Smart glasses are dynamic, dimmable or switchable glasses which changes light transmittance and thermal properties of windows on the basis of light, heat or voltage applied. These windows are widely used in transportation and construction segments.
The major factor fuelling the growth of global smart glass and window market is increasing demand for energy efficient products in construction sector. Moreover, smart windows ensure fuel efficiency and passenger comfort and are widely utilized in automotive, aircraft and marine among others. In addition, new technological advancement in terms of structural design is likely to create further growth opportunity for the market. However, high price of smart glasses is expected to hinder the market for smart glass and window during the forecast period from 2015 to 2021 but is expected to cater developed market in positive oriented manner.
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By technology, the market is divided broadly into two major segments, active and passive. The active segment has been further classified into polymer dispersed liquid crystals (PDLC), suspended particle device (SPD), electrochromic and others. Active smart glass and window market held the largest share of global smart glass and window market in 2014. The major reason is attributed to wide implementation of these glasses in transportation and construction segments due to their simplified operation. Moreover, SPD smart windows do not create hazy appearance and are capable of preventing transmission of light up to 99.5%. Thus these glasses have potential applications in airplanes and automobiles. The passive smart glass and window segment is further segmented into passive photochromic and passive thermochromic. Due to the increasing demand of passive smart windows in power generation and some parts of construction sector, this market is anticipated to grow at a subsequent rate during the forecast period.
In terms of application, market is divided into four segments: automotive, aircraft, construction and marine. Automotive sector contributed to the largest market share in 2014, owing to rising demand for user comfort and fuel efficacy. Moreover, the construction sector held the second largest market share in 2014. The major reason is attributed to increasing demand for efficient consumption of energy in residential and corporate buildings.
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The global smart glass and window market has been segmented broadly into four regions: North America, Europe, Asia Pacific and RoW (Rest of the World). In terms of revenue, North America acquired the largest share of the market in 2014 accounting for 31.8% of the market share. Rapid technological investment, supportive government mandates and demand for energy and fuel efficiencies can be attributed to potential utilization of smart glass and window in this region.
Some of the leading players in the smart glass and window market are Research Frontiers, Inc.(U.S.), View Inc.(U.S.), Pleotint Llc.(U.S.), Asahi Glass Co., Ltd.(Japan), Compagnie de Saint-Gobain S.A.(France) and Hitachi Chemical Co., Ltd.(Japan).
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