Smart glass is a type of glass or windows that alter their light transmission properties and appearance as a reaction to external stimuli. The stimuli can be current, sunlight or heat. Smart glass is typically manufactured with two or more than two layers of glass which are layered in between. Smart glass has found extensive applications in transportation and architectural sectors. The use of smart glass in the windows of houses and buildings is growing rapidly. Since they mostly are operated electrically, they can easily be controlled by a sunlight sensor or a smart-home system. According to the United States Department of Energy’s National Renewable Energy Laboratory (US NREL), windows with smart glasses installed could be capable saving up to 8% of the total energy consumption of a building.
Globally North America held the significant market share in the smart glass market followed by Europe and Asia-Pacific in 2015. North America is anticipated to continue its dominance throughout the forecast period. This is due to the focus and interest towards renewable energy such as solar energy in the past few years in the region. As solar power generations grows the smart glass market is also expected to grow in the region. Globally Asia Pacific is projected to be the rapidly growing region for the forecast period due to the growing economies such as China, Japan, and Korea. The growing sectors such as housing & construction, consumer electronics, transportation and the solar power generation in Asia-Pacific is expected to increase the demand for solar panels, which in turn is expected to boost the smart glass market. The market growth in North America and Europe is expected to be low since both markets are mature. North America is a hub of established industries where big players have been in service since long. This is the reason that the opportunity for growth of Smart glass in the region is limited. Similarly, in Europe, the market is also at a well-established stage, thereby projected to grow at a sluggish pace. The Smart Glass Market in Middle East & Africa is estimated to offer moderate growth opportunities, due to rising preference of consumers to renewable energy sources.
Major players operating in the smart glass market include Asahi Glass Corporation, DuPont, Research Frontiers, Saint-Gobain Group, and Smartglass International Limited.