Smart Glass And Smart Window Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Smart Glass And Smart Window market in 2021?

The global smart glass and smart window market had a market size of USD 5.8 billion in 2021 and is expected to grow at a CAGR of 14.5% from 2021 to 2028. The market is anticipated to reach USD 12.3 billion by 2028. Smart glass and smart windows are innovative technologies that offer various benefits such as energy efficiency, enhanced privacy, and temperature control, contributing to their increasing adoption in commercial and residential buildings.

COVID-19 Impact on the Smart Glass And Smart Window Market

The COVID-19 pandemic had a mixed impact on the smart glass and smart window market. On one hand, the construction industry faced disruptions due to lockdowns and restrictions, leading to project delays and cancellations. This significantly affected the demand for smart glass and smart windows in the short term. However, as the focus on health and safety increased, the need for touchless technologies and smart solutions also grew, driving the adoption of smart glass and smart windows in various applications such as healthcare facilities, retail stores, and offices.

Smart Glass And Smart Window Dynamics

The smart glass and smart window market dynamics are influenced by factors such as technological advancements, increasing investments in infrastructure development, and the growing focus on energy efficiency and sustainability. The demand for smart glass and smart windows is driven by their ability to regulate light and heat transmission, improve indoor comfort, and enhance overall building aesthetics. As the awareness about environmental conservation and energy savings rises, the adoption of smart glass and smart windows is expected to increase across various end-user industries.

Segments and Related Analysis

The smart glass and smart window market can be segmented based on technology, application, end-user industry, and region. By technology, the market is categorized into electrochromic, thermochromic, SPD, PDLC, and others. Applications of smart glass and smart windows include windows, doors, partitions, skylights, and others. The end-user industries utilizing smart glass and smart windows include construction, automotive, aerospace, healthcare, and others. Understanding these segments and their related analysis is crucial for market players to identify growth opportunities and make informed decisions.

By Region Analysis

In terms of regions, North America held the largest share of the smart glass and smart window market in 2021, driven by the early adoption of smart technologies, stringent building energy codes, and the presence of key market players. Europe and Asia Pacific followed closely, with increasing infrastructure development projects and rising investments in smart building solutions. Latin America and the Middle East & Africa regions are also showing promising growth potential, fueled by urbanization and the need for sustainable building solutions.

Key Market Players and Competitive Landscape

Key market players in the smart glass and smart window market include Saint-Gobain, Research Frontiers Inc., AGC Inc., RavenWindow, ChromoGenics AB, and View Inc. These companies are focusing on product development, strategic partnerships, and investments in research and development to enhance their market presence and stay competitive. The market landscape is characterized by the presence of both established players and new entrants, driving innovation and technological advancements in smart glass and smart windows.

Recent happenings in the Smart Glass And Smart Window Market

- In March 2021, Saint-Gobain launched a new range of smart glass solutions for commercial buildings, offering enhanced energy efficiency and visual comfort. - In July 2021, Research Frontiers Inc. announced a collaboration with a leading automotive manufacturer to integrate its SPD-SmartGlass technology in upcoming vehicle models. - In September 2021, AGC Inc. introduced a new smart window product with advanced light control features for residential applications. - In December 2021, RavenWindow unveiled a next-generation smart window technology that dynamically adjusts its tint based on external conditions to optimize energy savings. - In February 2022, ChromoGenics AB expanded its product portfolio with smart glass solutions for healthcare facilities, providing privacy and light control features. - In May 2022, View Inc. announced a partnership with a major real estate developer to install smart windows in a commercial office building, demonstrating the growing demand for smart building solutions.