Smart Glass Market Report 2024: Market Size, CAGR, Lucrative Segments And Top Regions

Overview and Scope
Smart glass refers to a type of glass that can change its properties, such as tint, opacity, or color, in response to external stimuli such as heat, light, or electricity. It is based on cutting-edge technology that integrates advanced materials to create windows and surfaces capable of altering their properties in response to external conditions or user commands.

Sizing and Forecast
The smart glass market size has grown rapidly in recent years. It will grow from $6.71 billion in 2023 to $7.57 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%.  The growth in the historic period can be attributed to rapid technological advancements, focus on energy efficiency, adoption in the construction sector, advancements in IoT integration, demand in the automotive industry.

The smart glass market size is expected to see rapid growth in the next few years. It will grow to $11.51 billion in 2028 at a compound annual growth rate (CAGR) of 11%.  The growth in the forecast period can be attributed to advancements in smart glass technologies, awareness of energy efficiency, integration with iot and smart technologies, technological advancements, government regulations and initiatives. Major trends in the forecast period include technological advancements, focus on energy efficiency, integration with IoT and smart home systems, expanding application scope.

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Segmentation & Regional Insights
The smart glass market covered in this report is segmented –

1) By Type: Electrochromic, Suspended Particle Device (SPD), Liquid Crystal, Passive, Other Types
2) By Control System: Manual, Remote, Mobile-based, Voice-based, Other Control Systems
3) By End User: Transportation, Construction, Power Generation, Other End Users

Europe was the largest region in the smart glass market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the smart glass market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The growing construction industry is expected to propel the growth of the smart glass market going forward. The construction industry encompasses all activities related to the planning, designing, building, and maintenance of structures and infrastructure. The construction industry is growing due to population growth, urbanization, economic development, infrastructure projects, technological advancements, and a focus on sustainability. Smart glass can contribute to creating more sustainable, comfortable, and technologically advanced buildings, making it an attractive option for the construction industry. For instance, according to the U.S. Census Bureau, a US-based government agency, the total construction spending in 2022 was $1,840.9 billion, while in 2023, it increased to $1,978.7 billion, marking a 7.0% rise. Therefore, the growing construction industry is driving the smart glass market.

Key Industry Players
Major companies operating in the smart glass market are Huawei Technologies Co. Ltd., Hitachi Chemical Co. Ltd., General Electric Company, Compagnie de Saint-Gobain S.A., Honeywell International Inc., Ericsson, Merck Group, PPG Industries Inc., AGC Inc., Polytronix Inc., ADT Inc., VELUX Group., Gentex Corporation, Switch Materials Inc., AGP eGlass, Kore Wireless Group, View Inc., Intevac Inc., Kinestral Technologies Inc., Quantum Glass GmbH, SAGE Electrochromics Inc., Soladigm Inc., Gauzy Ltd., Eyrise B.V., Halio Inc., 100Plus Inc., Heliotrope Technologies Inc., Pleotint LLC

The smart glass market report table of contents includes:

1. Executive Summary
2. Smart Glass Market Characteristics
3. Smart Glass Market Trends And Strategies
4. Smart Glass Market – Macro Economic Scenario
5. Global Smart Glass Market Size and Growth
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32. Global Smart Glass Market Competitive Benchmarking
33. Global Smart Glass Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Smart Glass Market
35. Smart Glass Market Future Outlook and Potential Analysis
36. Appendix

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