The global smart glass market was valued at USD 6.59 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 9.9% from 2023 to 2030. This significant market growth is largely driven by increasing efforts toward energy conservation, particularly through the rise of green buildings and eco-friendly structures. Smart glass, with its ability to manage energy consumption by controlling light and heat, is increasingly being recognized as a key solution for sustainable building practices. In addition, the favorable regulatory environment—which includes financial incentives and tax benefits for incorporating energy-efficient technologies—further supports the widespread adoption of smart glass solutions. As governments and organizations push for more energy-efficient designs, smart glass is positioned as a transformative technology in the construction and architectural sectors.

The growth of the smart glass market is also supported by recent industry developments, including significant investments in industrial-scale production capacity and advancements in smart glass manufacturing technologies. These developments are expanding the availability of smart glass products at a larger scale, contributing to a more robust supply chain and accelerating adoption across various applications. Additionally, trends in modern architecture, such as the increasing integration of window structures in buildings, expanding glazing areas, and maximizing natural light and external environment interaction, are all driving the demand for innovative smart glass solutions.

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Technology Insights

In terms of technology, the electrochromic segment led the market with a significant share of approximately 62.0% in 2022. Electrochromic glass is highly sought after due to its ability to adjust its transparency or opacity in response to an electrical charge, enabling users to control the amount of light and heat passing through the windows. This ability to switch between transparent and opaque states allows electrochromic glass to contribute significantly to energy efficiency in buildings. During the hot summer months, it helps reduce the heat entering the building, thereby minimizing the need for air conditioning. Conversely, in winter, electrochromic glass maximizes the absorption of solar radiation, contributing to passive solar heating and reducing the energy needed to warm the building.

Electrochromic windows also offer increased visual comfort by reducing glare and adjusting light transmission to provide a more comfortable indoor environment, particularly in spaces exposed to excessive external light. This not only makes the indoor space more pleasant but also reduces the reliance on artificial lighting, further driving energy savings.

The suspended particle device (SPD) segment is expected to experience the fastest growth, with a projected CAGR of approximately 11.1% from 2023 to 2030. SPD glass works by using a special layer of particles suspended in a liquid that can align or scatter in response to an electrical charge, effectively controlling the level of light transmission and shading. SPD glass is particularly valued for its high UV resistance and its ability to block around 99.5% of visible light, making it ideal for energy control and shading applications in buildings and vehicles.

One of the key advantages of SPD is its customizable dimming function, which allows users to adjust the level of light entering a space at any time. This feature can be controlled via an automation system or touch panel, offering a high degree of flexibility. SPD also helps eliminate glare, reducing eye strain and providing a more comfortable environment for occupants. For example, Research Frontiers Inc. and Gauzy Ltd. showcased their SPD-Smart light-control technology at the CES 2022 event, highlighting its potential for smart cities. The technology demonstrated at the event emphasized how SPD can be integrated into smart buildings, personal and public vehicles, and mobility solutions to reduce carbon emissions, improve energy efficiency, and even serve multifunctional roles such as entertainment, information display, privacy protection, and shading.

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