Smart Glass Market is expected to Reach USD 13.83 Billion by 2032 - Research by SNS Insider

Smart Glass Market Growth Fueled by the rising demand for energy-efficient building solutions and innovations in smart glass technologies.

AUSTIN, TEXAS, UNITED STATES, November 19, 2024 /EINPresswire.com/ -- Market Size & Industry Insights

As Per the SNS Insider,“The Smart Glass Market Size was valued at USD 6 Billion in 2023 and is expected to reach USD 13.83 Billion by 2032, growing at a CAGR of 9.76% over the forecast period 2024-2032.”

The Rise of Smart Glass Innovations and Sustainability Fueling Market Expansion

The rising demand for energy efficiency and sustainability in architectural design significantly propels the smart glass market. As energy costs increase, architects and building owners are increasingly adopting smart glass solutions that offer dynamic light control, minimizing dependence on artificial lighting and HVAC systems. Innovations in smart glass technologies, including electrochromic and photochromic materials, enhance both functionality and aesthetics, making these solutions appealing for commercial and residential uses. Furthermore, the growing trend of smart buildings integrated with IoT devices supports the demand for smart glass, enabling automated window tinting and transparency control to enhance comfort and energy savings.

Smart Glass Market Growth Driven by Technology Advancements and Energy Efficiency Demand

The smart glass market has experienced substantial growth recently, fueled by advancements in technology and a rising demand for energy-efficient solutions across multiple sectors. By 2022, the market saw an impressive sale of 32.7 million units. The augmented reality (AR) glasses segment is expected to expand further, with projected sales increasing from 2.11 million units in 2023 to 3.9 million in 2024. Notably, 49% of surgeons believe smart glasses could significantly reduce complications and fatalities in operating rooms by minimizing human error. These glasses can regulate indoor temperatures by adjusting automatically to sunlight and environmental changes, which helps lower energy consumption in commercial buildings—an area where operational costs are high. Consequently, architects and builders are integrating smart glass technology into designs to achieve energy efficiency standards and green building certifications. Smart glass enhances privacy, controls glare, and improves aesthetics, making it increasingly popular in commercial and residential settings.

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SWOT Analysis of Key Players as follows:
Saint-Gobain
View Inc.
Gentex Corporation
AGC Inc.
Research Frontiers Inc.
Asahi Glass Co. Ltd.
Corning Inc.
Schott AG
Polytronix Inc.
PPG Industries Inc.
Kinestral Technologies Inc.
Guardian Industries
Smartglass International Ltd.
Gauzy Ltd.
RavenWindow
Innovative Glass Corp.
LTI Smart Glass Inc.
Fuyao Glass Industry Group Co. Ltd.
Hitachi Chemical Co. Ltd.
Nippon Sheet Glass Co. Ltd

By Technology

In 2023, the electrochromic segment led the smart glass market with a 63.12% market share, attributed to its wide range of applications and effectiveness in energy control. Electrochromic glass changes tint when an electric current is applied, providing adjustable management of light and heat transfer, which is increasingly valued in both commercial and residential buildings for energy efficiency and improved comfort. Companies such as View, Inc. manufacture smart windows that automatically modify tint levels throughout the day. Additionally, Suspended Particle Devices (SPD) are expected to experience rapid growth from 2024 to 2032 due to their quick adjustability and exceptional capabilities in glare and privacy management.

By Application

In 2023, the transportation segment captured over 45% of the smart glass market, driven by its diverse applications in vehicles like cars, trains, and planes. Smart glass technology enhances passenger comfort and safety by regulating light and heat, which boosts energy efficiency. For example, Vision Systems offers innovative airplane windows that transition from clear to opaque, reducing glare and improving passenger privacy. In the automotive sector, Mercedes-Benz employs smart glass in its luxury vehicles, allowing for customizable visibility and an enhanced driving experience. Meanwhile, the architectural segment is expected to grow rapidly from 2024 to 2032, fueled by the demand for energy-efficient buildings and smart home technologies.

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KEY MARKET SEGMENTS:

By Technology
-Electrochromic
-Polymer Dispersed Liquid Crystal (PDLC)
-Suspended Particle Devices (SPD)
-Thermochromic
-Photochromic

By Application
-Architectural
-Transportation
-Consumer Electronics
-Power Generation

By Control Mode
-Rheostats
-Switches
-Remote
-Others

North America Dominates Smart Glass Market While Asia-Pacific Emerges as a Fast-Growing Region

In 2023, North America led the smart glass market with a 35% share, bolstered by strong infrastructure and regulations that favor energy-efficient solutions. Key players like Glaston Corporation and SAGE Electrochromics are pioneering advancements in electrochromic and photovoltaic glass technologies. The growing demand for smart buildings, automotive applications, and consumer electronics emphasizes sustainability and energy efficiency, making smart glass an attractive option.

The Asia-Pacific region is expected to emerge as the fastest-growing market from 2024 to 2032, driven by rapid urbanization, rising disposable incomes, and a focus on energy efficiency. Countries such as China and India are increasing infrastructure investments, elevating the need for innovative construction materials like smart glass, with companies like Saint-Gobain and AGC Inc. expanding their presence in architectural applications.

Recent Development

-August 2024: Artificial intelligence-powered eyewear becomes the latest trend among Chinese tech firms looking to leverage consumer interest in merging generative AI with wearables, following the release of Ray-Ban's Meta smart glasses.
-July 2024: Meta Platforms considers acquiring a minority stake in Essilor Luxottica, the parent company of its partner for the development of Ray-Ban Meta glasses, as it speeds up its smart glasses initiatives.
-February 2024: Apple continues to experiment with new products and concepts behind closed doors, with occasional insights into some of its innovative ideas.

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Key Takeaways

-The report offers in-depth insights into the smart glass market, covering market size, growth trends, and recent developments.
-It emphasizes significant technological advancements that are influencing the industry.
-Key players driving market growth are identified and analyzed.
-The report equips stakeholders with valuable knowledge to effectively navigate the rapidly evolving market landscape.

Table of Content - Major Points Analysis

Chapter 1. Introduction

Chapter 2. Executive Summary

Chapter 3. Research Methodology

Chapter 4. Market Dynamics Impact Analysis

Chapter 5. Statistical Insights and Trends Reporting

Chapter 6. Competitive Landscape

Chapter 7. Smart Glass Market Segmentation, by Technology

Chapter 8. Smart Glass Market Segmentation, by Application

Chapter 9. Regional Analysis

Chapter 10. Company Profiles

Chapter 11. Use Cases and Best Practices

Chapter 12. Conclusion

Continued…

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Akash Anand
SNS Insider Pvt. Ltd
415-230-0044
info@snsinsider.com
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