13.1% during the forecast period. Smart glass is an advanced and innovative building glass used for partitions, windows or skylights, also known as electrochromic glass or electronically switchable glass. Smart glass offers the option of controlling the amount of heat or light passing through the glass, enabling users to regulate temperatures or provide privacy. Smart glass technologies include electrochromic, photochromic, thermochromic, suspended particle, micro-blind and liquid crystal devices to control the transparency of glass.
The growing need for energy efficiency, increasing energy costs, and rising use of smart technologies drive the growth of the smart glass market. There has been increasing awareness among consumers regarding use of energy efficient structures, which further supports market growth. The increasing demand for smart glass from the automotive sector also boosts the market growth. The reducing prices of electrochromic materials, and increasing adoption of energy efficient buildings accelerate the adoption of smart glass. Other factors driving the market include supportive government regulations, increasing awareness, and technological advancements. Growing demand from emerging economies, and increasing consumer awareness are factors expected to provide numerous growth opportunities in smart glass market during the forecast period.
The global smart glass market is segmented on the basis of type, technology, end-user, and region. Based on type, the market is segmented into active smart glass, and passive smart glass. On the basis of technology, the market is segmented into Suspended Particle Display, Liquid Crystals, Micro-Blinds, Nanocrystals, and others. The end-users included in the report are automotive, architecture, consumer goods, and others.
This report comprises a detailed geographic distribution of the market across North America, Europe, APAC, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. North America accounted for the largest share in the Global Smart Glass market in 2017.
The leading players in the smart glass market include Asahi Glass Co., DuPont, Gentex Corporation, SPD Control Systems, View, Inc., Corning Incorporated, Hitachi Chemical Co., Ltd., RavenBrick LLC, Switch Materials Inc., Scienstry, Inc., ChromoGenics AB, and Innovative Glass Corporation among others. These leading players in the smart glass market are introducing innovative products in the market to cater to the consumers. Global players are entering new markets in developing regions to expand their customer base and strengthen market presence.