Smart Window is a window whose light transmission properties are altered when voltage is applied.
It can replace the blinds or curtains indoor and the tinting film in vehicle.
According to market research on Smart Glass Market by Technology, Application and Geography - Global Forecast to 2023, dated Sep.1, 2017, Smart glass market is expected to grow at a CAGR of 16.61% between 2017 and 2023 and Transportation and architecture applications are expected to hold significant share of the smart glass market by 2023”
The smart glass market is expected to reach USD 8.35 billion by 2023 from USD 3.32 billion by 2017, at a CAGR of 16.61% between 2017 and 2023. The growth of this market is mainly driven by factors such as growing demand for smart glass in automobile applications, strong government support through mandates and legislations for energy-efficient construction, and optimal energy saving through smart glass applications.
Smart glass is ideal for automobile, aviation, and other transportation applications requiring heat and glare control. In the automotive sector, smart glass is used in applications such as rearview mirrors, windows, sunroofs, and windshields. Smart glass provides protection from harmful ultraviolet (UV) rays, reduces glare, helps control heat inside the vehicle, and minimizes the energy consumed over temperature maintenance.
The transportation and architecture are the leading applications, together accounting for more than 90% share in the smart glass market. Various benefits provided by the smart glass has led to the increased adoption of the units of this glass in the applications such as architecture, transportation, power generation plants (solar), and consumer electronics and others. Smart glass is also used in museum artwork expositions and sunglasses.