Global Smart Glass Market Size Was Worth USD 3.89 Billion in 2020 and Is Projected to Grow to USD 7.96 Billion by 2026

Global Smart Glass Market Size Was Worth USD 3.89 Billion in 2020 and Is Projected to Grow to USD 7.96 Billion by 2026

Octomber 04, 2021, New York, USA -  Smart Glasses: Introduction

Smart Glass can be described as a type of electrically active Glass that allows creating "intelligent segments" within a specific region. Smart Glass, also referred to as switchable Glass, light control glass or privacy glass, is a type of glazing or Glass with properties for light transmission that alter with variations in the intensity of lighting, voltages, as well as the amount of heat that is applied.

The transparency of Glass varies from transparent product to opaque or translucent and vice versa, providing the privacy you desire and also reducing energy costs for commercial and residential buildings. Glass is used in many different applications, including architecture and construction as well as aircraft, automotive, electronics, and many more.

The Global Smartglasses Market Forecast & Overview:

The market for Smart Glass was worth US$ 3.89 billion by 2020. It is predicted to reach the figure of USD 7.96 billion in 2026 at a CAGR of 12.5% over the forecast time.

The growing applications of smart glasses in transportation have created a massive demand for smart glasses. Smart glasses installed in automobiles can make vehicles' cabins more comfortable by providing 98% U.V. protection and 40% solar reduction. 

As with Boing and Airbus, aerospace companies are using smart glass technology, which is integrating into IoT systems. For instance, the Boeing 787 Dreamliner aeroplane employs electrochromic windows that turn completely opaque at the touch of one button. This is becoming more popular in the world of private and luxury aircraft makers across the world, opening new possibilities in the marketplace.

In May of 2020, The Click Materials, a Vancouver-based company that develops "smart glass", has signed a major collaboration together with one of the largest producers of window frames for your home, Cardinal Glass, in order to compete with the billion-dollar-backed View Inc. Click Materials stated that its windows could cut down on cooling and heating costs by as much as 50%, and is able to achieve these reductions while reducing manufacturing costs by up to 60%.

Market Trend and Dynamics of the Global Smartglasses Market:

Smart Glass is now an extensive application, especially in the automotive sector as well as in sunroofs and exterior and interior automatic reverse-view mirrors that dim. Smart glasses are used in the top automobile manufacturers, including BMW as well as Mercedes. Mercedes-Benz uses SPD-SmartGlass technology, with the option of modern Magic Sky Control panoramic roof in its S-Class Coupe and other variants of the S-Class. Some of the advantages of the SPD-SmartGlass technology include impressive energy efficiency inside the vehicle as well as U.V. protection, glare reduction as well as noise reduction and the consumption of fuel.

Recent developments have been seen in smart Glass, which is currently employed to promote new launches, including Jaguar Land Rover, which used it to launch the F-Type as well as Rolls Royce. Customers can use two of the most coveted switchable glass features to maximum effects by combining switchable technology with a projection application.  

Smart Glass is also used in trains. For example, the Monorail train operating located in South Korea has windows that automatically fog as it passes by the homes that are close next to the train. The Glass is formed due to the windows' light transmission characteristics are altered when applying heat, voltage or light onto the window.

Smart Glass allows drivers are able to modify the quantity of sunlight entering the car at the press of the button. The size of the windshield and the windows are adjusted to meet the needs of the driver as well as the passengers. Additionally, incremental adjustments to tint are also allowed. Smart Glass allows for driving that is now safer because of lower glare, while comfort is improved due to better functioning of air conditioning as light influx decreases.

The increasing applications of transportation have created an enormous demand for smart Glass. It is expected that smart glasses that are installed in vehicles will provide 40% solar reduction and 98% U.V. protection for making the cabins of vehicles more comfortable.

The Key Market Segmentation of the Global Smartglasses Market: 

Global Smartglasses Market can be divided into Product Types, Technology, End-User, Application and Geographical landscapes, etc. 

Smartglasses Market Segmentation By Product Type:

Electrochromic

Suspended Particle Device (SPD)

Liquid Crystal

Passive (Thermochromics & Photochromic)

Other Types (Hybrid, Photovoltaic)

Smartglasses Market Segmentation By Technology:

Active Glass:

Electrochromic

Suspended Particle Device (SPD)

Polymer Dispersed Liquid Crystal (PDLC)

Others

Passive Glass:

Photochromic

Thermochromic

Others

Smartglasses Market Segmentation By End-User:

Automotive

Architectural (Residential & Commercial Buildings)

Avionics

Other End Users

Smartglasses Market Segmentation By Application:

Construction & Architecture

Transportation

Electronics

Others

Smartglasses Market Segmentation By Geographical Landscape:

North America

Europe

Asia Pacific

South America

The Middle East and Africa

Major Key Players in the Global Smartglasses Market Are:

AGC Inc.

ChromoGenics

Corning Incorporated

Gauzy Ltd.

Gentex Corporation

Nippon Sheet Glass Co., Ltd.

PPG Industries, Inc.

RavenWindow

Guardian Industries

Kinestral Technologies, Inc.

Research Frontiers Inc.

VELUX Group

View, Inc.

Vision Systems

Smart Glass Market Report Scope 

Saint-Gobain S.A.

Showa Denko Materials Co., Ltd.

Smartglass International Limited

The Covid-19 Impact Analysis:

The COVID-19 market has led to interruptions to the market for smart Glass. The market studied was heavily affected by the drop in construction activity and disruptions to supply chains. The emergence of the COVID-19 pandemic has had a significant impact on the construction of commercial and residential structures in 2020. The result is that construction projects are stopped or delayed in the short term. 

The Global Smartglasses Market Report Highlights:

Smart Glass is now one of the region's most popular building materials. One reason for its increasing popularity is because it's a multi-purpose construction material that architects can use for a variety of different uses.

Smart glass demand is growing because of the rising concern about energy consumption in buildings, particularly in the commercial industry. Based on the Department of Energy (DOE) that buildings account for 40 percent of total energy usage in the United States and about 70% of electricity consumption. Windows are often regarded as the most energy-efficient components of a building. They account for around 40% of total energy consumed for heating and cooling and lighting (as natural light filtered by shades must be replaced with artificial light sources, as per the California Energy Commission). These factors will likely influence the demand for smart Glass in the region.

January 2021- Corning Incorporated stated that Lava would be India's first mobile device company that would sell at a rate of the price of Rs. 5,499 military-grade smartphones. The smartphones will be focusing on Gorilla Glass 3. The smartphone is scheduled to launch in January; the Z1 phone is part of the new collection of recently launched Lava smartphones that include those with the Z2, Z4, and Z6 smartphones, which all feature Gorilla Glass 3, and are an entry point for a lot of Indian customers who want to switch from a feature phone an actual smartphone.

January 2021- Research Frontiers has designed and patented the SPD-Smart light control film, and it is an essential part of SPD-SmartGlass products. This film lets users quickly, accurately and continually manage the colour of plastic or glass goods, whether manually or automatically, with the press of one button. Products that use Research Frontiers' smart glass technology are used in thousands of aircraft, cars, vessels, trains, homes, museums, offices and many other structures.

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