Smart Glass Market Size Worth USD 26.65 Billion in 2032 | Emergen Research

Vancouver, Dec. 04, 2023 (GLOBE NEWSWIRE) -- The global Smart Glass Market is projected to reach USD 26.65 billion by 2032, according to a recent report by Emergen Research. Renewed confidence of consumers within the economy coupled with greater spending boosted the sales of light-and heavy-duty vehicles. The demand for automotive glass is driven by several factors. The replacement volume of glasses is likely to grow with rise in the total vehicle population and kilometers driven. Severe weather and road conditions can also boost the demand for automotive glass repair and replacement. However, buyers tend to defer from fixing minor injury to a windscreen till a vehicle is held up for sale or scrutiny. Therefore, sales of recent vehicles, turnover of used vehicles, and laws for vehicle scrutiny influence the demand for smart glasses in the automotive sector on a global scale.

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The usage of smart glass is ideal for aviation, automobile and the other transportation applications requiring heat and glare management. Throughout the automotive sector, smart glass is employed in applications like windows, rearview mirrors, sunroofs, and windshields. Smart glass provides protection from harmful ultraviolet (UV) rays by reducing glare, assists in heat management within vehicles, as well as reduce energy consumption, making the vehicle efficient all throughout.

While the smart glass technology was introduced to the market almost a decade back, it's solely within the last few years that makers have secured the funding and support necessary to initiate mass production. With the introduction of volume production units, makers are likely to attain scalability, which, in turn, can lower the price. With the increasing volume of production, the price of smart glass is anticipated to lessen by around 35-42%.

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Scope of Research

MAJOR COMPANIES and Market Share Analysis

The market for Smart Glasses is mainly comprised of traditional players. They invest heavily in research and development which often becomes a barrier for new entrants in the market. The manufacturers involved in the Smart Glasses market are desegregated across the value chain. Some of the prominent players in the Smart Glasses market include:

• Asahi Glass Co., Ltd. (AGC)
• ChromoGenics AB
• Corning Incorporated
• DuPont
• Gentex Corporation
• Guardian Industries Corp.
• Innovative Glass Corporation
• Kinestral Technologies, Inc.
• Merck KGaA
• RavenBrick LLC
• Scientistry, Inc.

Strategic Development

NSG Group made a joint development agreement with Ubiquitous Energy, one of its subsidiary as well as a leading solar technology organization in May 2019. The agreement is mainly targeted towards developing Ubiquitous Energy’s ClearView Power technology into architectural smart glass to enhance the potential to produce solar electricity for buildings.

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Key Highlights From The Report.

• In November 2018, View Dynamic Glass, a US-based smart glass company, received one of the biggest VC investments of USD 1.1 billion from SoftBank Vision Fund. This is to manufacture “dynamic” glass windows that can change the tint to let in the right amount of natural light without obstructing views.
• The electrochromic smart glass technology dominated the market in 2019. The electrochromic technology has been utilized in rearview mirrors across the automotive sector. With the recent advancements, it is additionally found suitable for windows as well as sunroofs. Although the electrochromic smart window technology isn't used in abundance within the design or building applications, it's expected to revolutionize the design sector in the upcoming years, accounting for a prominent share of the market by 2025. Commercial building especially corporate and government bodies are expected to be early adopters of the electrochromic technology.
• The transportation application is anticipated to have the largest share of the smart glass market throughout forecasted period, as several automobile makers are incorporating smart glass materials in their vehicle to get benefited from its remote access capability, dynamic light emission adjustment properties and antiglare property.

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For the purpose of this report, Emergen Research has segmented into the global Smart Glasses Market on the technology, application and region:

• Technology Outlook (Revenue, USD Billion; 2019-2032)

• Electrochromic
• PDLC
• SPD
• Thermochromic
• Photochromic

• Application Outlook (Revenue, USD Billion; 2019-2032)

• Architectural
• Transportation
• Consumer Electronics
• Power Generation
• Others

• Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. UK
    2. Germany
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • MEA
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

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