Press Release

Global Smart Glass Market to Flourish at a CAGR of Around 15.12% During the 2024-30 Forecast Period

The Global Smart Glass Market size was valued at USD 6.2 Billion in 2023 & is anticipated to grow at a CAGR of about 15.12% during the forecast period of 2024–30, cites MarkNtel Advisors in the recent research report. The market expansion is attributed to increased government investment in renewable energy sources like solar power, driving demand for smart glass due to its application in photovoltaic panels. In addition, the surge in demand for smart devices and electronic gadgets worldwide, coupled with a growing preference for green and eco-friendly buildings, along with extensive usage of smart glass in transportation sectors such as automotive, aerospace, and aviation, is fueling the growth of the smart glass industry.

Furthermore, smart glass technologies promote energy efficiency and sustainability by reducing reliance on artificial lighting, heating, and cooling systems in buildings. The ability to dynamically control solar heat gain and daylighting aids in minimizing energy consumption, resulting in cost savings and lower carbon emissions. The adoption of smart glass aligns with global efforts to address climate change and achieve sustainability objectives, which is further anticipated to enhance market growth in the forthcoming years.

Moreover, numerous large-scale projects in sectors such as commercial, automotive, and residential are anticipated to be finalized in the upcoming years, which is further projected to enhance the deployment of smart glass during 2024–2030, further states the research report, “Global Smart Glass Market Analysis, 2024.”

Global Smart Glass Market Segmentation Analysis

Architecture Segment to Hold Major Market Share

Based on the end user, the market is further bifurcated into architecture, transportation, power generation plants, consumer electronics, and others. Among them, the architecture segment is expected to hold a significant share of the market during the forecast period due to the growing requirement for innovative and energy-efficient solutions in the construction industry. Smart glass offers dynamic control over light transmission and solar heat gain, allowing buildings to optimize natural light usage and reduce dependence on artificial lighting and HVAC systems. This further aligns with sustainability goals, driving the adoption of smart glass in architectural projects.

Additionally, it is projected that the consumer electronics segment will grow rapidly by 2030 as a result of the launch and widespread use of cutting-edge smartphones and other electronic devices. This would have a positive effect on the growth & expansion of the smart glass industry globally in the years to come.

Asia-Pacific to Lead the Global Smart Glass Market

Asia-Pacific would hold a major share of the market during the forecast period due to the region's large number of manufacturing and industrial companies, strong government regulations to reduce carbon emissions in the USA and Canada, and growing awareness of sustainability among customers and businesses. Additionally, with the increasing implementation of government policies like Make in India and Made in China 2025, aimed at fostering the establishment of manufacturing plants to achieve self-sufficiency and boost exports in respective economies, there will be a rising demand for smart glass solutions to improve energy efficiency, sustainability, and functionality in the built environment.

Furthermore, governments across the Asia-Pacific region are implementing policies and regulations to promote sustainable building practices and energy-efficient technologies. Incentives such as tax rebates, subsidies, and green building certifications encourage the adoption of smart glass solutions in new construction and retrofit projects. These initiatives stimulate market growth by creating a favorable environment for investment in smart building technologies, which is anticipated to enhance the size & volume of the Asia-Pacific Smart Glass Industry during 2024–2030.

Global Smart Glass Market Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Asahi Glass Co. Ltd. (AGC Inc.), Smartglass International Ltd., ChromoGenics AB, Corning, Inc., Guardian Glass LLC., Innovative Glass Corporation, HALIO Inc., Schott AG, View Inc., Saint-Gobain SA, Merck KgaA, Research Frontiers Inc., Nippon Steel Glass (NSG) Group, and others, are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-2030?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?