Global Smart Window Market Research Report: by Technology (Electrochromic Technology, PDLC, SPD and Photochromic), by Application (Architectural and construction, Transportation, Automotive, Aircraft, Marine, Consumer Goods and Power Generation), by Region (North America, Europe, Asia-Pacific, Middle East & Africa and Central & South America) - Forecast till 2025

Market Snapshot

Global Smart Window Market is expected to register a CAGR of 17.8%, witnessing substantial growth during the forecast period. The market was valued at USD 2,870.6 Million in 2017; it is expected to reach USD 9083.7 Million by 2025.

Smart window technology can increase the functionality of glass by reducing the noise and temperature of the surroundings. Among all the sectors and industries served by the smart window manufacturers, the suspended particle devices (SPD) technology segment has registered the highest rate of adoption. The major objective is to provide a cost-effective and eco-friendly window-installation solution to the end-users. Smart windows find a wide range of applications in the healthcare, defense, and entertainment industries, among others. The demand for electrochromic technology smart windows is rapidly increasing in many applications.

North America accounted for the largest market value of USD 844.1 Million in 2017; the market is expected to register a CAGR of 19.6% during the forecast period.

Global Smart Window Market, By Technology (2018 Vs 2025)

Source: MRFR Analysis

Based on Technology, the smart window market has been segmented into electrochromic technology, PDLC, SPD, and photochromic. Among these, the SPD technology segment dominated the market in 2018, capturing nearly a 33% market share, whereas the electrochromic technology segment is expected to register the highest CAGR during the forecast period. The electrochromic technology segment was the fastest-growing market and is projected to register the highest CAGR of 19.7% during the forecast period. Electrochromic technology reflects light, reducing the need for air conditioning (AC), which indirectly lowers the heavy cost of installing AC systems as well as the day-to-day costs associated with their maintenance. PDLC technology is mostly used for interior and exterior windows. It switches the transparency property of glass from clear to opaque in less than a second. PDLC technology is available in a self-adhesive switchable film that can be applied to existing windows and laminated smart windows and provides high privacy owing to its opaque-state suspended particle devices. SPD glass panels enable users to instantly control the dimming properties of their windows. This technology provides instant and precise light control. It has an exceptional optical feature that reduces glare and eye strain. Photochromic technology is used in transitional lenses. Photochromic technology lenses are cost-effective and also convenient for use.

The major factors boosting the growth of the market include the growing demand for smart windows in transportation applications and the use of smart windows in the healthcare sector. However, the overall limited awareness regarding the benefits of smart window technologies along with the complexities associated with it are a few challenges resulting in the slow growth of the market. The high price of the products is significantly hampering its adoption; therefore, with ongoing research & development, substitutes for smart windows are eventually expected to emerge in the market in the future.

Regional Analysis

Global Smart Window Market, by region, has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Central & South America. In 2019, North America accounted for the largest market value of USD 1,059.1 Million, whereas Asia-Pacific registered the highest CAGR of 21.8%.

Companies Covered

The Key Players of the Global Smart Window Market are Saint-Gobain Group (France), RavenWindow (US), PPG Industries, Inc. (US), LTI Smart Glass, Inc. (US), Kinestral Technologies, Inc. (US), Gentex Corporation (US), Merck KGaA (Germany), Pleotint, LLC ( US), E-Chromic Technologies, Inc. (US), ChromoGenics AB (Sweden), AGC, Inc. ( Japan), Hitachi Chemical Co., Ltd (Japan), Nippon Sheet Glass Co., Ltd (Japan), and Innovative Glass Corporation (US), among others.

Key Developments  

• In January 2018, Innovative Glass Corporation partnered with Saint-Gobain, makers of electronically tintable SageGlass, to become the company's exclusive sales representative in New York, New Jersey, and Connecticut. This partnership enabled Innovative Glass to offer high-quality, yet cost-effective, and reliable exterior window solutions to further address the light and energy management needs of their customers.

• In January 2017, Nippon Sheet Glass Co., Ltd acquired a license from Research Frontiers, Inc. to produce and sell SPD-SmartGlass architectural intelligent products throughout the US, Canada, Mexico, Japan, China, and Taiwan.

• In January 2019, AGC, Inc. developed a high-transparency, high-refractive-index glass substrate for use in AR/MR glasses. The company aims at continuous expansion of the reach of this product across a wide range of markets, including AR/MR glasses and in-vehicle technology markets.

• In September 2018, ChromoGenics AB signed an agreement with hardware component manufacturer Regal Förvaltning AB, to deliver ConverLight Dynamic Glass to Regal office in Uppsala. ChromoGenics’ dynamic glass automatically controls the heat and daylight emitted in buildings, providing increased indoor comfort.

Segmentation

• By Technology: Electrochromic Technology, PDLC, SPD, and Photochromic.


• By Application: Architectural and construction, Transportation, Automotive, Aircraft, Marine, Consumer goods, and Power Generation.


• By Region: North America, Asia-Pacific, Europe, the Middle East & Africa, and Central & South America.

Key Questions Addressed by the Report

• What was the historic market size (2017)?


• Which segmentation (Technology/Application) is driving the market?


• What will be the growth rate by 2025?


• Who are the key players in this market?


• What are the strategies adopted by the key players?

Frequently Asked Questions (FAQ) :