Ameco Research forecasts that the global Smart/Switchable Glass Market industry will rise at a CAGR of more than 6% during the analysis period, reaching a market size of over USD 7,500 Million by 2028.
Smart/switchable glass technologies change the quantity of light that passes through normally clear materials, making them look translucent, transparent, or opaque. Smart glass is dynamic and versatile, bringing life to a generally static material. Visible light, UV light, and infrared light can all be controlled using this method. Transparent materials (such as glass or polycarbonate) can transform from clear to shaded or completely opaque on command, making privacy glass conceivable. Smart/switchable glass is used in commercial offices or workplaces, hospitals, educational institutions, bathrooms, residential areas, windows, car windows, doors and sliding doors, rear screens, floor, and a variety of other uses.
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Increasing consumption of smart glass in the automotive industry surges the demand for market
Smart glass is becoming more popular in high-end vehicles because it provides improved comfort by reducing heat from the environment, managing glare from sunshine, and improving security and privacy. The prevalence of smart glass will expand in the next years as manufacturers invest heavily in R&D. The global smart glass in the automotive market is being driven by the growing global automotive market and the critical glasses being implemented in these vehicles. Automobile buyers are also becoming more aware of this technology, and for the sake of luxury and comfort, they are incorporating it into their vehicles, supporting the smart glass aftermarket.
The market for smart glass has grown as a result of a rising trend toward sustainable buildings due to a larger demand for energy savings, stringent carbon goals, and the aging of existing buildings. The product's integration into buildings improves privacy, light control, and heat management. It can also provide excellent air quality and flexible space utilization. The growing demand for electrochromic, thermochromic, and photochromic glass due to its transmission qualities will further contribute to the expansion of the smart glass market. Furthermore, as a result of a policy-driven view on environmental and energy security, energy-efficient glasses are expected to generate new chances for the worldwide smart glass industry's growth in the forecast period. However, lack of awareness and high cost of the smart/switchable glass are the factors that are creating hurdles in the growth of the market.
Global Smart/Switchable Glass Market Segmentation
The global smart/switchable glass market is segmented based on technology, end-user industry, and regions. The technology segment is further segmented into suspended particle devices (SPD) glass, electrochromic (EC) glass, polymer dispersed liquid crystal (PDLC) glass, thermochromic, photochromic, and others. The electrochromic (EC) glass segment gathered a significant amount of share in 2020. Low driving voltage, high UV and IV ray blocking ratio, and ease of integration with big glass panels are likely to propel the electrochromic glass segment forward over the forecast period. However, the suspended particle devices (SPD) glass segment demand is predicted to be high during the forecast period owing to the rising demand from the construction and automotive industries.
On the basis of end-user industry, the segmentation can be further divided into architecture & construction, automotive & transportation, aerospace & defense, electronics, and others. The automotive and transportation segment is expected to lead the segment with the largest shares in 2020. The demand from automotive and transportation segment is expected to remain strong during the forecasted years owing to the benefits of smart glass such as antiglare property, remote access, and dynamic light emission adjustment.
The regional segmentation includes North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2020, North America conquered the maximum chunk of revenue from the global smart/switchable glass market. The expanding migration to urban regions, rising consumer spending, the presence of foreign players in this region, and technical improvements are just a few of the elements propelling this region's growth. The Asia-Pacific region is likely to lead the global smart/switchable glass market with innovative growth. This is owing to the factors affecting the applications in human UV protection and furniture and fabric fading. Other applications include the use of smart glasses and the latest construction projects that have the potential to benefit the region.
Major Players
The smart/switchable glass market is consolidated with a big number of players. The prominent players offered in the report include AGC Inc., Asahi India Glass Ltd., BSG Glass, Central Glass Co., Ltd., Control Systems, Inc., Essex Safety Glass, GENTEX Corporation, Polytronix, Inc., Saint-Gobain, SPD Schott AG, Scienstry, Inc. and View, Inc.
In December 2018, AGC became the first firm in the world to use anti-fogging glass (exeview) technology capable of providing a clear field of vision for drivers in the Daihatsu Copen Coupe.
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