Global Smart Windows Market to Reach $6.8 Billion by 2026

Windows in buildings and automobiles play an important role of providing the sense of space and enabling ingress and ventilation of air and light contributing to the overall health of the occupants. Windows have gained increasing importance in modern homes, in terms of security, safety and aesthetics. However, windows also represent a conduit heat exchange, raising or reducing interior temperatures of buildings and automobiles based on seasonal conditions leading to higher energy consumption in the form of heating and cooling. Glass windows allow the sun`s heat to enter the buildings thus heating up the interiors. While blinds and curtains are used to prevent solar heat, they tend to disconnect occupants from the outside world. A smart window comes into play here as it reduces the solar heat gain while offering a transparent view to the outside. Smart windows have become an essential part of the latest and innovative smart home technology.

Amid the COVID-19 crisis, the global market for Smart Windows estimated at US$3.6 Billion in the year 2020, is projected to reach a revised size of US$6.8 Billion by 2026, growing at a CAGR of 11.3% over the analysis period. Suspended Particle Devices (SPD), one of the segments analyzed in the report, is projected to record a 9% CAGR and reach US$4.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Electrochromic segment is readjusted to a revised 16.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.2 Billion in 2021, While China is Forecast to Reach $1.1 Billion by 2026

The Smart Windows market in the U.S. is estimated at US$1.2 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2026 trailing a CAGR of 13.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.7% and 10.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.6% CAGR.

Cost savings, energy efficiencies and tightening sustainability norms are spurring the market for smart glass windows globally. Automotive and aviation applications are primed to witness splendid growth for smart glass windows. However, high initial installation and material costs, relatively low market awareness and durability concerns continue to challenge adoption rates of smart glass windows. Expansion of applications, improvement in the speed of switching and dimming and the extent of glass tinting control are slated to buoy the market demand in the near term. The market is also driven by favorable government regulations that recommend energy efficient heating, cooling and lighting solutions in buildings and cars. The ongoing trend towards embedding electronics, such as sensors, to turn auto and architectural windows into displays of infotainment content represents another significant factor benefiting market expansion. Transportation sectors represent an important application area supported by growing environmental concerns, increasing emphasis on energy efficiency, focus on better fuel economy, and the incessant drive to improve car and aircraft designs. These windows are witnessing increasing use to cut energy costs associated with heating, lighting and air-conditioning.

Polymer Dispersed Liquid Crystal (PDLC) Segment to Reach $751.5 Million by 2026

In the global Polymer Dispersed Liquid Crystal (PDLC) segment, USA, Canada, Japan, China and Europe will drive the 12.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$311.5 Million in the year 2020 will reach a projected size of US$719.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$70.1 Million by the year 2026.