Smart window are the glasses with the incredible feature of absorbing Ultraviolet light, controlling heat, and getting their transmission properties changed from opaque to translucent to transparent under the influence of voltage, heat or light applied. The smart windows market is expected to witness notable growth in the coming years due to increase in demand for smart glass-based products in various industrial sectors such as automotive, aerospace, marine, commercial & residential buildings, and others. Also, these have helped reduce the expenditure on air-conditioning, lighting, heating along with interior objects such as blinds, curtains, and others.
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. The transportation and aerospace sectors are anticipated lead the application segment, contributing to high market revenue. Commercialization of suspended particle device (SPD) products has revealed several opportunities, such as fixing of smart glass in side-view windows, rear-view mirrors, automobile doors, and in sunroofs.
Factors such as surge in demand for products developed using smart glass in the construction sector, due to their efficient energy consumption capability, fuel their demand in the smart windows market. In addition, 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.
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 the 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 the 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 was the highest revenue generator in 2018, whereas Europe is expected to grow at the highest CAGR during the forecast period.
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.
KEY BENEFITS FOR STAKEHOLDERS
GLOBAL SMART WINDOWS MARKET SEGMENTATION
BY TECHNOLOGY:
BY TYPE:
BY APPLICATION
BY REGION
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. The transportation and aerospace sectors are anticipated lead the application segment, contributing to high market revenue. Commercialization of suspended particle device (SPD) products has revealed several opportunities, such as fixing of smart glass in side-view windows, rear-view mirrors, automobile doors, and in sunroofs.
Factors such as surge in demand for products developed using smart glass in the construction sector, due to their efficient energy consumption capability, fuel their demand in the smart windows market. In addition, 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.
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 the 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 the 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 was the highest revenue generator in 2018, whereas Europe is expected to grow at the highest CAGR during the forecast period.
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.
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 lithography metrology equipment 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 industry.
GLOBAL SMART WINDOWS MARKET SEGMENTATION
BY TECHNOLOGY:
- Suspended Particle Devices Light Modulator
- Polymer Dispersed Liquid Crystal Devices Scanner
- Electro Chromic
BY TYPE:
- OLED Glass
- Self-Dimming Window
- Self-Repairing
BY APPLICATION
- Residential
- Commercial
- Industrial
- Transport
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
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: GLOBAL SMART WINDOWS MARKET, BY TECHNOLOGY
CHAPTER 5: GLOBAL SMART WINDOWS MARKET, BY TYPE
CHAPTER 6: GLOBAL SMART WINDOWS MARKET, BY APPLICATION
CHAPTER 7: GLOBAL SMART WINDOWS MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILE
Executive Summary
According to the report titled, 'Smart Windows Market by Technology, Type, and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global smart windows market size was valued at $3.91billion in 2018, and is projected to reach $8.97 billion by 2026, registering a CAGR of 11.4% from 2019 to 2026.Smart windows are glasses with an incredible feature of absorbing Ultraviolet light, controlling heat, and getting their transmission properties changed from opaque to translucent to transparent by application of voltage, heat, or light. The smart windows market is expected to witness notable growth in the coming years due to increase in demand for smart glass-based products in various industrial sectors such as automotive, aerospace, marine, commercial & residential buildings, and others. Also, these have helped reduce the expenditure on air-conditioning, lighting, heating along with interior objects such as blinds, curtains, and others.
Increase in demand for smart glass in automobile is fueling the growth of global smart windows market due to the 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 all across the globe. The transportation and aerospace sector is anticipated to come into view as a major application segment, contributing to market revenue. Commercialization of suspended particle device (SPD) products has revealed several smart windows market opportunities, such as fixing in side-view windows, rear-view mirrors, automobile doors and in the sunroofs.
Smart windows or switchable windows change in color from clear to dark by using a scientific idea called electrochromism, in which materials change color, after passing an electrical current across them. Typically, smart windows start off as a bluish color and gradually within few minutes turn transparent when the electric current passes through them, which plays a major role in adoption of smart window. With decrease in price of electrochromic materials used in smart windows, which is expected to experience robustsmart windows market growth during the forecast period.
In addition, electrochromic smart windows can change their light transmission rate according to an electrical current. It is transparent, and becomes translucent or opaque after a current is passed through, although this transition can take some time. Once, the change has been achieved, no electricity is required further to maintain that particular shade. The property of electrochromic glass begins from darkening the window or glass from the edges, moving inward, and is a slow process that takes many seconds to few minutes depending on the window size.
Asia-Pacific is estimated to be the third largest region in the smart windows market. For instance, researchers at the Shanghai University introduced the first ever smart window producing electricity. This smart window is similar to a solar panel and uses vanadium oxide to produce electricity. The market is witnessing growth in offices, residential areas, and hotels. The major concern is the conservation of energy and prevention of depletion of fossil fuels, which can be achieved by these smart windows that help in saving electricity without harming the environment and its resources, thus helping the technology obtain a huge smart windows market trends in these regions.
According to Ankit Prajapati, Lead Analyst, Semiconductors & Electronics, “The global smart windows market is expected to witness considerable growth, due to development of new technologies along with advancement in the functions of smart windows. Furthermore, surge in demand for smart glass in automobile is further contributing to the market growth, owing to growing awareness towards utilization of eco-friendly and green buildings, non-electric technologies, such as thermochromics and others, along with government support and initiatives all across the globe.”
KEY FINDINGS OF THE STUDY
- Based on technology, the suspended particle devices segment generated the highest revenue in the global smart windows market in 2018.
- Based on type, the OLED glass segment generated the highest revenue in the global smart windows market share in 2018.
- Based on application, the transport segment generated the highest revenue in the global market share in 2018.
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 adopt several strategies such as, new product launch and development, acquisition, partnership and collaboration and business expansion to increase the global smart windows market share during the forecast period.
Companies Mentioned
- Pleotint LLC
- SAGE Electrochromics Inc.
- Research Frontiers Inc.
- Polytronix Inc.
- Gentex Corporation
- Stellaris Corporation
- ChromoGenics
- Innovative Glass Corporation
- Smart Windows Colorado
- View Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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