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A15714 | Pages: 251 | Charts: 66 | Tables: 123 |
The global automotive smart window market was valued at $1.7 billion in 2022, and is projected to reach $12.3 billion by 2032, growing at a CAGR of 22.5% from 2023 to 2032.
Automotive smart windows are glass-based products in which light transmission properties vary when voltage, heat or light is applied. In an automotive smart window, glass normally transforms from translucent to transparent by blocking numerous wavelengths of light. It also blocks 99.0% of ultraviolet light by reducing fabric fading.
Growth of the global automotive smart window market is anticipated to be driven by factors such as surge in demand for smart window from the transportation sector. These windows play a crucial role in reducing costs for heating, air conditioning, and lighting, which drive the market growth. In addition, smart windows help in blocking ultraviolet light, which boosts product demand and contributes toward the overall market growth. However, high cost of smart windows acts as a major restraint for the global automotive smart window industry. On the contrary, surge in demand for solar energy solutions provided by smart windows is expected to create lucrative opportunities for the automotive smart window market.
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The automotive smart window market is segmented into Technology, Type and Vehicle Type.
[TECHNOLOGYGRAPH]
By technology, the market is classified into electrochromic, polymer dispersed liquid device, and suspended particle device.
[TYPEGRAPH]
On the basis of type, the market is divided into OLED glass, self-dimming window, and others.
[VEHICLETYPEGRAPH]
Depending on vehicle type, it is categorized into light commercial vehicles, medium & heavy commercial vehicles, and passenger cars.
[REGIONGRAPH]
Region wise, the automotive smart window market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America dominated the Automotive Smart Window Market share in 2022 and is projected to register significant growth rate during the forecast period owing to growth of the commercial sector. However, Asia-Pacific is expected to witness significant growth by the end of the forecast period, followed by LAMEA.
Automotive smart windows' defensive features are essential for preserving the interiors of cars. These windows help lessen the negative impacts of UV radiation, such fabric fading, by filtering out a significant amount of UV light. This UV-blocking technology improves the overall driving experience for passengers as well as the durability of interior components. The worldwide automotive smart window market has significant challenges due to the high cost of smart windows, despite their many benefits. Widespread adoption of this cutting-edge technology has been hampered by the initial investment needed to install it. Experts in the field predict that the cost barrier will eventually go down as economies of scale and technical developments take hold.
The automotive smart window industry has witnessed a transformative evolution with the integration of cutting-edge technologies like AR car smart glass in smart car windshields and auto glass. These innovations redefine the driving experience by providing dynamic adjustments to light transmission, offering passengers enhanced control over privacy and comfort. Auto windscreens, equipped with AR smart auto glass, exemplify the industry's commitment to safety and technology convergence. The integration of AR smart glass in auto glass not only ensures a seamless transition from translucent to transparent states but also contributes to energy efficiency and UV protection. As the automotive sector continues to prioritize advancements in smart technologies, the smart car windshield and auto windscreens equipped with AR car smart glass are poised to play a pivotal role in shaping the future of automotive design and driving dynamics.
The automotive smart window market demand has expanded due to the increase in demand for environmentally friendly solutions. Smart windows' incorporation of solar energy solutions is in line with the worldwide movement towards environmentally and energy-efficiently designed technology. automobile smart windows are positioned as a major participant in the larger landscape of environmentally aware automobile advances as a result of the increased demand for sustainable solutions. The market for vehicle smart windows is expected to increase significantly since the transportation industry is becoming more and more interested in cutting-edge, energy-efficient solutions. The industry has the ability to address environmental issues and provide better driving experiences, which places it as a major participant in the future of automotive design and technology, even though cost is still a hurdle.
The key players profiled in the report include AGC Inc., Gentex Corporation, Corning Incorporated, Saint Gobain, Pleotint LLC, PPG Industries, Hitachi Ltd., RavenWindow, View, Inc. and Research Frontiers Inc. Market players have adopted various strategies such as product launch, collaboration, partnership, agreement, expansion, and acquisition to expand their foothold in the Automotive Smart Window industry.
The automotive smart window market is expected to witness notable growth owing to surge in demand for electric and hybrid vehicles and high demand from passenger car segment.
Moreover, lower prices of advanced materials and high demand from Asia-Pacific are expected to provide lucrative opportunities for the growth of the market during the forecast period. On the contrary, high product cost and capital investment for r and d limit the growth of the automotive smart window market.
The global Automotive Smart Window market is highly competitive, owing to the strong presence of existing vendors. Vendors in the Automotive Smart Window market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to market demands. The competitive environment in this market is expected to worsen as technological innovations, product extensions, and different strategies adopted by key vendors increase.
Top market players have adopted various strategies, such as product development, acquisition, innovation, partnership, and others to expand their foothold in the Automotive Smart Window market.
Key Benefits For Stakeholders
Key Market Segments
Key Market Players