Residential and Commercial Smart Glass – Absorbing Heat, Reflecting Convenience
Residential and commercial smart glasses are emerging as smart home solutions with their applications in perovskite-tinted windows that darken during scorching heat and turn transparent it in cold atmosphere. Trends of employing augmented reality and touchscreen technologies are gradually being registered in the books of commercial, residential, and industrial sectors to foster automation and innovation in the traditional space.
Smart Glass - Market Introduction
Smart glass is characterized by the capability to change its light transmission properties when voltage, light, or heat is applied to it. The glass turns transparent or translucent on a click of a button or on-demand though other control systems. There are certain technology types that distinguish between different types of smart glass, viz. Electrochromic, Thermochromic, Photochromic, Suspended Particle Device, and Liquid Crystal.
Electrochromic is an electronically tintable glass which can be directly controlled by occupants. The tint of an electrochromic glass is measured by the voltage applied to the glass. When Low voltage is applied, the coating becomes dark as there is a transfer of lithium ion and electrons from an electrochromic layer to other. When the voltage is removed and the polarity is reversed, it forces the electrons and ions to go back to their previous layers, which makes the glass to lighten and return to the state as before.
Thermochromic glass uses heat from direct sunlight to tint the windows and other forms. The intensity of sunlight decided the tint of the glass. More the intensity, more is the tint towards darker side.
Suspended Particle Device (SPD) technology has small light-absorbing microscopic particles. These particles allows the glass switch from all clear to dark mode in just few seconds. These suspended particle device are sandwiched between two panels of plastic or glass, which is covered with a transparent material which is conductive in nature. When electricity is applied to the SPDs with the help of the conductive layer cover, these SPDs follow up in one line and let light to run through.
The global market for residential and commercial smart glass is projected to reach approximately US$ 14 Bn by 2028, at an estimated CAGR of more than 15% over 2018-2028. The positive outlook for the commercial sector and increasing energy control and other clean technology initiatives is expected to provide a robust foundation for the growth of the global residential and commercial smart glass market.
Commercial Sector Remains Top End User in Residential & Commercial Smart Glass Market
The residential end-user segment is projected to lead the global residential and commercial smart glass market in terms of growth rate throughout the forecast period. The commercial end-user segment is anticipated to hold dominant value share in the residential and commercial smart glass market owing to increasing demand for applications in commercial buildings. However, the growth of market in residential end-user segment has been projected at a strong CAGR of over 15% over the forecast period.
Moreover, increasing adoption of smart glass within commercial sector will significantly push market growth, according to the report. Surging use of smart glass in commercial buildings and several other premium projects is the driving demand growth of residential and commercial smart glass.
Key Manufacturers Prioritize Smart Glass Customizations
Leading manufacturers are offering residential and commercial smart glass solutions integrated with additional technologies and features. Clients can procure laminated safety residential and commercial smart glass solutions that are comparatively more durable. In case of breakage, the pieces of laminated residential and commercial smart glass do not shard and harm the occupants or users.
For the purpose of high commercial security, manufacturers integrate the latest ballistic, attack, and fire-resistant technologies. These highly secure residential and commercial smart glass solutions create a safe private screen that features the ability to withstand extreme unbalanced forces. These customizations offered by residential and commercial smart glass manufacturers are estimated to boost the global residential and commercial smart glass market during the forecast period.
Innovative Residential and Commercial Smart Glass Features Boost Market Growth
The strategic integration of smart glass solutions facilitates control over sunlight glare and radiation, and the redirection of natural light. The installation of properly designed smart glass-based day lighting systems in residential as well as commercial sectors is associated with a dramatic increase in an individual’s productivity and well-being. Architectural day lighting using smart glass solutions reduces the energy usage incurred due to artificial lighting, while protecting the interiors from extreme sun exposure. These day lighting benefits offered by smart glass solutions are expected to drive the global residential and commercial smart glass market during the forecast period.
