Smart Windows Market Size & Growth Analysis to 2030

The global smart windows market size is anticipated to register a significant CAGR of over 10% during the forecast period and expected to reach over USD 7 billion by 2027. The increasing construction activities around the world and the increasing number of smart cities are some major factors to drive the market growth. Furthermore, the increasing investment in infrastructure and the growing automotive industry is further anticipated to fuel the market. Moreover, the increasing demand for smart household solutions and the increasing penetration of IoT devices are expected to boost the market growth over the forecast period.

Market Drivers:

Energy Efficiency and Sustainability: Energy efficiency is a significant driving factor for the smart windows market. Smart windows are designed to control the amount of heat and light that enters a building, reducing the reliance on artificial lighting, heating, and cooling systems. By automatically adjusting their tint or transparency based on external conditions, smart windows help optimize energy consumption, lower utility bills, and reduce greenhouse gas emissions. The increasing focus on sustainable building practices and energy conservation drives the demand for smart windows.

Comfort and Visual Comfort: Smart windows enhance the comfort levels of occupants by providing better control over natural light and glare. They can dynamically adjust their tint to optimize daylight and reduce glare, creating a more comfortable indoor environment. Smart windows also offer the flexibility to adjust privacy levels by changing their opacity, providing occupants with control over their visual comfort. The desire for improved comfort and well-being in residential and commercial spaces fuels the demand for smart windows.

Government Regulations and Incentives: Government regulations and incentives aimed at promoting energy-efficient building practices have a significant impact on the smart windows market. Many countries and regions have introduced building codes and standards that encourage the use of energy-efficient technologies, including smart windows. In some cases, financial incentives, tax benefits, or rebates are provided to building owners or developers who incorporate energy-saving technologies into their projects. These regulations and incentives drive the adoption of smart windows in the construction industry.

Growing Green Building Initiatives: The increasing adoption of green building initiatives worldwide is a key driver for the smart windows market. Green building certifications such as LEED (Leadership in Energy and Environmental Design) emphasize the use of energy-efficient and sustainable technologies in building design and construction. Smart windows align with these green building principles, making them an attractive choice for architects, developers, and building owners seeking to achieve green certifications and improve the environmental performance of their buildings.

Advances in Smart Window Technologies: Technological advancements have significantly improved the performance and capabilities of smart windows. Innovations in materials, coatings, sensors, and control systems have enhanced the energy efficiency, responsiveness, and durability of smart windows. The development of self-tinting windows, electrochromic windows, thermochromic windows, and other smart window technologies has expanded their application potential and attracted interest from various industries. Continuous advancements in smart window technologies drive market growth.

Increasing Adoption in Automotive Industry: Smart windows are not limited to buildings but also find application in the automotive industry. Automotive manufacturers are incorporating smart window technologies into vehicles to enhance passenger comfort, improve energy efficiency, and reduce the reliance on air conditioning. Smart windows in cars can automatically adjust tint levels based on sunlight intensity, reducing the need for manual shades or blinds. The increasing demand for smart features and energy-efficient solutions in automobiles contributes to the growth of the smart windows market.

Enhanced User Experience and Convenience: Smart windows offer enhanced user experience and convenience by automating window control. With the integration of smart home systems and Internet of Things (IoT) technologies, users can control and monitor their smart windows remotely through mobile devices or voice commands. The ability to adjust window settings, such as tint, opacity, and opening/closing, from anywhere in the building adds convenience and customization options for users. The desire for smart, connected, and user-friendly technologies drives the demand for smart windows.

Increasing Awareness and Demand for Smart Homes: The concept of smart homes is gaining traction, and smart windows are an integral part of this ecosystem. Smart home technologies, including smart windows, offer automation, energy efficiency, security, and comfort to homeowners.

Market Snapshot:

Market Insights:

The global smart windows market bifurcated into technology, application, and geography. On the basis of technology, the market is further segmented into suspended particle devices, electrochromic, polymer dispersed liquid crystal and others. The suspended particle devices segment dominated the global market in 2020 and is estimated to hold the largest revenue share of around two-third percent of the market by the end of the analysis period. On the other hand, the polymer dispersed liquid crystal segment is accounted to grow at a fast growth rate over the forecast period due to the rising adoption of the technology.

To know more about the report, request sample papers

The smart windows comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The smart windows market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Technology:

• Suspended Particle Devices (SPD)
• Electrochromic
• Polymer Dispersed Liquid Crystal (PDLC)
• Others

By Application:

• Residential
• Commercial
• Industrial
• Transport

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage

Geographically, the smart windows market report comprises dedicated sections centering on the regional market revenue and trends. The smart windows market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, and Rest of the World (RoW). The RoW segment consists of Latin America and the Middle East & Africa. The smart windows market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Smart windows market estimates have also been provided for the historical years 2018 & 2019 along with forecasts for the period from 2021 – 2027.

Competitive Assessment

Some of the major market players operating in the global smart windows market are Inter IKEA Systems BV, Lutron Electronics Co. Inc., Springblinds, Somfy Systems Inc., and Hunter Douglas. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Inter IKEA Systems BV
• Lutron Electronics Co. Inc.
• Springblinds
• Somfy Systems Inc.
• Hunter Douglas
• Griesser AG
• Gentex Corporation
• The Shade Store LLC
• Heliotrope Technologies
• Glasnovations Ltd.

Key Questions Answered by Smart Windows Market Report

• Global smart windows market forecasts from 2021-2027
• Regional smart windows market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the regions as mentioned above
• Smart windows submarket forecasts from 2021-2027 covering the market by technology, by application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about smart windows market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level smart windows markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the smart windows market