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The smart windows market size is estimated to grow by USD 3.80 billion at a CAGR of 12.74% between 2023 and 2028. Smart windows, driven by the rise of smart homes, offer enhanced convenience and energy efficiency. According to a US Department of Energy report, windows contribute up to 10% of home energy consumption, but smart windows can significantly reduce this figure. Utilizing technologies like electrochromic and thermochromic materials, they regulate sunlight and heat, cutting energy costs by up to 20%. With remote control capabilities via mobile devices or voice assistants, smart windows cater to the needs of elderly or disabled individuals. Factors such as urbanization, increasing energy prices, and government initiatives promoting energy efficiency further propel their adoption, contributing to the growth of the market in the forecast period. For instance, in the Union Budget 2021, the Indian government allocated USD 1.89 billion to initiatives like Housing for All and Smart Cities Mission, driving the development of smart homes and cities.
One of the key factors driving the market growth is the rising construction of residential houses and buildings. The rapid rate of urbanization in recent decades has led to a quickened pace in the development and construction of skyscrapers and high-rise structures worldwide, especially in developing economies across the world. In addition, growing urbanization and rising disposable income are increasing the demand for new residential dwellings.
Moreover, new housing projects are expected to get a boost around the world, with most of this construction development occurring in APAC and MEA. In addition, single-family housing projects will continue to account for a major share of new residential units. As a result, this will generate interest in establishing new residential projects. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market growth during the forecast period.
A key factor shaping the market growth is the advancements in construction technology. There is significant growth in the market as a result of developments in construction technology. In addition, the demand for these products is rising across a variety of industries as a result of the easier and more affordable installation.
Moreover, in comparison to conventional installation techniques, the cost of installing smart windows has decreased by up to 30%, according to a report by the National Institute of Building Sciences. In addition, new installation methods that make it possible to install windows more quickly and effectively are one of the factors influencing this trend. Furthermore, in comparison to conventional installation techniques, these systems also provide greater accuracy and consistency. Hence, such factors are driving the market growth during the forecast period.
The availability of substitutes for smart windows is one of the key challenges hindering the market growth. Several low-cost substitutes are also available. For example, passive tint glass is a potential substitute for dimmable glass. In addition, passive tint glass can change the opacity or transparency of the glass depending on the temperature and intensity of light.
Moreover, sandblasting is another alternative that provides a classic frosted appearance, which is suitable in office and corporate settings. In addition, window vinyl is another suitable alternative in offices or homes. Furthermore, the easy availability of these inexpensive substitutes, coupled with the high cost, hampers the growth of the market. Hence, such a challenge is expected to negatively impact the demand for smart windows, hence hindering its growth during the forecast period.
The OLED glass segment is estimated to witness significant growth during the forecast period. OLED refers to glass that produces light when an electric current is applied. In addition, windows use OLED glass to regulate the amount of light and heat entering a structure. Furthermore, it allows for greater control over the amount of natural light that enters a room by allowing for various transparency and opacity levels.
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The OLED glass segment was the largest segment and was valued at USD 2.56 billion in 2018. Moreover, due to its attractiveness and energy efficiency, the OLED glass-type segment is anticipated to expand significantly over the forecast period. OLED glass is also thin, flexible, and versatile in terms of size and shape. In addition, this makes it an ideal material for use in smart windows, which are becoming more and more common in both residential and commercial structures. Furthermore, the increasing emphasis on sustainable and green building techniques also contributes to the demand for OLED glass. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
Based on application, the market has been segmented into transportation, commercial and industrial, and residential. The transportation segment will account for the largest share of this segmentThe R&D activities in the transportation segment are focused on enhancing passenger comfort and safety. In addition, due to growing consumer preference, automotive OEMs are increasingly adopting advanced features for passenger safety and comfort. Moreover, several other technologies, such as self-dimming glass and heated windshields, are being incorporated into vehicles for enhanced passenger comfort. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
North America is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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There is an increase in technological adoption in the automotive industry across North America. Factors such as the increasing per capita income, coupled with the high living standards of people, have fueled the adoption of advanced technologies in automobiles. In addition, increasing consumer awareness is fueling the demand for advanced safety and comfort in automobiles. Moreover, this has boosted the adoption of sunroofs, moonroofs, and other advanced solutions, such as smart glass. Furthermore, the demand for luxury and premium vehicles is significantly growing in Canada and Mexico. In addition, due to the growing demand for technologically advanced vehicles among consumers, automotive OEMs are voluntarily adopting advanced solutions. Hence, such factors are driving the demand in North America during the forecast period.
Companies are implementing various 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.
Asahi India Glass Ltd: The company offers smart windows with AIS Swytchglas.
The market growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Ambilight Inc,ClearVue Technologies Ltd., Compagnie de Saint Gobain, Crystal Pacific Window and Door Systems, Diamond Glass, Gauzy Ltd., Gentex Corp., Halio Inc., Innovative Glass Corp., Nodis, Polytronix Inc., PPG Industries Inc., RavenWindow, Smart Glass India, Smart Window, Smart Windows Colorado, SmartGlass International, Stellaris Corp., and View Inc
Qualitative and quantitative analysis 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; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The smart windows market is driven by dynamic glazing technologies, such as electrochromic and thermochromic materials, offering building automation and solar heat gain management. These solutions enable daylight harvesting and privacy control while optimizing light transmission. Features like self-tinting windows and IoT integration cater to user preferences and climate adaptation needs. With retrofitting options and sustainable architecture in focus, transparent conductor films and innovative coatings enhance energy conservation. Wireless connectivity and environmental sensing facilitate adaptive shading and smart home integration, elevating the user experience. From building renovation to facade design, smart windows play a crucial role in automated control systems, revolutionizing glass manufacturing and insulated glazing units for a more efficient and sustainable built environment.
The market research and growth report covers market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 - 2028.
Smart Windows Market Scope |
|
Market Report Coverage |
Details |
Page number |
165 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.74% |
Market Growth 2024-2028 |
USD 3.80 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
12.04 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 46% |
Key countries |
US, Canada, China, Japan, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ambilight Inc., Asahi India Glass Ltd., ClearVue Technologies Ltd., Compagnie de Saint Gobain, Crystal Pacific Window and Door Systems, Diamond Glass, Gauzy Ltd., Gentex Corp., Halio Inc., Innovative Glass Corp., Nodis, Polytronix Inc., PPG Industries Inc., RavenWindow, Smart Glass India, Smart Window, Smart Windows Colorado, SmartGlass International, Stellaris Corp., and View Inc |
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 market growth and forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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