Summary

The smart glass market was valued at USD 3.89 billion in 2020 and is expected to reach USD 7.96 billion by 2026, at a CAGR of 12.5% over the forecast period (2021 - 2026). The outbreak of the COVID-19 market has caused disruptions in the smart glass market. The market studied was highly affected due to the decrease in construction activities and supply chain disruptions. The outbreak of the COVID-19 pandemic has significantly affected the construction activities of residential and commercial buildings in 2020. It has resulted in building construction projects being delayed or halted for the short term.

Key Highlights
The increasing regulatory reforms, such as LEEDS, National Green Building Standard, Green Globes, etc., for green buildings, encourage commercial building owners to invest in smart energy-saving solutions, such as smart glass.
The increasing applications in the field of transportation are creating immense demand for smart glass. It is estimated that smart glasses installed in automobiles can provide 98% UV protection and 40% solar reduction for making the vehicles' cabins more comfortable.
Like Boing and Airbus, aerospace application companies are implementing smart glass technology by integrating with IoT systems. For instance, Boeing 787 Dreamliner airplane employs electrochromic windows, which turn entirely opaque owiththe click of a button. This trend is gaining popularity among luxury and private jet manufacturers globally, opening new opportunities in the market.
In May 2020, Click Materials, a Vancouver-based developer of "smart glass," has inked a significant partnership with one of the largest manufacturers of windows for the home, CardinalGlass, as it views to challenge the billion dollar-backed View Inc. Click Materials mentioned that its windows can decrease heating and cooling costs by up to 50% and that it can accomplish those reductions while cutting manufacturing costs by as much as 60%.


Key Market Trends

Automotive is Observing a Significant Increase


Smart glass has found a large-scale application, particularly in the automotive industry, in sunroofs, and exterior and interior automatic dimming rear-view mirrors. Smart glass installations are seen in top automotive manufacturers, such as BMW and Mercedes. Mercedes-Benz offers its S-Class Coupe and other variants of the S-Class, with the option of modern Magic Sky Control panoramic roof, using SPD-SmartGlass technology. Some of the benefits of SPD-SmartGlass include remarkable heat reduction inside the vehicle, UV protection, glare control, noise reduction, and fuel consumption.
Recent applications witnessed in smart glass that is currently being used to merchandise new launches, notably Jaguar Land Rover, which used it to launch the F-Type, and Rolls Royce, which used it to launch the Dawn. By combining switchable technology with a projection application, the customer can use two of the most coveted switchable glass features to maximum effect.
Smart glass is also increasingly being adopted in trains. For instance, a monorail train in South Korea has windows that automatically fog when passing by the apartments close to the train. The glazing occurs when the window’s light transmission properties are altered by applying voltage, heat, or light to the surface.
With smart glass, drivers can adjust the amount of light penetrating the car just at a click of a button. The capacity of the windshield and the windows can be customized to suit the driver and the passengers. Moreover, incremental adjustments in tint are also being allowed. With smart glass, driving has become safer due to reduced glare, and comfort improves because of the air-conditioning's better functioning as light influx reduces.
The growing applications in the field of transportation have been generating immense demand for smart glass. It is anticipated that smart glasses installed in automobiles can provide 40% solar reduction and 98% UV protection for making the vehicles' cabins more comfortable.


North America is Expected to Hold the Largest Share


Smart glass is becoming one of the region's popular building materials. One of the reasons for its growing popularity is that it is a multi-purpose building material that architects use for several different purposes.
Smart glass has become an increasingly widespread feature for the commercial design sector because of its aesthetic value. For instance, Spirit Lake Casino and Resort, a fine dining restaurant in North Dakota, installed smart glass for providing (the guests) spectacular views of the natural surroundings, despite solar glare problems. The technology is also helping the restaurant save money by reducing the conditions' cooling load of air conditions during the sunny days.
The demand for smart glass is increasing owing to the growing concerns of energy consumption in buildings, especially in the commercial sector. According to the Department of Energy (DOE), buildings account for 40% of the total energy consumption of the United States and about 70% of the electricity use. Windows are commonly considered as the least energy-efficient building components. They are responsible for about 40% of the total energy consumption for cooling and heating, as well as lighting (as natural light blocked by shades has to be replaced by artificial light, according to the California Energy Commission). The factors mentioned above are expected to influence the demand for smart glass in the region.
As building codes around the United States are driving the demand for greener designs, smart glass windows emerged as an appealing product to a variety of customers within the building sector. Such trends are expected to drive the demand for smart glass market in the region.
Further, the region has been witnessing the adoption of technology from the government sector. For instance, Government Services Administration Headquarters (USA) adopted smart glass for renovation at the agency's headquarters. The smart glass helps to keep building occupants comfortable while minimizing the amount of energy consumed for cooling and heating. It can reduce the building's cooling load by up to 20% and HVAC requirements up to 30%. This glass also supports the GSA's commitment to using more green technologies in its renovated buildings.


Competitive Landscape

The Global Smart Glass market is partially consolidated with the presence of numerous players manufacturing various products in the market. Some of the prominent players in the market include View Inc., Corning Incorporated, Gentex Corporation, Smart Films International, Argil Inc., among others.


January 2021 - Corning Incorporated stated that Lava would be India's first mobile device business to sell a Rs. 5,499 military-grade smartphones are emphasizing Gorilla Glass 3. Slated for release in January, the Z1 smartphone is part of a new lineup of lately launched Lava devices that also covers the Z2, Z4, and Z6 smartphones which all utilize Gorilla Glass 3 and offer an approach point for many Indian customers to move from a feature phone to a smartphone.
January 2021 - SPD-Smart light control film, designed and patented by Research Frontiers, is a vital part of SPD-SmartGlass products. This film enables users to instantly, precisely, and consistently control the shading of glass or plastic goods, either manually or automatically, at the impression of a button. Products using Research Frontiers’ smart glass technology are being used in tens of thousands of cars, aircraft, yachts, trains, homes, offices, museums, and other buildings.
July 2021 - View, Inc., one of the prominent players in smart building platforms and smart windows, stated it had acquired IoTium, the provider of secure, cloud-managed, software-defined IoT networks. IoTium’s easy-to-deploy solutions allow building owners to quickly achieve enterprise-grade safety, reduce operating costs, and gain real-time visibility into their complete real estate portfolios.


Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

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