SMART GLASS MARKET ANALYSIS

Regional Analysis

Global Smart Glass Market: Regional Insights

Based on geography, the global smart glass market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The smart glass market is expected to grow significantly in the Asia Pacific region during the forecast period, owing to its growing use in a variety of applications in the architecture, transportation, power generation, and consumer electronics industries. The growth of the Asia-Pacific smart glass market is mainly attributed to its rising application in developing regions, such as India and China.

North America is expected to gain fastest growth in the global smart glass market over the forecast period owing to the increasing government regulations for energy efficiency. According to the Coherent Market Insights analysis, the smart glass market for automotive application in North America was valued at US$ 640.4 million in 2021 and is estimated to reach US$ 1,412.4 million by 2030, growing at a CAGR of 8.9% from 2022 to 2030. The aircraft application is projected to grow at the highest CAGR of 10.5% from 2022 to 2030. Marine segment is likely to grow at the rate of 9.8% from 2022 to 2030.

Figure 1. Global Smart Glass Market by Region, 2022