Global Smart Window Market Report and Forecast 2024-2032

Global Smart Window Market Size

The global smart window market is expected to grow at a CAGR of more than 16.8% in the forecast period of 2024 and 2032.

Smart Window Market Outlook

• According to Green Business Certification Inc., GBCI, in 2023, Mainland China is expected to dominate the world in LEED—Leadership in Energy and Environmental Design—with a whopping 1,563 projects, totaling more than 264 million square feet.

• This no doubt reflects the fact that China has been very aggressive in pushing for sustainable development and green building practices.

• The second country is Canada with 280 LEED-certified projects totaling about 85 million square feet, propelling the growth of smart window market.

• India comes next with 248 LEED projects totaling about 78 million square feet.

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Smart Window Market Growth

Smart windows refer to next-generation windows that control the amount of light entering a room, based on weather conditions and user preferences. Different materials, like micro-blinds, liquid crystals as well as suspended particles, are currently used in the development of these screens. Similar to other solutions such as electric window shades, smart windows are considered more effective in energy management. Owing to these qualities, they are gaining popularity for use in houses, commercial spaces, and automobiles and thus boosting the smart window demand globally.

The opacity of smart windows could be changed from clear to translucent, which helps increase the comfort of the occupants, guarantees the best lighting conditions as well as increases the building's energy quality by reducing glare, lighting loads, and HVAC energy usage. The technology sector is being led by the suspended particle devices light modulator segment, whereas the self-dimming smart windows are the leading type in the industry. North America is the leading region for the market. The application sector is dominated by the transport segment.

Key Trends and Recent Developments

Smart home systems, energy-efficient solutions, and technological advancements towards automation are a few factors opening up new smart window market dynamics and trends.

February 2024

Marvin CT introduced its new line of products called Marvin Connected Home, a unit that embodies a line of programmable, voice- and app-activated, skylights, windows, and doors. The sensor technology in the product can even stop a window or door from closing in the event of someone passing through an opening or having a hand outside.

Smart home systems

A rising trend of the smart window market is smart windows integrated with home systems. Advanced smart windows have now been connected to the home automation platform that enables control of elements such as tinting, lighting, and energy efficiency through applications used on smartphones and issuing voice commands to enhance ease of use and energy management.

Energy efficiency

More attention is paid to energy efficiency and sustainability. Smart windows act like a window tinting system about the sun's intensity at any given time, allowing them to decrease both heating and cooling through the reflection of a part of the rays of the sun, hence using up less energy and decreasing the carbon footprint of buildings.

Technological innovations

The technological advancements in the market are creating ways for growth as innovation in electrochromic and photochromic technologies is allowing windows to change properties dynamically with the surrounding environment, enhancing comfort, privacy, and protection from UV rays, while improving overall functionality and opening up new smart window market opportunities.

Smart Window Market Trends

Smart windows are combined with lighting and air conditioning control systems to ensure greater thermal and visual comfort for occupants and to achieve substantial energy savings. In addition, the incorporation of smart windows with the Internet of Things (IoT) has helped to boost device management and configuration capabilities. These are some of the factors that drive the smart window industry growth at the global level. In addition, due to increased R&D activities, manufacturers are developing smart windows with electrochromic technology that allow building owners and operators to save energy and reduce cooling, heating, and lighting costs. Likewise, products are being produced using perovskites that turn dark at high temperatures and can produce solar energy like PV cells. These factors are propelling the overall growth of the smart window market.

Industry Outlook

The rapid evolution in sustainable construction practices supports increased demand for smart windows.

A key trend in the smart window market is the incorporation of smart windows can tremendously enhance the Leadership in Energy and Environmental Design score. Turkey has 36 projects for over 31 million square feet and Brazil with 119 projects covering approximately 28 million square feet, showing key activity in green building. Saudi Arabia, at sixth place, had 57 projects totaling over 23 million square feet, underlining the growing dedication of this Middle Eastern country to sustainability as it steers ahead with its Vision 2030 initiative. With 169 and 135 projects respectively—each accounting for more than 21 million square feet of space certified by the LEED—the commitment to sustainability by European countries is further underscored by Spain and Italy. Finally, South Korea ranked ninth, representing 67 LEED-certified projects covering more than 20 million square feet. Mexico rounds out the top ten, with 86 projects totaling more than 17 million square feet. Mexican national policies promote energy efficiency and sustainability in building practices and provide support for efforts toward sustainable construction and thereby pushing the smart window demand growth.

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Smart Window Industry Segmentation

“Global Smart Window Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Based on technology, the smart window market can be divided into the following:

• Suspended Particle Devices Light Modulator

• Polymer Dispersed Liquid Crystal Devices Scanner

• Electro Chromic

On the basis of type, the industry can be segmented into:

• OLED Glass

• Self-Dimming Window

• Self-Repairing

It finds application in the following industries:

• Residential

• Commercial

• Industrial

• Transport

Market Breakup by Region:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Smart Window Market Share

OLED Glass To Gain Traction For Its Architectural And Automotive Application

The OLED glass segment is projected to have huge growth owing to enhanced features and increasing applications. OLED glass in both architectural and automotive sectors has emerged as a workable solution, which provides display quality with high resolution and brilliant colors. It also offers transparent display and dynamic lighting effects for smart windows and innovative interior designs. As per smart window market analysis, it is envisioned that, driven by the increasing demand for slim and high-performance display solutions, more market share could be garnered in the near future with OLED glass, which comes endowed not only with state-of-the-art technology but also with esthetic benefits.

Integration of technology helps in the demand for energy-efficient smart windows.

• Smart windows help save a lot of energy by controlling the amount of light and heat that passes through the windows. This helps reduce artificial lighting and air conditioning needs.

