What is the global market size of Smart Glass Market?

Global Smart Glass Market size was valued at USD 5.13 billion in 2021 and is poised to grow from USD 5.84 billion in 2022 to USD 12.76 billion by 2030, growing at a CAGR of 10.3% in the forecast period (2023-2030).

Who are the key vendors in the Global Smart Glass Market?

The global smart glass market is fragmented and highly competitive. Key industry players are focused on product developments, new product launches, and geographical expansions to gain a significant amount of market share. 'Saint-Gobain', 'AGC Inc.', 'Corning Inc.', 'Gentex Corporation', 'PPG Industries', 'Research Frontiers Inc.', 'SCHOTT AG', 'Smartglass International Ltd.', 'Asahi Glass Co., Ltd.', 'RavenWindow', 'View Inc.', 'Pleotint LLC', 'Innovative Glass Corp.', 'Gauzy Ltd.', 'Hitachi Chemical Co., Ltd.', 'Kinestral Technologies, Inc.', 'Polytronix, Inc.', 'Switch Materials Inc.', 'Vision Systems', 'EControl-Glas GmbH & Co. KG'

What is the key driver of Global Smart Glass Market?

To differentiate their products from the competition, many multinational vehicle manufacturers are focusing on incorporating contemporary ideas into their vehicles. Due to the increasing purchasing power of consumers over the past ten years, consumers have insisted on opting for premium features in their vehicles. The use of switchable glass is one such design choice that has flourished in the car sector. In addition to windows, rear-view mirrors, windscreens, sun visors, sunroofs, and panoramic view windows, they are used in glass panels for these items. These glass panels help in maintaining temperature and privacy in the car apart from controlling the transmission of light into the vehicle's chamber. These qualities improve passenger comfort and vehicle energy efficiency.

What is the key market trend for Global Smart Glass Market?

Ongoing construction activities and expanding infrastructure projects that allow the installation of smart glass in various residential and commercial complexes is one of the primary reasons driving the market growth. These items have energy-saving potential, contributing to a reduction in energy used by Heating, Ventilation, and Air Conditioning (HVAC) Systems. As a result of growing environmental concerns, the government has implemented several green building initiatives, which have increased the demand for products to reduce the overall carbon footprint. The market is expanding as a result of manufacturers including smart glass in sun visors, sunroofs, windscreens and rear-view mirrors as a result of significant expansion of the automotive industry and increasing demand for premium automobiles.

Which region accounted for the largest share in Global Smart Glass Market?

Europe holds the largest share of the global smart glass market. The growing interest of architects and designers in renovating and adapting existing infrastructure is responsible for the growing demand for products in this sector. The expansion of the car industry in the region, where switchable glass is used for high-end features such as sunroofs and anti-glare side mirrors, also contributes to demand.

Smart Glass Market Size, Share, Growth Analysis, By Type(Monocular Smart Glasses, Binocular Smart Glasses, Immersive Smart Glasses, and Audio Smart Glasses), By Tinting Technology(Polymer-Dispersed Liquid Crystals, Electrochromic (EC), Photochromic, Suspended Particles Device (SPD)), By Connectivity(Bluetooth, HDMI, and USB), By Operating System(Android, Linux, and Others), By Application(Education, Gaming, Healthcare, Industrial), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25K2070 | Region: Global | Published Date: July, 2024
Pages: 157 | Tables: 66 | Figures: 75

Smart Glass Market News

In October 2023, Guardian Industries Holdings, LLC launched their SunGuard SNX 70+. It is a triple silver-coated glass that has a visible light transmission of 68% and a solar heat gain coefficient of 0.28 when applied to Guardian UltraClear low-iron glass.
In February 2023, AGC Inc. and Saint-Gobain collaborated. The goal of this partnership was to design a flat glass line that can minimize CO2 emissions significantly.
In May 2022, AGC, Inc. manufactured a Low-E coating-based light-control panoramic roof. It will be incorporated in Toyota Motor Corporation’s LEXUS RZ.

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Global Smart Glass Market size was valued at USD 5.66 Billion in 2022 and is poised to grow from USD 6.24 Billion in 2023 to USD 13.68 Billion by 2031, growing at a CAGR of 10.3% in the forecast period (2024-2031).

The prominent players of the market are focusing on business tactics like mergers, partnerships, and acquisitions of their businesses. However, they are also developing advanced smart glasses for attracting a wider customer base and gain a competitive edge in the market. The competition in the market is extremely intense. But technological advancements are enabling companies to save time and expense while increasing efficiency. These factors are expanding the progression of the smart glass market globally. 'Vuzix Corporation (USA) ', 'Google (USA) ', 'Microsoft Corporation (USA) ', 'Sony Corporation (Japan) ', 'Epson Corporation (Japan) ', 'Kopin Corporation (USA) ', 'Osterhout Design Group (USA) ', 'Recon Instruments (Canada) ', 'Magic Leap (USA) ', 'Optinvent (France) ', 'Atheer (USA) ', 'ODG (USA) ', 'North Inc. (Canada) ', 'RealWear (USA) ', 'Lumus Ltd. (Israel) ', 'Seiko Epson Corporation (Japan) ', 'Solos Technology Ltd. (USA) ', 'ThirdEye Gen Inc. (USA)'

Growing inclination toward windows, sunroofs, and mirrors for enhancing the appearance of automobiles will further propel the demand for these high-end glasses. It offered features like tinting and dimming, improving the overall driving experience and increasing energy efficiency by reducing the need for air conditioning.

Increasing Emphasis on Integration of IoT (Internet of Things): The rise in the integration of IoT technologies to enhance automation and connectivity is creating lucrative opportunities for the growth of the Smart Glass Market. Such integration of technologies enables controlling smart glass through mobile devices, sensors, or other smart building systems.

North America is dominating the market with the largest market revenue. This growth is attributed to the innovations in technologies and collaborations of companies in the region. Furthermore, the rising popularity of smart glasses among athletes and fitness enthusiasts in countries like US and Canada is also increasing the demand. Everysight Raptor and Solos Smart Glasses have been particularly designed for cyclists, runners, and triathletes. This is because these glasses assist them to reach their full potential with real time display of information like average speed, heart rate, and more. The strong presence of many prominent market players, like Amazon Inc. and Bose Corporation, is also creating lucrative growth opportunities for the market.

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What is the global market size of Smart Glass Market?

Who are the key vendors in the Smart Glass Market?

What is the key driver of Smart Glass Market?

What is the key market trend for Smart Glass Market?

Which region accounted for the largest share in Smart Glass Market?

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