Smart Window Market

The smart window technology can increase the functionality of glass by reducing noise and temperature of surroundings. Among all the sectors and industries served by smart window manufacturers, suspended particle device (SPD) has registered the highest rate of adoption. The major objective fulfilled by SPD smart window technology is to provide a cost-effective and eco-friendly window installation solution to the end users. Smart window is being rapidly adopted across major economies, the US being on top with the highest number of installations of smart windows. Smart windows are also in significant demand from media and technology industry owing to increasing rapidly developing artificial intelligence technology in combination with smart windows. These smart windows find a wide range of applications in the healthcare, defense, and entertainment industries, among others. In August 2019, SER Company became a licensee of Research Frontiers, an inventor of SPD smart glass to produce SPD-SmartGlass for the Brazilian market with SPD light-control film manufactured by Gauzy.

There has been a considerable increase in the demand for electrochromic technology smart window. In the marine sector, smart windows are integrated with augmented reality technology which is used for taking images and videos in real-time. The major factors boosting the growth of the market include growing demand for smart windows in transportation applications and use of smart windows in healthcare.

The smart window market has been broadly classified by technology and application. By technology, the smart window market has been segmented into electrochromic technology, PDLC, SPD, and photochromic. Among these, the SPD segment dominated the market in 2018, capturing nearly 33% market share and electrochromic technology segment is expected to register the highest CAGR during the forecast period. By application, the smart window market has been bifurcated into architectural & construction, transportation, automotive, aircraft, marine, Consumer goods, and power generation. The automotive segment is expected to exhibit the highest CAGR during the forecast period. However, the architectural & construction segment dominated the market in 2018.

The global smart window market comprises various manufacturers, government research firms, universities, and technical institutes that engage in developing and making advancement in the smart window industry. The major players considered in the scope of the global smart window market are Pleotint LLC, E-Chromic Technologies, Inc., ChromoGenics AB, AGC Inc., Hitachi Chemical Co., Ltd, Innovative Glass Corporation, Saint-Gobain Group, RavenWindow (RavenBrick LLC), PPG Industries, Inc., LTI Smart Glass, Inc., Kinestral Technologies, Inc., Gentex Corporation, Merck KGaA. The major players are present in North America followed by Asia-Pacific and Europe. The competition in the smart window industry is rapidly increasing owing to the entry of new players in the market serving various application areas