Smart Window may be defined as an integration of advanced glazing technology into the window which enables it to change its optical features in response to the amount of heat or light. In Smart Window, smart glass is being used which is laminated with the help of special film. When light or heat contact with the glass, the glass change from transparent to translucent to completely opaque. This ability to block some or all wavelengths of light allows smart windows to provide additional energy efficiency gains compared to traditional windows.
Smart Window have various benefits such as automatic adoption according to the climate, restricting the penetration of light when there are no requirements, and allowing the same when there is a need. This is also a helpful tool in managing the energy efficiency inside the houses.
The global smart window market is anticipated to grow at a considerable CAGR of 11.1% during the forecast period. The growth of the market is attributed to advancement in glazing technology coupled with growing innovations by market players. Also, the Government measures and policies promoting energy efficiency are anticipated to boost the growth of the market.
Some of the recent developments taking place in the market are as follows:
· In December 2022, Meta acquired Netherland-based 3D Smart glass maker Luxecel for an undisclosed sum. Luxexcel can integrate the elements needed to create an augmented reality (AR) experience within a prescription lens, such as holographic film and projectors.
· In February, Israeli smart glass technology provider Gauzy acquired a French company to bolster its offerings for light control and shading system technologies. Gauzy simultaneously announced that it raised $60 million in a Series D round with existing investors such as Ibex, Olive Tree VC, Blue Red Partners, Russian private equity firm Waarde Capital, and Avery Dennison, a multinational maker of packaging solutions.
· In February 2024, Marvin announced its new Marvin Connected Home product line, which includes programmable voice and app-activated skylights, windows, and doors. The company has launched a new line of "smart" skylights and standard windows that can be controlled via wall switches, sensors, or app-based programming. The products aim to improve indoor comfort and convenience, addressing consumer demand for automated home solutions. This launch represents Marvin's continued focus on technology integration within its product offering.
The global smart window market is segmented based on its technology and application. By technology, the market is segmented into electrochromic technology, PDLC, SPD, and photochromic. By application, the market is segmented into architectural and construction, transportation, automotive, aircraft, marine, consumer goods, and power generation. Among these segments, the architectural and construction application is anticipated to hold a significant market share. The growth of the architectural and construction application is attributed to rising construction in residential and commercial buildings across the region. Further Among the technology segment, the electrochromic technology sub-segment is anticipated to register significant growth for the forecast period.
The global smart window market is further segmented based on geography, including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), the Middle East & Africa, and South America.
Among these, the North American region is anticipated to hold a significant share in the smart window market during the forecast period. The growth of the region is attributed to presence of large market players in the region such as RavenWindow, PPG Industries, Inc., Kinestral Technologies, Inc., Gentex Corporation ,Pleotint, LLC, E-Chromic Technologies, Inc., Innovative Glass Corporation and others. Further Government push for energy efficiency measures is driving the growth of the market. For instance, In March 2023, the US government announced a $20 billion capitalize a clean energy financing network that will massively expand investment in new projects that reduce pollution across the country.
The major companies serving the global smart window market include Saint-Gobain Group (France), RavenWindow (US), PPG Industries, Inc. (US), Kinestral Technologies, Inc. (US), Gentex Corporation (US), Merck KGaA (Germany), Pleotint, LLC (US), E-Chromic Technologies, Inc. (US), Chromogenic AB (Sweden), AGC, Inc. (Japan), Hitachi Chemical Co., Ltd (Japan), Innovative Glass Corporation (US), Glasnovations Ltd. (UK), Heliotrope Technologies (US), Sage Electrochromics, Inc. (US), Scienstry (US), Stellaris (US), View Inc. (US), and Vista Window Company (US). The market players are considerably contributing to market growth by adopting various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market.
Manas Joshi
Web Marketing at Market Research Future
I am really glad to see this post. I also want to recommend you to try this Red One 2024 Dwayne Johnson Leather Vest.
I am really glad to see this post. I also want to recommend you to try this Marco Grazzini Grey Quilted Jacket.
Thankyou for this information, I am really glad to see this post. I also want to recommend you to try this Agency India Fowler Brown Jacket.
Elevate your everyday look with trendy pieces from Zing Apparel exclusives collection that speak to your style at Halloween.
Elevate your everyday look with trendy pieces from Zing Apparel exclusives collection that speak to your style at Halloween.