Smart glass, also known as switchable glass or electrochromic glass, is a glass or glazing whose light transmission properties are changeable. It allows transmission of light and heat to be varied, from fully clear to darkly tinted. The technology works through the use of small electric currents that alter the molecular orientation of the electrochromic materials deposited between the glass panes. Smart glass finds significant usage in the automotive sector for windshields and sunroofs.
The global smart glass market is estimated to be valued at US$ 5.84 billion in 2022and is expected to exhibit a CAGR of 10.3% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the Smart Glass market DigiLens Inc, Corning Incorporated, OPPO, Meta and Agc Inc.
The Smart Glass Market Demand from the automotive sector is expected to drive the market growth during the forecast period. Rising adoption of smart glass in sunroofs, windshields, and other automotive applications is majorly fueling the market. According to recent studies, over 60% of passenger vehicles are expected to have smart glass installed by 2028.
Technological advancements have allowed infusion of intelligence in glass which is expanding its usage in new sectors beyond buildings and automobiles. Integration of IoT connectivity is enabling remote operation of smart glass panels. Additionally, development of power-efficient switching technologies is increasing applications in residential and commercial sectors.
Market Trends
The increasing focus on energy efficiency in buildings is a key market trend. Smart glass helps in reducing energy consumption by automatically adjusting the tint and transparency based on the weather conditions outdoors. Growing need for energy efficient buildings will propel the adoption of smart glass.
Integration of artificial intelligence is another major trend witnessed in the market. AI-powered smart glass enables advanced functionalities like facial recognition, occupancy sensing, and gesture controls. This further enhances user experience and opens up new application areas.
Market Opportunities
The growing smart homes and smart cities initiatives across regions present promising opportunities. Implementation of smart glass solutions can help achieve sustainability goals of these projects.
Rising demand from the aviation sector also offers opportunities. Smart glass is gaining acceptance on aircraft windows for purposes like dimming glare and improving visibility during take-off and landing. This will drive innovations catering specifically to aerospace applications.
Impact of Covid-19 on the Smart Glass Market and Recovery Trends
The Covid-19 pandemic has significantly impacted the smart glass market. In the initial lockdown phases, manufacturing facilities and consumer spending came to a grinding halt. This led to a decline in demand for smart glass applications across automotive, aerospace, construction, and other end use industries. With travel and commute restrictions in place, the automotive sector saw weak sales which negatively impacted the automotive smart glass market.
As lockdowns eased, the market is witnessing a gradual recovery. However, supply chain disruptions continue to pose challenges. Rising health safety concerns are driving demand for touchless access and improved indoor air quality which is boosting prospects for electrochromic and thermochromic smart glass technologies. The work from home model adopted by many organizations has increased focus on design and performance of buildings. This is expected to support growth of the construction smart glass market in the coming years.
Regional Dynamics and Growth Prospects of the Smart Glass Market
The smart glass market in North America currently holds the largest share in terms of value, aided by high consumer spending and significant investments in construction and automotive sectors. Major market players based in the US and copyright are undertaking intensive R&D to develop newer and more sustainable products. The Asia Pacific region is poised to become the fastest growing market during the forecast period. This can be attributed to rising construction activities, growth of the automotive industry and supportive government policies promoting green building concepts in countries like China and India.
The European smart glass market is predominantly driven by Germany, France and the UK. stringent eco-friendly building codes and energy efficient guidelines in these countries are propelling demand from the construction industry. Government initiatives promoting green transportation are also fueling uptake of smart glass solutions in the automotive and mass transit segments. Considering the ongoing pandemic, market players must focus on strengthening supply chains, developing affordable products and expanding online sales channels to counter future disruptions. Collaboration with OEMs and building contractors will be crucial for sustained growth in the post covid era.
Explore additional details from the source:
Smart Glass is transforming Industries is in trends by rising adoption across architectural and transportation sectors
Smart Glass is Estimated to Witness High Growth Owing to Rising Demand for Energy Efficient Solutions
Smart Glass is Estimated to Witness High Growth Owing to Rapid Advances in Smart Glass Technology
Smart Glass is anticipated to Witness High Growth Owing to Increasing Demand for Energy Efficient Buildings
スマートガラス市場
스마트 글래스 시장
About Author:
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.
(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)