Developed Regions Remain High-potential Markets for Residential and Commercial Smart Glass Manufacturers
Increasing energy control and other clean technology initiatives in the regions such as North America is expected to increase the market for the residential and commercial smart glass in the region. The market in Western Europe is also expected to increase for the residential and commercial smart glass market as due to the continuous urbanization where the people are moving for the luxurious lifestyle and the growth in the construction based industry which is now abiding by the new technologies which is the reason for the use of residential and commercial smart glass in the region
North America’s residential and commercial smart glass market is leading in terms of value and will retain dominance throughout the forecast period, with a market share of more than 1/4th of the total market value. Western Europe and South East Asia & others of APAC are also cited as the next key markets, in the report.
Residential and Commercial Smart Glass Market – Competitive Landscape
The global residential and commercial smart glass market is highly fragmented with the presence of several regional as well as global players across the globe. Globally, the top 11 players in the global residential and commercial smart glass market collectively hold between 40% to 45% share of the overall market in terms of value.
The key competitors covered in this report include Compagnie de Saint-Gobain SA, Asahi India Glass Limited., Glass Apps, LLC, View Inc., Research Frontiers Inc, Kinestral Technologies, Inc., NODIS Pte Ltd, Polytronix, Inc., RavenBrick LLC, Scienstry Inc., Smart Glass Technologies Inc., Smartglass International Ltd., ToughGlaze (UK) Ltd, Viridian Ltd, VG SMARTGLASS, LLC., ChromoGenics AB and others of residential and commercial smart glass market.
Key Questions Answered in the Report
How is the Residential and Commercial Smart Glass market expected to grow in terms of value during the study period?
How has the Residential and Commercial Smart Glass market evolved over the past four years?
What are the competition developments and trends in the Residential and Commercial Smart Glass market?
What are the prevailing market dynamics in the Residential and Commercial Smart Glass market?
What are the key challenges, opportunities, and improvements faced by market players in the global Residential and Commercial Smart Glass market?
What are the underlying macro-economic and industry factors impacting the growth of the Residential and Commercial Smart Glass market?
How has the competition evolved in the Residential and Commercial Smart Glass market over the past few years?
What is the market positioning and what are the key strategies adopted by major manufacturers as per the market taxonomy in the global Residential and Commercial Smart Glass market?
Market Projected to Grow 4X Between 2018 and 2028Evolving preferences of consumers have been offering creative freedom to the manufacturers to foster innovation in the residential and commercial smart glass vicinity. High investments in the manufacturing of customized smart glasses based on the infrastructural requirements are witnessed, which translates into lucrative business opportunities.
North America Takes the Smart Glasses to New Highs
Modern consumers of Canada and the U.S. show a high preference towards the incorporation of lifestyle enhancement products, which offers a cascade of opportunities in the developed economies for manufacturers of residential and commercial smart glass. Technologically mature regions move past the excessive utilization of energy by employing conservation techniques that offer a centre stage to smart glasses for falling in lines with the clean energy initiatives.
* This data is only a representation. Actual data may vary and will be available in report.
An Encyclopaedic Outlook
The residential and commercial smart glass landscape remains highly fragmented, in light of the presence of large number of partakers with no single dominance. Strong online presence, streamlined distribution channels, and launch of innovative products remain the game-changing strategies in the smart glass vicinity.
Suspended particle devices are projected to continue their penetration in the automotive, architectural, aircraft, and marine-rail industries for minimizing glares, and offering a reflexive response to varying temperature conditions.
Electrochromic technology is finding more integration than ever in the manufacturing of residential and commercial smart glass to modify the light transmission and color of a transparent medium.
Commercial buildings applications to unlock attractive business opportunities.
Residential buildings to underpin significant sales prospect.
How Growth will Unfold
Commercial buildings to drive significant demand for smart glasses as energy conservation remains the ‘front-of-the-mind’ focus of businessmen. Daylight control competency of smart glasses to popularize their use to achieve privacy and security in private office buildings. Affinity towards technologically-powered home automation systems to increase adoption of smart glasses in residential buildings.
Commercial | Residential
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
Custom Market Research Services
FMI offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.
Smart Glass Market Taxonomy
Smart Glass Market Reports - Table of Contents
19 Assumptions and Acronyms
20 Research Methodology