Smart Windows Market Gains Momentum: A Game-Changer for Green Building Designs

Global Smart Windows Market to Reach $8.97 Billion by 2026

WILMINGTON, DE, UNITED STATES, December 23, 2024 /EINPresswire.com/ -- Allied Market Research, titled, "Smart Windows Market¹ by Technology, Type, and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global smart windows market size was valued at $3.91 billion in 2018, and is projected to reach $8.97 billion by 2026, registering a CAGR of 11.4% from 2019 to 2026.

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Smart windows are glasses with an incredible feature of absorbing Ultraviolet light, controlling heat, and getting their transmission properties changed from opaque to translucent to transparent by application of voltage, heat, or light. The smart windows market is expected to witness notable growth in the coming years due to an increase in demand for smart glass-based products in various industrial sectors such as automotive, aerospace, marine, commercial & residential buildings, and others. Also, these have helped reduce the expenditure on air-conditioning, lighting, and heating along with interior objects such as blinds, curtains, and others.

The increase in demand for smart glass in automobiles is fueling the growth of the global smart windows market due to the adoption of green initiatives, such as eco-friendly and green buildings, non-electric technologies, such as thermochromic, and others, along with government support and initiatives all across the globe. The transportation and aerospace sector is anticipated to come into view as a major application segment, contributing to market revenue. Commercialization of suspended particle device (SPD) products has revealed several smart windows market opportunities, such as fixing in side-view windows, rear-view mirrors, automobile doors, and sunroofs.

Smart windows or switchable windows change in color from clear to dark by using a scientific idea called electrochromism, in which materials change color, after passing an electrical current across them. Typically, smart windows start as a bluish color and gradually within a few minutes turn transparent when the electric current passes through them, which plays a major role in the adoption of smart windows. With the decrease in the price of electrochromic materials used in smart windows, it is expected to experience robust smart windows market growth² during the forecast period.

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In addition, electrochromic smart windows can change their light transmission rate according to an electrical current. It is transparent and becomes translucent or opaque after a current is passed through, although this transition can take some time. Once, the change has been achieved, no electricity is required further to maintain that particular shade. The property of electrochromic glass begins by darkening the window or glass from the edges, moving inward, and is a slow process that takes many seconds to a few minutes depending on the window size.

Asia-Pacific is estimated to be the third largest region in the smart windows market. For instance, researchers at Shanghai University introduced the first-ever smart window-producing electricity. This smart window is similar to a solar panel and uses vanadium oxide to produce electricity. The market is witnessing growth in offices, residential areas, and hotels. The major concern is the conservation of energy and prevention of depletion of fossil fuels, which can be achieved by these smart windows that help save electricity without harming the environment and its resources, thus helping the technology obtain a huge smart windows market trend in these regions.

Key Findings of the Study:

- Based on technology, the suspended particle devices segment generated the highest revenue in the global smart windows market in 2018.
- Based on type, the OLED glass segment generated the highest revenue in the global smart windows market share³ in 2018.
- Based on application, the transport segment generated the highest revenue in the global market share in 2018.

The key players profiled in the report include Pleotint LLC, SAGE Electrochromics, Inc., Research Frontiers Inc., Polytronix, Inc, Gentex Corporation, Stellaris Corporation, ChromoGenics, Innovative Glass Corporation, Smart Windows Colorado, and View, Inc. These key players adopt several strategies such as new product launch and development, acquisition, partnership and collaboration, and business expansion to increase the global market share during the forecast period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises and medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR aims to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

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¹ https://www.alliedmarketresearch.com/smart-windows-market-A06050
² https://www.globenewswire.com/news-release/2020/06/16/2048902/0/en/Smart-Windows-Market-Anticipated-to-Generate-8-97-Billion-by-2026-at-11-4-CAGR.html
³ https://www.alliedmarketresearch.com/press-release/smart-windows-market.html