Global Smart Glass Market Research Report: Forecast (2024-2030)

Market Definition

Smart glass, also known as switchable glass, is a glass that changes or alters its light transmission properties when voltage, heat, or light is applied. This dynamic capability enables smart glass to adapt to varying environmental conditions, user preferences, or operational requirements, making it suitable for a wide range of applications in diverse industries such as construction, automotive, aerospace, healthcare, and consumer electronics.

Market Insights & Analysis: Global Smart Glass Market (2024-30):

The Global Smart Glass Market size was valued at USD 6.2 Billion in 2023 & is estimated to grow at a CAGR of around 15.12% during the forecast period, i.e., 2024–30. The market growth is attributed to rising government investment toward the adoption of renewable energy sources such as solar power, which has spurred the demand for smart glass as it is used in photovoltaic panels. Moreover, the sharp growth in demand for smart devices and electronic gadgets worldwide, the burgeoning inclination toward the development of green and eco-friendly buildings, and the extensive demand for smart glasses in transportation industries such as automobile, aerospace, and aviation are proliferating the growth of the Global Smart Glass Market.

In addition, smart glass technologies contribute to energy efficiency and sustainability by reducing the need for artificial lighting, heating, and cooling in buildings. Thus, the dynamic control of solar heat gains and daylighting helps minimize energy consumption, leading to lower utility bills and reduced carbon emissions. The adoption of smart glass, which aligns with global initiatives to combat climate change and achieve sustainability goals, is further anticipated to enhance the market size & volume in the coming years.

Moreover, various large-scale projects in commercial, automotive, residential, etc. are expected to be completed in the coming years to increase the GDP of developing countries through industrial manufacturing. According to the Organization of Economic Cooperation & Development (OECD), G20 economies, which hold around 85% of the global GDP, showed augmented manufacturing output in 2022 as compared to 2015. Economies such as Turkey, Russia, India, South Korea, and Indonesia exhibited growth of nearly 46%, 21.2%, 18.9%, 17%, and 13.9% in manufacturing output during the period.

Thus, the rapid increase in manufacturing output, coinciding with the urban population, has attracted several newer investments across the globe, which would enhance the existing units & help establish new ones. Consequently, as manufacturing output increases, there is a greater need for transportation infrastructure to facilitate the movement of goods and materials. Smart glass is utilized in transportation hubs, terminals, and infrastructure projects to enhance aesthetics, functionality, and sustainability, which is further expected to enhance market growth during the forecast period.

Global Smart Glass Market Driver:

Surge in Urbanization & Infrastructural Development Augmenting Demand for Smart Glass – Growing urbanization has led to the expansion of cities as well as a massive migration of population from rural to urban spaces. With urbanization in developing regions such as Asia-Pacific, the Middle East, and Africa, the construction of residential & commercial spaces has grown extensively. Subsequently, this enhances the need for smart glass in commercial buildings, residential properties, transportation infrastructure, and public spaces. According to the United Nations Conference on Trade and Development (UNCTAD), 57% of the total world population lived in urban areas in 2021, which is further expected to rise to nearly 68% by 2030, leading to the enhancement of commercial & residential construction in the coming years.

Furthermore, rising government initiatives supporting the residential sector include providing capital & financing push to the buyers as well as the real estate developers to fuel the construction activities. The respective support by the government in developing regions such as the Middle East, Asia-Pacific, South America, etc., to expand home ownership among the citizens is another crucial aspect, driving demand for smart glass in the respective regions.

Global Smart Glass Market Opportunity:

Increasing Deployment in Automotive Applications – In recent years, smart glass has gained traction in the automotive sector, where it is used for sunroofs, windows, and mirrors to enhance safety, comfort, and aesthetics. As consumers demand more connected and technologically advanced vehicles, the integration of smart glass technologies for glare reduction, privacy control, and augmented reality displays would create new opportunities for market growth & expansion during the forecast period.

In addition, the deployment of smart glass contributes to passenger comfort by regulating the transmission of solar heat and UV radiation into the vehicle cabin. It helps to dynamically adjust tint levels based on ambient light conditions. Smart glass helps maintain a comfortable interior temperature, reduces the need for excessive air conditioning, and minimizes heat build-up in the cabin. This enhances passenger comfort, reduces energy consumption, and improves the overall driving experience, making smart glass an essential feature in modern vehicles that prioritizes both sustainability and user satisfaction.

Global Smart Glass Market Challenge:

Technical Complexity & Reliability Concerns to Impede Market Growth – The manufacturing of smart glass technologies involves complex manufacturing processes, which vary depending on the type of smart glass technology used, such as electrochromic, thermochromic, and SPD. These processes often require specialized equipment, materials, and expertise, leading to higher production costs and longer lead times. Hence, any disruptions or inefficiencies in the manufacturing process can affect product quality, consistency, and reliability.