• Continual improvement in smart glass technologies, such as electrochromic, photochromic, and thermochromic, enhances product performance and functionality.

• Smart windows contribute to sustainability through a reduction in carbon emissions and the promotion of green building practices that help set an appeal among eco-friendly consumers.

• The ability to adjust transparency levels improves indoor comfort and privacy, making smart windows attractive for residential, commercial, and automotive applications, positively impacting the demand of smart window market.

High Cost and Complex Installation can Restrict Smart Window Adoption.

• The upfront cost of their installation is considerably higher than regular windows, thereby impeding the growth of this market.

• Installing smart windows requires specialized knowledge and skills, thereby increasing their installation time and costs.

• Consumers in general would become less confident about the product due to various long-term durability and performance issues, such as possible degradation of smart coatings or components, eventually hampering the smart window market revenue.

• Economic downturns can result in reduced consumer spending on non-essential home improvement and commercial construction projects, hence cutting down smart window sales.

• The presence of alternative energy-saving solutions, like smart blinds and traditional energy-efficient windows, would limit the market penetration for smart windows.

• Dealing with regional variations of building materials and energy efficiency standards can be cumbersome for any manufacturer.

Rising Demand for Green Building Can Increase the Demand for Smart Windows.

• Rising emphasis on energy-efficient and sustainable building and construction practices creates tremendous prospects for smart windows in new constructions as well as retrofits.

• Thermally activated shading: innovative solutions from research.

• This will further push the growth of the smart window market driven by government policies and incentives on energy efficiency and sustainable construction, which will provide an evident drive for smart windows.

• Growth in emerging markets, in particular, in the Asia-Pacific and Latin American regions, is witnessing huge growth potential due to increasing urbanization and rising disposable incomes.

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Smart Window Market Regional Analysis

Advanced Technological Demand In North America To Propel The Demand

The demand for smart windows in North America is likely to grow during the forecast period due to a well-developed technological infrastructure and a keen focus on energy efficiency and sustainability. Huge investments are being witnessed in smart building technologies and green construction practices in the United States and Canada, thus propelling the adoption of smart windows. Apart from that, an increasing interest among North American consumers and businesses for innovative solutions in enhancing comfort and reducing energy consumption expenditure exists. Additional factors that fuel the smart window industry in North America are government incentives and regulations relating to energy-efficient technologies.

Competitive Landscape

Key players in the smart window market are investing heavily in R&D for the development of OLED and electrochromic glass, broadening their product lines, and entering into strategic collaborations to foster innovation and market growth.

Heliotrope Technologies, a 2005-formed, Austin, Texas-based company specializing in advanced smart window technologies, with a focus on electrochromic glass. Their smart windows allow the transparency to change dynamically depending on light conditions, improving comfort indoors and energy efficiency. These are used both commercially and residentially, promoting sustainable building practices through innovative shading solutions.

Gentex Corporation, founded in 1974 and located in Zeeland, Michigan, is a leading manufacturer of electrochromic dimmable windows. Gentex caters to the automotive and architectural markets by providing smart glass products whose tint levels self-adjust based on the light passing through them. This technology makes for increased comfort by reducing glare and increasing energy efficiency in both vehicles and buildings.

Saint-Gobain, a 1665-established company with its headquarters in Paris, France, deals in various smart window solutions through electrochromic and photochromic glasses. The products offered are developed to be applied architecturally and in automotive industries, seeking energy efficiency, comfort, and aesthetic appeal. Innovations by Saint-Gobain seek the integration of smart glass technology into modern building designs and advanced vehicle systems.

Other key players profiles in the smart window market report are Smart Windows Colorado, Pleotint LLC., and ChromoGenics, among others.

Competitive Factors in the Global Smart Window Market

• Nonstop technological improvements in the performance of smart window technologies, like electrochromic, photochromic, and thermochromic systems.

• Those companies that will be able to rationalize production processes and achieve economies of scale to reduce costs without compromising on quality will enjoy more customers.

• Quality control and warranties achieved by companies will enhance standards and ensure brand reliability.

• The competitive edge needed in market differentiation is for companies that can prove to potential buyers that it makes substantial energy savings and quick paybacks.

• To boost the smart window industry revenue, companies are integrating themselves with popular smart home platforms to attract tech-savvy consumers and businesses.

• Companies integrating green materials and processes in the making of smart windows make them more palatable to the green consumers and, therefore, comply with green building standards.

• Those companies that are ahead in tracking changes in the regulatory environment and bringing about compliance with regional standards can avoid legal complications and expand their market reach.

• Companies with excellence in customer service can build relations and repeat business.

Key Indicators for Demand in the Global Smart Window Market

• Governments are coming up with policies that involve reduction in energy consumption of buildings, thus raising demand for energy-saving technologies like smart windows.

• Rising energy costs will increasingly drive consumers and businesses to incorporate energy-efficient technologies, of which includes smart windows.

• The degree of competition among the manufacturers is what drives producers' pricing strategies. When it is high, prices are likely lower as companies seek more significant market share.

• Increasing green building initiatives and certifications, such as LEED, will spur demand for smart windows.

Global Smart Window Market: Key Indicators of Price

The smart window market value can be affected by a lot of price-related factors. In smart windows, price fluctuations for these materials may dictate the pricing to a large extent, which may be attributed to supply chain disruptions or alterations in demand. In cases where labor is more expensive in certain regions, this will be factored into the product price. The level of customization and value-added features integrated into the product determine the final selling price. Broader economic conditions, such as inflation rates, interest rates, and general economic stability, can also bear on smart window.

Key Highlights of the Report

Smart Window Market Report Snapshots

Smart Window Market Size

Smart Window Market Growth

Smart Window Market Trends

Smart Window Market Share

Smart Window Companies

Smart Window Market Regional Analysis