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

According to latest analysis by Emergen Research, Smart Glass market size is projected to reach USD 13.19 billion by 2027. 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. Renewed confidence of consumers within the economy coupled with greater spending boosted the sales of light-and heavy-duty vehicles.

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 latest market intelligence report offers valuable insights into the prevailing growth opportunities for the global Smart Glass market and its intensely competitive scenario. The insightful data and information in the report have been gathered from a wide range of primary and secondary sources.

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Key Market Rivals:

• 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.
•  

While the smart glass technology was introduced to the market almost a decade back, it's solely within the last few years that makers have secured the funding and support necessary to initiate mass production. With the introduction of volume production units, makers are likely to attain scalability, which, in turn, can lower the price. With the increasing volume of production, the price of smart glass is anticipated to lessen by around 35-42%.

The global health crisis has led to dramatic changes in the market, significantly disrupting the Smart Glass industry. It has subsequently affected the industry’s supply chains and made prices of and the demand for the product highly volatile.

However, market experts believe that the global Smart Glass market will regain traction in the post-COVID era. The report further delivers preliminary and future COVID-19 impact assessments of the Smart Glass market.

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Some Key Highlights From the Report

• 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 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.

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Geographical Backdrop:

The global Smart Glass market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East Africa. In this section, authors of the report have studied the presence of the global Smart Glass market across major geographies.

Although North America held the major share of the market in 2019, Europe is emerging as a potential competitor with prominent sales figures coming from UK. With advancements in technology coupled with a recovering economy is expected to be the primary driving factors during the growth period. The ever-growing expenditure on energy is likely to trigger the demand for energy-efficient products. Extreme weather conditions being prevalent in multiple areas of Europe, smart glass offers an ideal solution for maintaining the internal temperature of vehicles and buildings, thereby cutting down energy costs.

For the purpose of this report, Emergen Research has segmented into the global Smart Glasses Market on the technology, application and region:

• Technology Outlook (Revenue, USD Billion; 2017-2027)
  • Electrochromic
  • PDLC
  • SPD
  • Thermochromic
  • Photochromic
• Application Outlook (Revenue, USD Billion; 2017-2027)
  • Architectural
  • Transportation
  • Consumer Electronics
  • Power Generation
  • Others

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