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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. The market's growth is influenced by several key factors. Firstly, there's a surge in residential construction activities, contributing significantly to market expansion. Secondly, the increasing popularity of smart homes drives demand for related technologies and products, fostering the market. Additionally, the automotive industry's adoption of it further propels the market forward, showcasing a trend toward advanced and interconnected systems. These factors collectively indicate a shift towards innovative solutions across various sectors, highlighting the market's responsiveness to evolving consumer preferences and technological advancements. This dynamic landscape underscores the importance of adaptability and innovation in driving sustained growth within the industry.
The Market encompasses advanced glass products with exceptional light transmission properties, integrating electricity and light for various applications. These climate-adaptive solutions offer translucent and transparent options, controlling light wavelengths to suit building needs. The market caters to diverse sectors, including Business Buildings, Residential Buildings, Commercial Buildings, and Personal Property Buildings. Motorized light screens, blinds, and curtains are integral components, providing energy-saving heating, lateral lighting, and air conditioning solutions. The Automobile sector also benefits from this technology, enhancing comfort and reducing energy costs. The Construction sector leverages smart windows for heat and cooling, blackout smart glass, and low-emissivity coatings to mitigate UV rays. Dynamic glare control and light control are essential features, ensuring optimal indoor climate while reducing reliance on artificial lighting.
One of the key factors driving the market growth is the rising construction of residential houses and buildings. The global residential building and construction industry is experiencing growth due to urbanization and rising disposable income. APAC and MEA are expected to lead this development. Single-family housing projects will dominate new residential units. The declining household size and interest in urban living will drive demand. Advancements in display technology, such as OLED glass and self-dimming windows, are key trends.
Moreover, thinner, lightweight panels and stable performance are desirable. Self-repairing and UV radiation protection are important features. They are used in various sectors, including transport (trains, passenger vehicles), commercial (office buildings, hospitals, schools, IT parks, showrooms, malls), and industrial (warehouses, storage houses). Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market during the forecast period.
A key factor shaping the market growth is the advancements in construction technology. The global market experiences intense competition and rapid technology advancements, leading companies to form strategic alliances. This trend is driven by the growing demand for large-area displays in the construction industry, particularly glass curtain walls. companies seek to expand their market reach and customer base through partnerships. Key technologies in the market include self-dimming windows, OLED glass, and backlighting.
Moreover, thinner display panels and lightweight materials are also prioritized for improved performance and energy efficiency. The market encompasses various sectors such as transportation, commercial and residential buildings, and IT parks. Key players include those specializing in adhesive-backed smart film, LCD systems, and self-repairing windows. Hence, such factors are driving the market during the forecast period.
The availability of substitutes for smart windows is one of the key challenges hindering the market. The market faces challenges due to technical limitations. Durability concerns and material constraints, such as those with adhesive-backed smart films, hinder their reliability and performance. The need for advanced control systems, like those used in large-area displays and automotive technology, adds complexity. OLED glass and self-dimming windows require stable performance against sunlight and UV radiation.
Moreover, thinner display panels and lightweight designs, using technologies like LCD systems and self-repairing materials, are desirable. The transport sector, including commercial vehicles, trains, and passenger vehicles, as well as buildings like warehouses, offices, hospitals, schools, IT parks, showrooms, malls, and more, can benefit from smart windows. Hence, such a challenge is expected to negatively impact the demand, hence hindering its growth during the forecast period.
The OLED glass segment is estimated to witness significant growth during the forecast period. The OLED segment of the market has experienced notable growth in the past decade. OLED glass, a type of transparent and versatile material, emits light upon application of an electric current. They utilize OLED glass for controlling light and heat entry, offering adjustable transparency levels. The market's expansion is driven by its energy efficiency, attractiveness, and long-term benefits. Partnership announcements in the transportation and aerospace sectors are expected to boost usage.
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The OLED glass segment was the largest segment and was valued at USD 2.56 billion in 2018. Moreover, market growth may be restrained by the lack of awareness and high costs. Advanced materials, such as electrochromic ones, enable vibrant applicability in various sectors, including automotive and domestic use. These materials operate based on the scientific principle of electrochromism, with voltage application causing the glass to transition between transparent and dark, bluish colors. Usage in conference rooms, intensive-care areas, and bathrooms offers operational and cost efficiency. 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 segment In the automotive industry, research and development are prioritized towards enhancing passenger comfort and safety. The market for smart windows is gaining traction, driven by the innovation of advanced technologies such as adhesive-backed smart film and OLED glass. Self-dimming windows, a key application, adjust transparency based on sunlight and heat for optimal comfort. Other features, like self-repairing and backlighting, contribute to stable performance. Large-area displays and thinner, lightweight panels are also being integrated, benefiting both commercial and passenger vehicles. 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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The market in North America is experiencing growth due to partnership announcements in the transportation and aerospace sectors. Increasing income levels and the desire for luxury and premium vehicles are driving the demand for advanced technologies, including smart glass. However, market restraints such as lack of awareness and high costs are being addressed through extensive marketing endeavors and the use of advanced materials like electrochromic materials. These materials, based on the scientific principle of electrochromism, can change from transparent to dark or bluish color with the application of electrical voltage.
Moreover, the long-term benefits of energy efficiency, operational efficiency, and privacy control in various sectors, such as automotive, domestic, and commercial, are recognized. Applications include air conditioning systems, conference rooms, intensive-care areas, and bathrooms. The decreasing price of electrochromic materials is making these advanced solutions more vibrantly applicable. Usage of polymer-dispersed liquid crystals and translucent electrochromic windows are also gaining popularity for their cost efficiency and privacy control features. 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 market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Smart Glasses Market: Global Smart Glasses Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, China, France, UK, Germany - Size and Forecast
Electrochromic Storage Devices Market: Electrochromic Storage Devices Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, Canada, China, Germany, UK - Size and Forecast
Smart Glasses Market: Global Smart Glasses Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, China, France, UK, Germany - Size and Forecast
An Overview Smart windows are a type of advanced glazing system that integrates solar control, daylighting, and ventilation functions. These windows use various technologies such as electrochromic, thermochromic, and photochromic to adjust the transparency and shading according to external conditions. The market is witnessing significant growth due to increasing energy efficiency concerns and the need for sustainable buildings. The market is driven by factors such as stringent energy regulations, rising awareness of energy conservation, and technological advancements in smart window materials and manufacturing processes. Smart windows offer numerous benefits, including energy savings, improved indoor comfort, and enhanced security.
Furthermore, they can help reduce heating and cooling loads, thereby lowering energy consumption and costs. Additionally, they provide better control over natural light and temperature, creating a more comfortable and productive indoor environment. The market for smart windows is expected to grow at a steady pace in the coming years, with key applications in commercial and residential buildings. The increasing adoption of smart buildings and the growing trend towards sustainable and energy-efficient construction are expected to fuel the demand for smart windows. In conclusion, the market is poised for growth due to its energy-saving capabilities, comfort benefits, and technological advancements. The market is driven by factors such as energy regulations, awareness of energy conservation, and the need for sustainable buildings. Smart windows offer a promising solution for reducing energy consumption and costs while improving indoor comfort and security.
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 forecast, 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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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