Global Smart Glass Market to Grow at a CAGR of 16.2% over the Forecast Period of 2024-2032

The global smart glass market is being driven by the rising demand for smart glasses in the construction sector and transportation industries. The North America is the leading market in the industry owing to the rising demand for smart glasses from the thriving construction sector in the region. The rise in demand can be attributed to factors like enhanced aesthetic qualities as well as advanced characteristics of smart glass over the traditional glass. Further, the Asia Pacific is expected to witness the fastest growth rate over the forecast period due to rapid urbanisation and increased infrastructure development activities in the region. The growing green building projects across the globe, aimed at encouraging smart energy-saving solutions like smart glasses, is expected to further aid the industry growth in the forecast period.

As new mobility models and the autonomous age emerge, the manufacturers are constantly innovating their products. In January 2020, Gentex Corporation (NASDAQ: GNTX) showcased the latest in dimmable glass systems, connected car features, and digital vision technologies at CES® 2020 ready for automaker implementation. Gentex, being one of the leading suppliers of electro-optical products for the global automotive industry, aims to develop scalable technology paths through automotive features and expand its global reach. Further, the growing demand for vehicles among consumers is resulting in increased demand for smart glasses. Leading automotive manufacturers, such as BMW (OTCMKTS: BMWYY) and Daimler AG (ETR: DAI), commonly known as Mercedes, are making use of smart glass and are installing the same in its different variants. Mercedes-Benz has used SPD-SmartGlass technology in its S-Class Coupe, as well as other variants of the S-Class, fulfilling consumer demand for the popular Magic Sky Control panoramic roof. SPD-SmartGlass has been adopted by the manufacturers as it offers remarkable heat reduction inside the vehicle, UV protection, glare control, and noise reduction. Such developments are expected to aid the growth of the smart glass market globally in the forecast period.

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Market Breakup by Technology, Application, and Region:

• By technology, the global smart glass industry can be divided into electrochromic (EC), polymer dispersed liquid crystal (PDLC), suspended particles devices (SPD), thermochromic, and photochromic.

• On the basis of applications, the industry is categorised into construction, transportation, electronics, and power generation. 

• Region-wise, the global smart glass market can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global smart glass market is being driven by the growth in the number of green building projects and the increasing construction activities across the globe.

• The thriving automotive sector is providing a further impetus to the industry.

• Rising disposable incomes, coupled with increasing demand for premium quality products, particularly in the emerging economies, is boosting the industry growth. 

• The growing focus of manufacturers to launch products with enhanced characteristics is aiding the industry further.

Key Offerings of the Report:

• The EMR report gives an overview of the global smart glass market for the periods (2018-2023) and (2024-2032). 

• The report offers historical (2018-2023) and forecast (2024-2032) market information for the technology, applications, and regional markets for the global smart glass market.

• It also provides an assessment of the industry based on the Porter’s Five Forces model, along with offering a SWOT analysis of the market.

The major players in the global smart glass market are AGC Inc., Compagnie de Saint-Gobain S.A., Corning Incorporated, Gentex Corporation, Polytronix, Inc., and Guardian Industries Holdings, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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