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The South Korea smart glass and smart window market is expected to grow at a CAGR of 14.5% between 2023 and 2028. The growing government support along with increased usage in the residential as well as commercial sectors are majorly driving the smart glass and smart window markets in South Korea.
Smart glass, often known as switchable glass, is a type of glass that combines modern technology to both restrict light and insulate it. Heat, electricity, and light all have an impact on the glass's ability to transmit light. Generally, this implies that the glass transitions from translucent to transparent, blocking some, all, or specific wavelengths of light. In homes, companies, and establishments like hospitals, this technology may be used to regulate light and heat, and also help in maintaining privacy. In comparison to manual solutions like blinds, curtains, shades, and doors, they provide cleaner surroundings and better and more varied degrees of control.
In 2021, LG Display provided a 55-inch OLED display for digital signage for parking lot infotainment systems, including utilisation data for "Kakao T Parking" and customer-participatory marketing. As Kakao Mobility develops COEX as a platform for smart mobility in big cities, this supply will offer a distinctive parking service experience with futuristic displays. The parking facility of COEX has approximately 40 million people visiting each year and is also the largest of any domestic architecture. Storefront windows, billboards, and train cars all use this OLED. The business is aiming for growth in a number of areas in the future, including driverless vehicles, aviation, and home interiors.
In keeping with the "Display Your Universe " theme, LG Display unveiled a number of displays and high-end technologies at CES 2022, the largest international IT and home appliance expo in the world. In this event, LG Display unveiled "OLED.EX," which advances visual quality with advanced and tailored algorithms, a "transparent flexible OLED solution," which conjures up a vision of the home of the future, "IPS Black," a high-end display technology for IT, as well as gaming OLED and a 17-inch folding OLED for laptops.
LG Display is in the process of developing transparent OLED for subway windows, allowing passengers to read daily information including schedules, location data, weather forecasts, and headlines while also viewing the outside landscape through the subway glass window. Various information and advertisements appropriate for the time and location can be displayed directly on the glass window, like augmented reality when passing well-known landmarks and tourist attractions. The market for these modern and revolutionary products is anticipated to expand and be applied to several fields, including the mobility field in South Korea.
Smart Glass, which has the ability to top-up EV batteries by 10-15 miles per day and block heat from entering cars and buildings, continues to attract customers as EVs and hybrid automobiles make up a larger share of worldwide vehicle sales. The South Korean government proactively promotes technical research and development in the country. One example of government assistance for start-ups is through TIPS (Tech Incubator Program for Firms), a state-led incubation programme that uncovers and fosters potential entrepreneurs by strategically combining them with government financing. To maintain and strengthen the momentum, South Korea formed the Ministry of SMEs and start-ups in 2017 to systematically manage numerous start-up assistance programmes. Korea's economic strategy now includes the expansion of science and technology as a crucial component.
The high initial cost of installation and material costs pose a challenge. However, growing consumer awareness regarding the market and an inclination to stay updated with the latest technology could help in market expansion. The market is also being driven by rising environmental concerns and people's preference for high-tech, environmentally friendly products.
Based on technology, the South Korea smart glass and smart window market can be segmented into active and passive. Based on end use, the market can be divided into automotive, aviation, marine, and construction, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the South Korea smart glass and smart window market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
Polymer Dispersed Liquid Crystal (PDLC), Suspended Particle Device (SPD) glass, and Electrochromic (EC) are three variants of active smart glass which are used in the commercial as well as residential sectors. Photochromic and thermochromic smart glasses are the passive smart glass types that are used in sunglasses and temperature-sensitive windows. However, the market for active smart glasses is gaining traction due to people's inclination toward advanced technology. Active smart glass offers better functions and changes its appearance upon its activation. These are particularly used in the automobile industry and smart homes, among others.
The expansion of the smart glass market is anticipated to be fuelled by the growing consumer preference for better aesthetics in both commercial and residential settings. For aesthetics and increased thermal and visual comfort for people, as well as significant energy savings, smart windows are used in conjunction with lighting and air conditioning systems. Smart technology is being used by architects in new construction at an exponential rate, which is predicted to boost the market for smart glass and smart windows for architectural purposes.
The increased use of electric and hybrid vehicles in South Korea is compelling the manufacturers to employ the latest technologies in their vehicles while also promoting sustainability. Other segments are also expected to grow due to the increasing monetary support from the government for technologically oriented start-ups and research and development is further propelling the South Korea smart glass and smart window market.
Gauzy Ltd. In order to provide safe, sustainable, and agile user experiences across diverse sectors, Gauzy Ltd., a global leader in material science, focuses on the research, development, production, and marketing of vision and light control solutions. With production facilities in the US, Israel, Germany, France, and ten other locations around the world, as well as sales, marketing, and fulfilment centres, Gauzy provides products through a distribution network that spans over 40 countries. Its products are used in offices, elevators, lighting and security systems, vending machines, store windows, military and police applications, construction, architecture, automotive, and aviation markets, among others.
Korea Glass Industry Co., Ltd. (Hanglas)- In South Korea's glass industry, HanGlas has established itself as a dominant force ever since it lit its first fire in a smelting furnace in 1957. The company Hankuk Glass Industries Inc. produces a wide range of glass goods, including flat glass, glass wools, tube glass, and car windshields. HanGlas is the first company in the world to create SPD (special particle devices) glass, demonstrating its technical leadership by enabling light transmission to be electrically regulated either manual or automatic. HanGlas has continued to diversify its product line by adding glass goods with unique uses, such as lighting glass and glass wool for insulation and sound absorption.
|Scope of the Report||
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Technology||
|Breakup by End Use||
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 South Korea
7 Industry Opportunities and Challenges
8 South Korea Smart Glass and Smart Window Market Analysis
8.1 Key Industry Highlights
8.2 South Korea Smart Glass and Smart Window Historical Market (2018-2022)
8.3 South Korea Smart Glass and Smart Window Market Forecast (2023-2028)
8.4 South Korea Smart Glass and Smart Window Market by Technology
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.5 South Korea Smart Glass and Smart Window Market by End Use
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
9 Market Dynamics
9.1 SWOT Analysis
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indicators for Demand
9.4 Key Indicators for Price
10 Value Chain Analysis
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Gauzy Ltd.
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
11.2.2 Korea Glass Industry Co., Ltd. (Hanglas)
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
11.2.3 Gentex Corporation
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
12 Industry Events and Developments
List of Key Figures and Tables
1. South Korea Smart Glass and Smart Window Market: Key Industry Highlights, 2018 and 2028
2. South Korea Smart Glass and Smart Window Historical Market: Breakup by Technology (USD Million), 2018-2022
3. South Korea Smart Glass and Smart Window Market Forecast: Breakup by Technology (USD Million), 2023-2028
4. South Korea Smart Glass and Smart Window Historical Market: Breakup by End Use (USD Million), 2018-2022
5. South Korea Smart Glass and Smart Window Market Forecast: Breakup by End Use (USD Million), 2023-2028
6. South Korea Smart Glass and Smart Window Market Structure
The market is projected to grow at a CAGR of 14.5% between 2023 and 2028.
Global level exhibitions, government’s support to start-ups, usage of smart glass and smart windows in various industries, growing usage of this technology in electric and hybrid vehicles, increased disposable income, and a high standard of living are the major drivers.
Continuous research and installation of smart displays in various settings by key players such as LG and Kakao Corporation are the leading trends in the market.
The dominant types of smart glass and smart window technology in the industry are active and passive.
The major players in the industry are Gauzy Ltd., Korea Glass Industry Co., Ltd. (Hanglas), and Gentex Corporation among others.
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