Automotive Smart Window Market Expected to Reach $12.3 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Automotive Smart Window Market,By Technology (Electrochromic (EC), Polymer Dispersed Liquid Device (PDLC), Suspended Particle Device (SPD)), By Type (OLED Glass, Self-Dimming Window, Others), By Vehicle Type (Light Commercial Vehicles, Medium And Heavy Commercial Vehicles, Passenger Cars): Global Opportunity Analysis And Industry Forecast, 2023-2032". The automotive smart window market was valued at $1.7 billion in 2022, and is estimated to reach $12.3 billion by 2032, growing at a CAGR of 22.5% from 2023 to 2032.

The market for Automotive Smart Windows is expanding rapidly as more sectors need accurate timing solutions. The primary reason for this spike is the increasing adoption of cutting-edge technologies such as 5G, the Internet of Things (IoT), and driverless cars, all of which involve highly precise and synchronized Automotive Smart Windows. Major developments in an array of timing technologies, including atomic clocks, quartz crystal oscillators, and Micro-Electro-Mechanical Systems (MEMS)-based solutions, are being implemented in the Automotive Smart Window industry.

The automotive smart window industry has seen a surge in applications, with the integration of cutting-edge technologies like smart car windshields and car smart glass. These innovative solutions extend beyond conventional auto glass functionalities, offering dynamic adjustments in light transmission properties. Auto windscreens equipped with smart glass technology enhance the driving experience by providing passengers with customizable control over transparency, contributing to improved comfort and safety. The applications of smart car windshields and car smart auto glass are not only limited to aesthetic appeal but also encompass energy efficiency, UV protection, and advanced visibility features, making them integral components in the evolution of modern vehicles. As the automotive industry continues to prioritize technological advancements, the multifaceted applications of automotive smart windows redefine the standards for innovation and performance in the automotive sector.

The automotive, aerospace, and telecommunications sectors, among others, are at the forefront of technical innovation in today's world, setting the bar high for applications. The development of Automotive Smart Windows is closely linked to the necessity of fulfilling and exceeding these demanding standards. With the widespread adoption of Industry 4.0 principles and the growing dependence on linked systems across many industries, the need for exact timing in industrial operations becomes even more crucial. The market for automotive smart windows is expected to rise steadily and significantly as long as technology breakthroughs keep coming. Beyond innovation alone, Automotive Smart Windows are essential because they are crucial to temporal precision, which is necessary for a wide range of technology applications to perform seamlessly across several sectors. This emphasizes how important Automotive Smart Windows are as a vital element in the dynamic environment of technology integration and industrial advancement.

The automotive smart window market is segmented on the basis of technology, type, vehicle type, and region. By technology, the market is classified into electrochromic, polymer dispersed liquid device, and suspended particle device. The suspended particle device (SPD) segment to maintain its lead position during the forecast period. On the basis of type, the market is divided into OLED glass, self-dimming window, and others. The OLED glass segment to maintain its lead position during the forecast period. Depending on vehicle type, it is categorized into light commercial vehicles, medium & heavy commercial vehicles, and passenger cars. The passenger cars segment to maintain its lead position during the forecast period.

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 contributed the largest automotive smart window market size in 2022. However, between 2022 and 2032, the automotive smart window market in Asia-Pacific is expected to grow at a faster rate as compared to other regions. This is attributed to increase in automotive smart window market demand from emerging economical countries such as India, China, Japan, Taiwan, and South Korea.  

KEY FINDINGS OF THE STUDY

• As per the Automotive Smart Window market analysis, the market is expected to grow significantly in the coming years, driven by surge in demand for electric and hybrid vehicles and high demand from passenger car segment.
• Asia-Pacific serves as the top investment pocket for the automotive smart window market, owing to presence of emerging economies in the region such as India and China, which provide lucrative opportunities for the market expansion.
• The market is highly competitive, with several major players competing for market share. The competition is expected to intensify in the coming years as new players enter the market. The North America region holds the major automotive smart window market share. Growing sales of sports, utility, and luxury vehicles would add to the automotive smart window market growth. Leading players in the segment are already integrating smart windows into their mass-market models.

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, product update/development, investment, and acquisition to expand their foothold in the Automotive Smart Window industry.