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The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments. The report covers market trends and analysis and also includes an in-depth analysis of the growing use in aircraft, the integration with IoT, and the high cost.
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Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
AGC Inc., BASF SE, Cardinal Glass Industries Inc., Carlex Glass America LLC, ChromoGenics AB, Corning Inc., Gauzy Ltd., Gentex Corp., Halio Inc., Nippon Sheet Glass Co. Ltd., Polytronix Inc., PPG Industries Inc., RavenWindow, Research frontiers Inc, Smart Glass Technologies, LLC, SmartGlass International, The Saint Gobain Group, View Inc, and Xinology Co. Ltd.
Qualitative and quantitative analysis of market growth and trends of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, market growth and forecasting it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The growing use in aircraft is the key factor driving the market. The demand for passenger air travel is expected to remain positive by 2030, despite challenges, such as airlines' slow economic growth and fluctuating jet fuel prices faced by this industry. However, despite the difficult economic conditions, the number of passengers is expected to increase, which in turn will help the airline sector in improving its financial performance. This growth is also expected to be fueled by the growing affluence of the middle class in emerging markets, such as India.
Moreover, the use of this allows the users to manage the light and glare entering the cabin through windows in the aircraft. This will help in improving the customer experience. Furthermore, windows are a primary source of heat entering the cabin, which can make the cabin uncomfortably warm, and passengers suffer. Smart windows can control the amount the heat entering the cabin and help keep the cabin cool. Thus, such factors will propel the development of the market during the forecast period.
Integration with IoT is the primary trend shaping market expansion. The Internet of Things (IoT) is an ecosystem connecting physical objects that can be accessed through the Internet. IoT is used as a transformational force, as it helps enterprises improve product performance through IoT Security and IoT analytics for delivering better results. IoT is integrated as it provides better manageability, control, and configuring abilities for users. This is encouraging vendors in the market to launch IoT smart products to cater to the growing demand.
For instance, SmartProtect by View Inc., a physical security system, notifies building managers in case of breakage. This system will use Azure Digital Twins and Microsoft Azures IoT service to deliver breakage detection and notification. This system will be delivered as an add-on to View Inc.'s Dynamic Glass. The View Inc.'s Dynamic Glass that allows more daylight into office spaces and buildings while reducing glare. This is encouraging enterprises to use IoT-enabled, which will drive market growth during the forecast period.
The high cost is a challenge that affects market expansion. Manufacturing is a high-energy and high-temperature utilizing activity. This poses constant environmental and economic challenges for manufacturers as they have to limit energy utilization. A large amount of energy consumed in the manufacturing of can be attributed to the combustion of natural gas, which is used to heat furnaces for melting raw materials to obtain glass. The furnace is mostly operated with natural gas, which increases the cost of the production of smart glass.
In addition, some are incorporated with technologies, including Wi-Fi and environmental sensors, which help in reading the weather and managing the sunlight. The use of such high-end technologies adds to the costs. Moreover, the cost of The Saint Gobain Group s SageGlass windows is almost 200% more than that of low-end office windows with interior manual blinds. Thus, the high cost may impede market expansion during the forecast period.
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The infrastructural development segment will account for a major share of the market's growth during the forecast period.?These enable the control of the transmission of light, helping optimize the presence of natural light and reduce the need for artificial lighting. This contributes to energy savings in buildings by minimizing the reliance on electrical lighting systems during daylight hours. These glass is capable of modulating heat transmission, contributing to improved thermal efficiency. The infrastructural development segment was valued at USD 2.54 billion in 2018. Smart glass consists of properties that can change in response to external stimuli. For instance, the light transmission properties are altered when light, voltage, or heat is applied. The glass switches manually or automatically, which can be used to manage the amount of heat, glare, or light transmitted. In addition, this glass helps in the efficient utilization of energy, which encourages building managers and construction companies to use it.
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The market is segmented by technology into electrochromic, suspended particle devices, polymer dispersed liquid crystal, photochromic, and thermochromics and microblind. The electrochromic segment will account for the largest share of this segment.?
North America is estimated to contribute 32% during the forecast period.
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The North American smart glass market is poised for development, driven by a focus on energy efficiency in construction and transportation. The region's emphasis on green building practices aligns with smart glass capabilities, contributing to sustainable designs and meeting LEED certification requirements. In the automotive sector, enhances driving comfort. The rising adoption of smart home technologies and ongoing technological innovation in the region further boost the market. Partnerships, like Click Materials and Cardinal Glass Industries, facilitate expansion. Click Materials' cost-effective electrochromic technology enables accessible and customizable solutions, promoting energy savings and consumer control. Hence, such factors are expected to drive market expansion in this region during the forecast period.
The market is witnessing significant growth driven by energy-conservation initiatives and the rising demand for green buildings and eco-friendly structures. With a focus on regulatory scenarios and financial and tax benefits, the glass industry is embracing smart solutions for modern architecture and window structures, incorporating features like glazing and smart device solutions. This trend is particularly evident in multi-story buildings and sustainable building initiatives, where occupant health and well-being are prioritized alongside environmental impact considerations.
Additionally, technological advancements such as electrochromic films and anti-glare frame windows enhance energy safety perspectives and comply with environmental regulations, promoting the adoption of energy-efficient glasses. Innovations like photovoltaic cell-infused glass windows contribute to solar power generation, aligning with green building initiatives and regulations like The Green Building Tax Deduction 179D Act in the European Union.
Furthermore, in the transportation segment, smart glass finds applications in automakers and the luxury car segment, offering glare reduction and temperature and solar control features. With advancements in materials science, nanotechnology, and connectivity, the market is poised for further growth, catering to consumer demand for architecture and electronics that seamlessly blend design flexibility with solar power generation and building performance optimization.
Smart Glass Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2023 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 16.1% |
Market Growth 2024-2028 |
USD 8.70 billion |
Market structure |
Fragmented |
YoY growth (%) |
15.28 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 32% |
Key consumer countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
3M Co., AGC Inc., BASF SE, Cardinal Glass Industries Inc., Carlex Glass America LLC, ChromoGenics AB, Corning Inc., Gauzy Ltd., Gentex Corp., Halio Inc., Nippon Sheet Glass Co. Ltd., Polytronix Inc., PPG Industries Inc., RavenWindow, Research frontiers Inc, Smart Glass Technologies, LLC, SmartGlass International, The Saint Gobain Group, View Inc, and Xinology Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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