Smart Glass Market Research Report - Global Forecast till 2025

Global Smart Glass Market Research Report: By Technology (Electrochromic Technology, PDLC, SPD, Photochromic and others), By Application (Architectural and Construction, Transportation, Automotive, Aircraft, Marine, Consumer Goods and Power Generation) - Forecast till 2025

ID: MRFR/ICT/1298-CR | October 2019 | Region: Global | 130 pages

Market Overview

Global Smart Glass Market size can reach USD 9,083.7 Million by 2025, according to Market Research Future (MRFR). It can exhibit a 17.8% CAGR over the forecast period (2018-2025). Smart glasses are electronically controlled devices that provide control to the user for controlling the volume of glare, light, and heat. Sustainable solutions coupled with incentives can drive the market demand over the forecast period.

COVID-19 Analysis

The COVID-19 pandemic has severely hit the production of smart glasses as the virus spreads globally. Decline in construction projections and hurdles in supply chains can affect market sales. However, an opportunity belies smart glasses as creativity and continued business activity needs to run on-site production. Investment in a digital instruction and inspection execution platform can enable the use of a smart glass for ensuring the production runs smoothly. Proceedix is an instance of such a platform that provides workers with such instruction that can be reviewed by their direct supervisors remotely.

Market Dynamics

  • Drivers

Growing Demand for Smart Glass in Transportation

  • Opportunities

High Potential for Solar Energy

  • Restraints

High Costs and Security Concerns

  • Cumulative Growth Analysis

Segment Analysis

By Technology

SPD to Rule Global Smart Glass Market

The SPD segment is expected to account the largest market share and will touch a valuation of USD 949.7 million by 2025. This is attributed to energy consumption levels in commercial and industrial buildings. Reduction of electric power can increase energy savings due to utilization of daylight.

Electrochromic to Register High Growth

The electrochromic technology segment can register the highest growth rate during the forecast period owing to high blockage power to UV rays and reduced response time for applying glass effects. Huge disposable income levels and rising demand in luxury automobiles are prime drivers of the segment.

By Application

Transportation and Healthcare to Command Huge Market Demand

Regional Analysis

APAC to Rule Global Smart Glass Market Growth

APAC is expected to be lucrative for the global smart glass market growth owing to applications in protection of humans from UV rays and fading of furniture and fabrics. Implementation of smart glasses in latest construction projects can bode well for the region. Moreover, opportunities in transportation and consumer electronics sectors as evident by the use of SPD in latest variants of Mercedes Benz cars.

North America to Command Huge Market Share

North America is expected to command a huge demand share of smart glass owing to favorable mandates for lowering energy costs. Moreover, the mandatory use of smart glasses in the transportation sector and the growing automotive production can bode well for the regional smart glass market growth.

Competitive Landscape

Global Smart Glass Market is highly competitive with similar head-mounted display technology being launched by various players. Partnerships with prominent social media companies seem to be the norm as the large consumer database act as a vital litmus test for its success. The appeal of an immersive lifestyle combined with innovations in AR and VR can shape the market in the forthcoming years.

Key Companies Covered in the Report

  • Nippon Sheet Glass Co. Ltd (Japan)

  • Chromogenics AB (Sweden)

  • E-Chromic Technologies INC. (U.S.)

  • PPG Industries Inc (U.S.)

  • Saint-Gobain Group (France)

  • Innovative Glass Corporation (U.S.)

  • LTI Smart Glass Inc (U.S.)

  • Ravenwindow (Ravenbrick LLC) (U.S.)

  • Kinestral Technologies Inc. (U.S.)

  • Hitachi Chemical Co. Ltd (Japan)

  • AGC Inc (Japan)

  • Gentex Corporation (U.S.)

  • Merck KGAA (Germany)

  • Pleotint Llc (U.S.)

Recent Developments

  • The Vuzix M400 by Vuzix Corporation was used in a study conducted by the University Malaya Specialist Centre (USMC) for determining their efficacy in delivering telemedicine. It was deemed highly effective in providing critical care to neurosurgical patients and can be considered as an alternative to contact care.

Report Scope

It is segmented in the following manner:

By Technology

  • SPD

  • PDLC

  • Photochromic

  • Electrochromic Technology

  • Others

By Application

  • Power Generation

  • Consumer Goods

  • Architectural and Construction

  • Transportation

  • Automotive

  • Aircraft

  • Marine

Frequently Asked Questions (FAQ) :

Smart glass is effective in saving substantial amount of energy, which is facilitating the rising popularity of the product.

The market size is expected to reach USD 9083.7 Mn by 2025.

North America is poised to mark 19.6% CAGR over the review period.

The smart glass market, by technology, has been segmented into electrochromic technology, photochromic, PDLC, SPD, and others.

By technology, the electrochromic technology segment is poised to mark the highest CAGR.

High cost, as well as security concern, is poised to pose challenge to market participants.