Smart Glass Market Revenue Trends and Growth Drivers - 2026

Posted by Steve Stark on September 4th, 2023

The global smart glass market size is expected to reach USD 8.2 billion by 2027, growing at a CAGR of 10.4% during the forecast period. Smart glass, also known as switchable glass, dimmable glass, or magic glass, can adjust the light transmission properties dynamically or statically, depending on the stimuli.

The stimuli altering the light transmission properties could be light, voltage, or heat. Smart glass does not require electricity to maintain its state of opacity or for a color change. The installation of smart glass helps reduce the energy spent on heating, ventilation, and air conditioning (HVAC) and lighting systems as well as improves the indoor environmental quality of buildings. The decreasing price of electrochromic prices, energy saving capacity of smart glass and use of smart glass in automobile application are significant drivers driving the growth of this smart glass industry.

Electrochromic technology to hold largest share of smart glass market during forecast period

The electrochromic technology held ~49% of the market in 2021—the largest share. The market share of this technology is attributed to the faster switching time of electrochromic glass from a clear to dark state and increasing investments in this technology.

The increased traction of electrochromic technology is primarily attributed to the benefits it offers in a sustainable building design. A majority of the top smart glass manufacturers are focusing on R&D to bring down the prices of smart glass without compromising on quality and thus achieve economies of scale.

The industry is witnessing a series of funding and investments, which are enabling manufacturers to produce at high volumes and achieve economies of scale. Smart glass using electrochromic and SPD technologies is expected to witness huge demand in the coming years since the degree of customization is high in these two technologies, and the cost of these technologies is expected to drastically decrease.

Architecture is projected to register highest CAGR during the Forecast period by application.

In modern times, the design and steps taken to make a building compliant with the green building norms have been prioritized in the construction industry.

The marketability of a residential or commercial facility considerably depends on comfort, aesthetics or interior design, and eco-friendliness. Smart glass offers the architecture application energy efficiency and improved aesthetics. The applications of smart glass in architecture include doors, partitions, windows, skylights, and elevators. Smart glass products have inherent properties that help in market growth.

The glare control property of smart glass eliminates unwanted glare from sunlight and can provide bright, clear, and customized lighting levels in the building. Smart glass is also used to adjust the heat levels in buildings. The self-cleaning property of smart glass offers users a superior experience at the low cost of maintenance.

Smart glass products also possess a UV-blocking property, which helps maintain a healthy ambiance in buildings. Thus, smart glass not only provides customized lighting and heating experiences but also maintains hygienic and healthy surroundings. The use of smart glass in various applications in architecture increases the aesthetic value of a building and significantly reduces the heating, cooling, and lighting costs. Thus, the overall market is expected to witness an upturn in the coming years.

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Europe is projected to register the largest market share of the smart glass market in 2027

Europe is expected to lead the overall market in the coming years. Technological advancements and a recovering economy act as driving factors during the growth period.

Rapidly increasing energy cost is likely to trigger the demand for energy-efficient products. The ability of smart glass to reduce the overall energy consumption of a building while offering attractive features such as on-demand privacy or glare-control is expected to multiply its applications in Europe.

The multipurpose quality of this glass makes it a popular building material for a variety of architectural applications. In extreme weather conditions prevalent in several areas of Europe, smart glass offers a suitable solution for maintaining the internal temperature of buildings or vehicles, thus saving the overall energy costs. Therefore, Europe is expected to be a key potential growth market for smart glass in the coming years.