PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1491697
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1491697
Global automotive smart glass market is projected to witness a CAGR of 15.47% during the forecast period 2024-2031, growing from USD 4.59 billion in 2023 to USD 14.51 billion in 2031. As automotive equipment evolves with time and driver convenience, advanced car windows and windshield glasses have also become a trend. There is an increased demand for premium vehicles with advanced features, such as smart glasses along with internet, advanced navigation, and self-driving controls. Automotive smart glasses offer a wide range of features that add comfort for passengers and drivers. Also known as switchable glasses, smart glass delivers properties that deal with light, temperature, and electrical stimuli.
Smart glass helps improve energy efficiency by lowering the burden on the air conditioning system by regulating the amount of sunlight that enters the vehicle. Additionally, this may help electric car batteries last longer, making smart glasses a green option. Since smart glasses reduce glare and improve driver concentration, they increase the overall safety and security of the vehicle. Moreover, smart glasses can serve as a security element by hiding the car's interior from ant possible theft. The automakers are collaborating with smart glass technology vendors to deliver better-quality glass.
For instance, in February 2024, Renault Group and Saint-Gobain Group jointly developed the smart glass technology for its Solarbay sunroof. The technology lets each passenger choose a different tint type. The Solarbay opacifying sunroof uses Polymer Dispersed Liquid Crystal (PDLC) technology. Traveling in a Renault Rafale or Scenic E-Tech electric vehicle with a panoramic glass top that blocks out the sun provides a luxurious driving experience.
Adjustable Transparency and Advanced Thermal Control to Fuel Market Expansion
The increased demand for vehicles with higher privacy, security, and safety pushes automotive brands to adopt smart car glasses. These glasses control the transparency and can make the glasses opaque to 99%. The glass also controls the amount of light that enters the vehicle. Additionally, smart glass avoids the bureaucratic labyrinths of window tinting regulations. Some states permit dark hues, while others do not permit any color at all. This makes abiding by the law particularly difficult while traveling long distances or close to state lines in the car. Even more advanced smart glasses with variable shade capabilities allow one to darken each window separately. This is ideal when the sun shines on one side of the car while being stopped in traffic.
For instance, in 2024, Cadillac CELESTIQ made its premiere as a high-tech, electrified, driverless, and customized sedan. It is one of the car's five high-definition displays, which also include an 8-inch display mounted on the rear console and an 11-inch display mounted on the front console that lets drivers adjust the cabin temperature, opening and closing doors, tinting the all-glass roof panel, and other features. The Cadillac CELESTIQ is an all-glass top panel that gives drivers adjustable light levels within the car.
Higher Fuel Economy and Glass Customization to Thrive Market Growth
As the smart glass controls the light and temperature from entering the car, the usage of air conditioners is usually reduced, fueling the vehicle's overall efficiency. Glass customization allows integrated technologies such as a head-up display (HUD) to work with these glasses. Furthermore, the defensive qualities of automotive smart windows are crucial for protecting vehicle interiors. As these windows filter out a large portion of UV light, they help mitigate the harmful effects of UV radiation, such as fabric fading. Both the longevity of interior components and the overall driving experience for passengers are enhanced by this UV-blocking technology. New companies entering the marketspace with affordable glass customization are expected to add value to the overall market growth.
Government Stringent Laws to Impact the Market Growth
Government laws or stringent restrictions can threaten the market growth as some parts of the world have banned switchable or smart glasses, while some governments have legalized electric tint and smart glasses. For instance, in August 2022, the United States government enacted laws hastened the integration of suspended particle device (SPD)-SmartGlass technology into the construction and automotive sectors. According to the Dynamic Glass Act, electrically controlled flexible tint glass became eligible for significant investment tax incentives. Leading the industry in fast-responding SPD light-control technology for use in smart windows and other goods, Research Frontiers invented the technology.
Higher Safety and Maximum Light Control is Projected to Fuel Segmental Growth
Based on technology, the suspended particle device is anticipated to lead in the market during the forecast period. The growth is attributed to its higher adoption, easy availability, and multi-functional usage. Technology also delivers instant and accurate control of dark and light shades. Its laminated glazing provides a unique combination of safety and sustainability. It comes in customizable sizes and compatible shapes for building, remodeling, and retrofit projects, and it can be operated manually or mechanically. Regardless of the size of the window, the glass transforms from translucent to colored in less than a second.
Asia-Pacific Dominates the Global Automotive Smart Glass Market
Asia-Pacific is anticipated to hold a decent share of the global automotive smart glass market. The rising demand for passenger cars, increased economic activities, urbanization, and higher disposable income are expected to fuel the market growth. Furthermore, companies investing heavily in developing regions like India and China will develop the automotive equipment sector while supporting infrastructural development. The expanding working population and upgraded lifestyle are projected to add value to the market. Europe is also likely to accelerate at a higher CAGR during the anticipated period due to the legalization of switchable glasses and enhanced supply chain of semiconductors, and acquisitions, mergers of auto equipment manufacturers.
For instance, in February 2022, an Israeli smart glass manufacturer Gauzy Ltd. bought a French shading solution company named Vision System. A Tel Aviv-based business raised USD 60 million in a fresh investment round to expand into the self-driving vehicle market by providing lighting and shading solutions in February 2022.
Future Market Scenario (2024-2031F)
An increased number of cars with sunroof systems and evolving windshield technology will likely transform the market dynamics.
The collaboration between automakers and glass technology companies is anticipated to build a bridge that will cater to the upcoming demand for smart glass.
Adjustable transparency offered by glass technology vendors is anticipated to offer different options to the end users, diversifying the market dynamics.
The rising economic activities in Asia-Pacific, along with the increasing disposable income, are anticipated to build new market prospects.
Key Players Landscape and Outlook
The automotive smart glass market comprises major automotive equipment companies. The companies work on extended research and development. The brands also work on advancing glass technology through technological integrations like HUD and switchable tints. Furthermore, the companies also collaborate, acquire, and partner to expand their supply chain, distribution channel, and overall market hold.
For instance, for the eighth year running, Research Frontiers Inc., the creator and licensee of the patented SPD-SmartGlass light-control technology, and Gauzy Ltd., a leading provider of vision and light-control solutions worldwide, returned to the Consumer Electric Show (CES). The most recent SPD-SmartGlass technologies were on display at CES 2024, which took place in January 2024.
In May 2022, AGP Group launched VarioLux, a new generation of panoramic glass roofs. AGP's Polymer Dispersed Liquid Crystal (PDLC) switchable glazing allows the driver and passenger to have independent control of the transparency of the glass.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.