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2020

Smart Windows Market

Smart Windows Market Size, Share, Competitive Landscape and Trend Analysis Report by Technology, Type, Application : Global Opportunity Analysis and Industry Forecast, 2019-2026

SE : Emerging and Next Generation Technologies

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Author's: Avinash Savekar and Asavari Patil | Sonia Mutreja
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Smart Windows Market Outlook - 2026

The global smart windows market size was valued at $3.91 billion in 2018, and is projected to reach $8.97 billion by 2026, registering a CAGR of 11.4% from 2019 to 2026. Smart window or switchable window are glass products whose light transmission properties are changed when voltage, light or heat is applied. Usually, the glass changes from translucent to transparent, blocking some (or all) wavelengths of light to let light pass through. When smart glass is installed, it creates climate adaptive building shells, with the ability to save heating cost, air-conditioning, and lighting and avoid the cost of installing and maintaining motorized light screens or blinds or curtains. Blackout smart glass blocks 99.4% of ultraviolet light, reducing fabric fading; for SPD-type smart glass, this is achieved in conjunction with low emissivity coatings.

The smart windows are installed in the building area, which creates the capability to save heating rate, environment or weather adaptive building shells, and air-conditioning. The smart windows are majorly used in automotive industry, commercial buildings as well as personal property buildings. The main fields that smart windows manufacturers are interested in are the automotive industry, commercial buildings and personal property buildings. Increase in demand for smart glass-based products, stringent regulations by government, reduction in expenditure on air-conditioning, heating, and lighting, and smart glass influencing the automotive and aviation sector are some of the key drivers that fuel the growth of the global smart windows market. However, critical aspects of smart windows include lack of awareness, material costs, installation costs, electricity costs and durability, as well as functional features such as the speed of control, possibilities for dimming, and the degree of transparency. The new upcoming technologies along with advancement in the functions of smart windows are expected to fuel the market growth during the forecast period.

Smart Windows Market


 

North America garnered the highest revenue in the smart windows market. Often, the manufacturer of smart windows offers very low pricing to entire adopters but gains very poor success. The current volume is expected grow 3 or 4 times per annum for a few years before the capacity is saturated that generates a need for new investment. This region has also considered the cost as its prime concern. Responsible players have been dragged into View Inc.’s low pricing strategies just to remain “in the game”.

Smart Windows Market
By Technology
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Electrochromic would exhibit the highest CAGR of 16.3% during 2019-2026.

Factors such as surge in demand for products developed using smart glass in the construction sector, due to their efficient energy consumption capability. In addition, the rigorous government regulations to control risk-oriented incidents, and features of smart glass influencing automobiles industry act as major drivers for the smart windows market globally. However, lack of awareness on long-term benefits of smart windows act as a major barrier, which hampers the market growth to a certain extent. Furthermore, lower prices of advance materials in smart windows are expected to offer lucrative smart windows market opportunities globally. Owing to surging penetration of luxury automobile in Asia-Pacific along with elevated income levels are major drivers for electrochromic technology that are expected to boost the smart windows market growth in future.

Smart Windows Market
By Type
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Self Repairing would exhibit the highest CAGR of 14.7% during 2019-2026.

Segmentation

The smart windows market is segmented by technology, type, application, and region. Based on technology, the market is divided into suspended particle devices light modulator, polymer dispersed liquid crystal devices scanner, and electro chromic. The suspended particle devices light modulator segment dominated the smart windows market in terms of revenue in 2018, whereas electrochromic segment is expected to grow at the highest CAGR from 2019 to 2026. Based on type, it is classified into OLED glass, self-dimming window, and self-repairing. By application, it is categorized into residential, commercial, industrial, and transport. The transport segment dominated the smart windows market in terms of revenue in 2018, whereas commercial segment is expected to grow at the highest CAGR from 2019 to 2026. Based on region, the smart windows market analysis is done across North America, Europe, Asia-Pacific, and LAMEA. North America is the key region in terms of revenue generator in 2018, Europe is expected to grow at the highest CAGR during the forecast period.

Smart Windows Market
By Application
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Commercial would exhibit the highest CAGR of 14.0% during 2019-2026.

Top Impacting Factors

The factors such as surge in demand for products developed using smart glass in the construction sector, rigorous government regulations to control risk-oriented incidents, features of smart glass influencing automobiles industry, long-term benefits of smart windows, and reduced prices of advance materials are expected to significantly affect the growth of the global smart windows market. These factors are anticipated to either drive or hamper the smart windows market growth.

Competitive Analysis

The key players profiled in the report include Pleotint LLC, SAGE Electrochromics, Inc, Research Frontiers Inc, Polytronix, Inc, Gentex Corporation, Stellaris Corporation, ChromoGenics, Innovative Glass Corporation, Smart Windows Colorado, and View, Inc. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their market penetration. For instance, Gentex Corporation entered into a partnership with Fingerprint, to bring iris-scanning technology in the automotive industry. The aim of this partnership is to make advancement in vehicle-integrated biometrics systems to authenticate the driver and to deliver custom security.

Smart Windows Market
By Region
2026
Europe 
North America
Asia-Pacific
LAMEA

Europe would exhibit the highest CAGR of 13.3% during 2019-2026.

Key Benefits for Stakeholders:

  • This study includes the analytical depiction of the global smart windows market forecast along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information regarding the key drivers, restraints, and opportunities in the smart windows market.
  • The smart windows market growth is quantitatively analyzed from 2019 to 2026 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the smart windows industry.
  • The report includes the smart windows market share of key vendors and smart windows market trends.  

Smart Windows Market Report Highlights

Aspects Details
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By Technology
  • Suspended Particle Devices Light Modulator
  • Polymer Dispersed Liquid Crystal Devices Scanner
  • Electrochromic
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By Type
  • OLED Glass
  • Self-Dimming Window
  • Self-Repairing Windows
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By Application
  • Residential
  • Industrial
  • Commercial
  • Transport
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

SAGE Electrochromics, Inc., Pleotint LLC., Stellaris Corporation, View, Inc., Gentex Corporation, ChromoGenics, Smart Windows Colorado, Research Frontiers Inc., Innovative Glass Corporation, Polytronix, Inc.

Analyst Review

According to the insights of the CXOs of leading companies, the smart windows market is projected to depict a prominent growth during the forecast period, owing to various factors, such as increasing demand for smart glass-based products, stringent regulations by government, reducing expenditure on air-conditioning, heating and lighting and smart glass influencing the automotive and aviation sector are some of the key drivers raising the growth of global smart windows market.

Increase in demand for smart glass in automobile is fueling the growth of the global smart windows market due to adoption of green initiatives, such as eco-friendly and green buildings, non-electric technologies, such as thermochromics and others, along with government support and initiatives across the globe.

Polymer dispersed liquid crystal smart glasses are made by inserting a thin layer of liquid crystals between two transparent electrical conductors and laminating this between two layers of glass. Unlike electrochromic glass, PDLC smart glass is translucent until an electric current is passed through it. The only difference lies in the switching rate that is faster by few seconds in the PDLC glass as compared to electrochromic glass and other technologies. The degree of transparency can be controlled by the applied voltage.

The key players profiled in the report include Pleotint LLC, SAGE Electrochromics, Inc, Research Frontiers Inc, Polytronix, Inc, Gentex Corporation, Stellaris Corporation, ChromoGenics, Innovative Glass Corporation, Smart Windows Colorado, and View, Inc.

 

Author Name(s) : Avinash Savekar and Asavari Patil | Sonia Mutreja

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Smart Windows Market

Global Opportunity Analysis and Industry Forecast, 2019-2026