Overview
The Smart Glass Market is expected to reach USD 9083.7 Million by 2025 at a CAGR of 17.8% during the forecast period. Market Research Future (MRFR), in its report, envelops segmentations and drivers to provide a better glimpse of the market in the coming years. The smart glass technology can increase the functionality of glass by reducing noise and temperature of surroundings. Among all the sectors and industries served by smart glass manufacturers, suspended particle device (SPD) glass has registered the highest rate of adoption. The major objective fulfilled by SPD smart glass technology is to provide a cost-effective and eco-friendly glass installation solution to the end-users. Smart glass is being rapidly adopted across major economies.
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Competitive Analysis
The Key Players of Global Smart Glass Market are Saint-Gobain Group (France), Ravenwindow (Ravenbrick LLC) (US), PPG Industries, Inc. (US), LTI Smart Glass, Inc. (US), Kinestral Technologies, Inc. (US), Gentex Corporation (US), Merck KGAA (Germany), Pleotint LLC (US), E-Chromic Technologies, INC. (US), Chromogenics AB (Sweden), AGC Inc (Japan), Hitachi Chemical Co., Ltd (Japan), Nippon Sheet Glass Co., Ltd (Japan), and Innovative Glass Corporation (US), among others.
In September 2018, ChromoGenics AB signed an agreement with Regal Förvaltning AB, a hardware component manufacturer, to deliver ConverLight Dynamic Glass to Regal office in Uppsala. ChromoGenics’ dynamic glass automatically controls the heat and daylight emitted in buildings, providing increased indoor comfort.
In June 2017, Pleotint, LLC partnered with Pilkington, a manufacturer of glass and glazing products, to supply its high-performance Suntuitive dynamic glass interlayer to Pilkington for use in the Pilkington Suncool Dynamic product line.
Segmental Analysis
The Global Smart Glass Market has been segmented based on technology, application, and region.
Based on application, the market has been classified into architectural and construction, transportation, automotive, aircraft, marine, consumer goods, power generation. The architectural & construction segment accounted for the larger market share in 2018, with the highest market value. it is expected to register the higher CAGR during the forecast period. Smart glass has the property to change according to external stimuli. Smart glass used in the transportation industry includes trains, buses, airplanes among others. Smart glass windows are installed in buses for comfort and protection of passengers from external sunlight. Smart glass has vast use in the automotive industry. It includes significant heat reduction inside the vehicle up to 18ºF/10ºC, protection from ultraviolet rays, glare control, and noise reduction. Smart glass has become standard equipment on different aircraft. SPD technology has driven innovations in aircraft cabin systems using smart glass windows. In marine transit, new technology is introduced by integrating augmented reality (AR) and smart glass for navigation of ships and rectifying any engineering problems. SPD smart glass can be used for a multitude of consumer products including, sunroof, visors, mirrors, ski goggles, AR glasses, mirror glass, blackout smart glass projection screens, intelligent glass, and flat panel displays for computers. Smart glass is used for reducing power consumption in corporate offices, shopping malls, retail stores, museums, residential buildings.
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