Smart Glass Market

Market Leadership - Smart Glass Market

The smart glass market size is expected to grow from USD 3.8 billion in 2020 to USD 6.8 billion by 2025, at a CAGR of 12.1% during the forecast period. The growth of the smart glass industry is driven by factors, such as the growing adoption of smart glass in automotive application and, declining prices for eletrochromic material.Other major driving factors for smart glass adoption include supportive government mandates and legislation on energy efficiency. Governing bodies of various countries are increasingly encouraging the use of these energy-efficient products. Smart glass has inherent energy-saving and auto-dimming properties, which reduce its maintenance cost. As a result, the perceived benefits of these glass products are more than the incurred investments.

In 2019, the smart home market was dominated by Saint-Gobain (France), AGC Inc. (Japan), NSG Group (Japan), research frontier (US), and Gentex Corporation (US). A few of the major strategies adopted by these players to compete in the smart home market include  Product launches, partnerships, and agreements have been carried out by the players in the smart home market from 2017 to 2019. There were also a significant number of product launches, partnerships, collaboration, and agreements during this period.

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Saint-Gobain (France) develops electrochromic glass, focusing mainly on architectural applications. The company claims that its electrochromic smart glass has the potential to reduce the size of equipment for building heating and air conditioning by up to 25%, resulting in a reduction in the construction costs. The company holds over 500 patents and offers solutions for office spaces, schools and universities, healthcare facilities, among others. It sells its products through independent representatives in the US and internationally and has successfully installed electrochromic glass in 700 projects and buildings globally. In November 2019, Saint-Gobain entered into a definitive agreement to acquire Continental Building Products. Both the companies’ businesses have strong geographic complementarity with Saint-Gobain’s North American operations, good positioning in growth regions in the East and South-East of the United States, and strong profitability.

AGC Inc (Asahi Glass Corp.) (Japan) has a strong presence in Japan and Asia. According to its 2019 annual report, the company generated ~67% of its revenues from Asia. This indicates that the company is dependent on the Asia Oceania market for a majority of its revenues. Asahi Glass needs to expand its presence in America, as it generated just 11% of its revenue as of FY2019. To gain market share in this region, the company can explore joint ventures and acquisitions. It would provide the company a significant advantage over its competitors, as it would have its major presence in emerging economies along with a good presence in developed economies

Related Reports:

Smart Glass Market with COVID-19 Impact by Technology (Suspended Particle Display, Electrochromic, Liquid Crystal), Application (Architecture, Transportation, Consumer Electronics), and Geography - Global Forecast to 2025

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Report Code
SE 2552
RI Published ON
9/8/2020
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