Smart Windows Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Smart windows are technologically advanced windows that allow for automatic tinting or adjustment of light transmission properties in response to environmental conditions or user preferences. These windows contribute to sustainable building practices and improve occupant comfort and productivity by optimizing energy usage.

Sizing and Forecast
The smart windows market size has grown rapidly in recent years. It will grow from $5.24 billion in 2023 to $5.83 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to Rising regulatory initiatives promoting energy efficiency in buildings, growing awareness of environmental sustainability, rising energy costs, increase in focus on enhancing occupant comfort and satisfaction in residential, commercial, and institutional buildings, rise in urbanization and infrastructure development.

The smart windows market size is expected to see rapid growth in the next few years. It will grow to $8.97 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to Increasing demand for smart homes and smart buildings equipped with connected devices and automation systems, growing focus on health and well-being in building design, rise in government incentives and regulations promoting energy efficiency and sustainability in buildings, the rise of smart cities and sustainable urban development initiatives, increasing awareness of indoor air quality (IAQ). Major trends in the forecast period include advancements in the Internet of Things (IoT) and building automation technologies, the integration of artificial intelligence (AI) technologies for predictive and adaptive control, the integration of smart windows with broader smart home ecosystems, and the and the development of enhanced user interfaces and control options.

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

1) By Type: Organic Light-Emitting Diode (OLED) Glass, Self-Dimming Window, Self-Repairing Windows
2) By Technology: Suspended Particle Devices Light Modulator, Polymer Dispersed Liquid Crystal Devices Scanner, Electrochromic
3) By Application: Residential, Industrial, Commercial, Transport

North America was the largest region in the smart windows market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the smart windows 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
A rise in demand for smart home solutions is expected to propel the growth of the smart window market going forward. Smart home solutions refer to a range of technologies and systems that integrate various devices and appliances within a home to enhance convenience, comfort, security, energy efficiency, and automation. The demand for smart home solutions is rising due to consumers’ desire for convenience, energy efficiency, and enhanced security. Smart windows strengthen the functionality of smart homes by regulating natural light and privacy levels, optimizing energy usage, and improving overall comfort and convenience for residents. For instance, in November 2022, according to a report published by techUK, a UK-based membership association for the tech industry, 77% of UK adults will own at least one connected home device, up from 67% pre-pandemic, marking a 1% increase since 2021. Moreover, the proportion of ‘advanced adopters,’ owning over three connected home devices, has risen to 26% in 2022 from 24% in 2021. Therefore, a rise in demand for smart home solutions drives the smart window market.

Key Industry Players
Major companies operating in the smart windows market are Saint-Gobain S.A., AGC Inc., Gentex Corporation, Pilkington Group Limited, Hitachi Chemical Co. Ltd., View Inc., Gauzy Ltd., Halio International, SAGE Electrochromics, Kinestral Technologies Inc., Polytron Technologies Inc., Smartglass International Ltd, Heliotrope Technologies Inc., ChromoGenics AB, GlasNovations Ltd., Innovative Glass Corporation, Raven Windows Inc., Smart Windows Colorado, SPD Control Systems Corporation, Stellaris Corporation, Scienstry Inc. , Smart Tint Inc., Citala Ltd., Pleotint LLC, Research Frontiers Inc.

The smart windows market report table of contents includes:

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

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