The global smart window market (henceforth, referred to as the market studied) was valued at USD 3.97 billion in 2020 and it is expected to reach USD 6.68 billion by 2026, registering a CAGR of 9.2%, during the period of 2021-2026 (henceforth, referred to as the forecast period). The COVID-19 outbreak has affected industries across the globe. The Smart Windows industry has also been affected by the disruption in the supply chain but has been profited by the increased attention due to the subsequent rise in the Smart Home ecosystem interest in the market.
- With the number of devices per household increasing, the demand for more smart solutions in homes is expected increase as well. Such developments are driving the demand for smart window coverings that are motorized and can be controlled via mobile devices.
- Conventional curtain and drapes vendors are increasingly looking to add motorized and connected shades to their offerings to be part of the smart home technologies to attract new generation consumers. For instance, Ikea is offering smart shades and motorized blinds. Also, in July 2020, Ikea started offering voice-activated smart shades that work with Siri, Alexa, and Google Home.
- Over the coming years, voice-activated smart shades are expected to gain traction owing to the growing penetration of voice assistants in smart home technologies, and smart speakers with voice assistants are expected to be the control hubs for a major share of the smart home technologies.
- Furthermore, according to a recent study, smart home adoption is on the rise; it is found that about 40% of the US consumers have already adopted smart home devices, with smart speakers and smart thermostats being the most common products.
- Also, vendors in the market are creating offerings best suited for both smart and traditional homeowners. However, the growing adoption of these advanced curtains is expected to proliferate with the growth of smart homes. For instance, in May 2020, Xiaomi’s ecological chain enterprise Lumi United Technology announced the launch of the Aqara Smart Curtain Motor A1, and it is now available on Jingdong (JD.com). The product comes at a price point of ~USD 56.
- However, in the case of smart window coverings, the setup is motorized. Hence, different bases are to be installed prior to the attachment of the shades. Moreover, the price of motorized units is comparatively higher than that of the conventional solutions. For instance, IKEA's FYRTUR blackout roller blinds are priced at USD 154, which is significantly higher than the price of conventional roller blinds.
- Furthermore, the motorized shades can be easily damaged if proper care is not taken as compared to traditional curtains. This also adds maintenance cost to these curtains, generally consisting of replacement of slats, etc.
Key Market Trends
Motorized Drapery Systems to Hold Significant Market Share in Near Future
- Motorized drapery system offers quiet, reliable performance for applications from guest rooms and suites to lobbies, ballrooms, conference rooms, and more. Heavy-duty, quiet, high performance, and reliable are some of the essential qualities for motorized systems in the hospitality environment. These are the qualities embodied in the state-of-the-art drapery track. Motorized drapes improve safety for homes with children or pets, since there are no cords that can become entangled.
- The market is witnessing vendors operating in the market improving their product portfolio. For instance, Cube Care Company, Inc. enhanced its motorized drapery systems. WhisperTrac motorized drapery system from Cube Care Company has set the new standard for design and function. In addition to its clean, monochromatic, and European design, WhisperTrac is quiet and can bend to the industry’s tightest radius for curved conditions. Depending on the design, control, and size requirements, one can now select the best WhisperTrac model to fit the application.
- Positive developments in gear drive technology is also driving the market. For example, in October 2020, ZHAOWEI Drive announced the production of micro gear drive for different kinds of curtains on the market. They designed performance-optimized double-helical gears together with the braking system in tubular planetary gearbox to enable hands-free home automation starting from smart curtains.
- Additionally, in July 2020, Forest Group announced that it has plans for expanding its range of curtain motors with a wireless battery-powered version. Furthermore, Motorized drapes/curtains have become the new normal with the growing usage of technology in daily lives. With automation systems being integrated into modern homes, motorizing the shades is the way forward.
- With the effects of the global pandemic increasingly focusing attention on the domestic domain, motorized drapes/curtain tracking is attracting strong demand, further validating the category’s recent innovations.
Europe Expected to Dominate Market Share
- High penetration of smart home products among UK households and growing adoption of advance window covering products are some of the major factors driving the smart windows market in the United Kingdom.
- Smart Windows are enabling features such as constantly updating homeowners regarding their windows’ ‘open or close’ status. This has developed a tremendous interest in the UK market, not just because of the benefits the new technology offers to the homeowner in caring for their property, but also to the fact that they can watch over the security of their extended families’ homes too.
- Further, 75% of EU buildings are energy efficient and the drive for conservation of energy is a perfect fit with the growth of the smart window industry reducing energy consumption of air conditioning unit.
- The recent COVID-19 outbreak has effected global manufacturing, and hence the availability of cheaper imports into the United Kingdom, which could lead to increased demand for UK-produced window coverings products into the medium-term. This is also expected to boost the local manufacturing of smart window products.
- In recent years, local manufacturers have been innovating blinds & shades products with their increasing focus on fully automated products. The adoption of smart window solutions is also rising in the country as it brings home interior experience with connected shades, blinds, and curtains, which significantly enhance comfort and convenience.
- France-based Somfy, a company engaged in the motorization and connectivity of interior window coverings, exterior shading products, and access management systems, launched its new smart shading and its Sonesse ULTRA 30 WireFree Zigbee Li-Ion motor at CES 2020 in January 2020.
- Furthermore, countries like Germany, Italy, Russia, Netherlands, Switzerland, Denmark, and Sweden, among others, have witnessed a significant rise in the adoption of smart windows in recent years. The growing demand for multifunctionality products, high rate of product innovation along with features like voice assistants, are some of the major factors driving the growth of smart windows in the rest of Europe.
Though the market is fragmented and is home to numerous small and few large vendors, the product being in its initial stages of adoption in various regions of the market is open to a number of players offering their products.The vendors that are already operating in this space are looking to expand their presence and launch new solutions, along with strategical M&A activities.
- Aug 2020 - Somfy Systems Inc partnered with URC a global leader in smart home automation and control for residential and commercial applications The partnership between the firms is to create integrations between Total Control, URC’s award-winning residential and commercial automation platform, and TaHoma, a gateway hub with embedded Radio Technology Somfy (RTS) and Zigbee 3.0 radio connectivity that communicates with both new and legacy.
- July 2020 - Ikea launched motorized blinds that support voice controls via Siri, Alexa or the Google Assistant at a price point of USD 129 that are available in eight different sizes making it suitable for a wider audience.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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1.2 Scope of the Study
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Market Drivers
4.3.1 Growing Prominence of Smart Homes Drives Strong Demand for Automated Blinds and Shades
4.4 Market Restraints
4.4.1 Lack of Standards in Applications and Initial Costs
5.1.1 Motorized Roller Shades
5.1.2 Motorized Zebra Shades
5.1.3 Motorized Drapery Systems
5.1.4 Other Product Types (Includes Connectable Controllers)
5.2.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.2.3 Asia Pacific
18.104.22.168 Rest of Asia Pacific
5.2.4 Rest of the World
6.1.1 Inter IKEA Systems BV
6.1.3 Lutron Electronics Co. Inc.
6.1.4 Somfy Systems Inc.
6.1.5 Griesser AG
6.1.6 Hunter Douglas
6.1.7 The Shade Store LLC
6.2 INVESTMENT ANALYSIS
6.3 MARKET OUTLOOK
A selection of companies mentioned in this report includes:
- Inter IKEA Systems BV
- Lutron Electronics Co. Inc.
- Somfy Systems Inc.
- Griesser AG
- Hunter Douglas
- The Shade Store LLC