Furthermore, maintaining color consistency across smart glass panels is critical for achieving uniformity and aesthetics in architectural and automotive applications. The variations in color temperature, tint level, and hue among different batches of smart glass panels can detract from the overall appearance and functionality of the installation. Thus, manufacturers must implement stringent quality control measures and color calibration techniques to ensure consistent color reproduction and minimize color deviation.

Global Smart Glass Market Trend:

The Emergence of Smart Cities and IoT Integration – IoT technologies are being used more and more by smart cities to improve sustainability, efficiency, and urban infrastructure. In this context, smart glass is used in several industries, including energy management, transportation, and construction. Smart glass can now improve energy consumption, react dynamically to environmental changes, and give building management systems data-driven insights due to IoT integration.

The need for smart solutions that can raise living standards while lessening their negative effects on the environment is growing as the population of cities increases. Thus, the integration of IoT and smart glass technology with smart cities offers encouraging prospects for market expansion and innovation, propelling the creation of sustainable and more effective urban settings.

Global Smart Glass Market (2024-30): Segmentation Analysis

The Global Smart Glass study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment. It includes predictions for the period 2024–2030 at the global level. According to the analysis, the market has been further classified as:

Based on End User:

• Architecture
  • Residential
  • Commercial
• Transportation
  • Automotive
  • Aerospace
  • Marine
• Power Generation Plants
• Consumer Electronics & Others

The architecture segment is expected to attain the highest growth rate in the Global Smart Glass Market during the forecast period, owing to the increasing demand for innovative and energy-efficient solutions in the construction industry. With rising awareness of environmental sustainability and the need to reduce energy consumption in buildings, there is a growing demand for energy-efficient solutions in architecture. Smart glass offers dynamic control over light transmission and solar heat gain, allowing buildings to optimize natural light utilization and reduce reliance on artificial lighting and HVAC systems. This capability aligns with the sustainability goals of architects, developers, and building owners, driving the adoption of smart glass in architectural projects.

Moreover, the consumer electronics segment is also anticipated to witness rapid growth by 2030 due to the introduction and adoption of innovative smart phones and electronic gadgets, which would have a positive impact on the growth & expansion of the Smart Glass Industry globally in the coming years.

Based on Technology:

• Electrochromic
• Suspended Particle Devices
• Liquid Crystal
  • Polymer Dispersed Liquid Crystals (PDLCS)
  • Twisted Nematic (TN) Liquid Crystals
• Thermochromic
• Photochromic
• Micro-Blinds
• Others

The electrochromic segment is anticipated to witness significant growth in the coming years due to its exceptional versatility and energy-efficient characteristics. Electrochromic smart glass enhances occupant comfort and well-being by providing glare control and daylight optimization. It further helps to reduce glare and minimize solar heat, and it creates a more comfortable indoor environment, especially in spaces with large windows or exposed facades, as compared to other technologies.

Furthermore, electrochromic glass is integrated with building management systems (BMS) or smart home systems for centralized control and automation, enhancing user convenience and operational efficiency. Hence, as electrochromic smart glass continues to gain traction in commercial, residential, and automotive applications, it is expected to play a significant role in shaping the future of sustainable and intelligent buildings worldwide during 2024–2030.

Global Smart Glass Market (2024-30): Regional Projections

Geographically, Global Smart Glass Market expands across:

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Asia-Pacific accounted for a maximum revenue share in the Global Smart Glass Market in 2023 and would continue to dominate the market in the forecast years as well. The factors responsible for market growth are increasing government policies such as Make in India & Made in China 2025 to promote the establishment of manufacturing plants to make the respective economies self-sufficient & capable of exporting surplus goods. As these facilities are built or renovated, there is a growing demand for smart glass solutions to enhance energy efficiency, sustainability, and functionality in the built environment.

However, since China, the world's largest manufacturing center, is witnessing a hike in labor costs due to the country's aging population, it has piqued the interest of manufacturers to establish their manufacturing faculties in Southeast Asian countries such as Vietnam, Thailand, Malaysia, and Indonesia. Consequently, as manufacturing shifts to Southeast Asia, there is an increasing need for smart glass solutions to equip new industrial facilities and commercial buildings with advanced building technologies in the coming years.

Global Smart Glass Industry Recent Development:

• In 2023: Saint Gobain announced plans to invest around USD 400 million to expand its production capacity at four key manufacturing locations in the US. It includes various businesses, including Gypsum, Plasterboard, Float Glass, Solar Glass, Ceramics, etc.
• In 2023: AGC and Saint Globin, global manufacturers of flat glass, announced a collaborative effort to design a ground-breaking pilot flat glass production line aimed at substantially reducing its direct CO2 emissions. This advancement leads to the transformation of industrial flat glass lines to be powered by low-carbon electricity, surpassing the efficiency of gas solutions and resulting in significantly reduced carbon emissions for customers.

Gain a Competitive Edge with Our Global Smart Glass Market Report

1. Global Smart Glass Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. Global Smart Glass Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.