Market Size of Europe Smart Glass Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 13.90 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Smart Glass Market Analysis
The European smart glass market is estimated to grow at a CAGR of 13.9% in the forecasted period (2021-2026). Smart glass is becoming one of the region's popular building materials that can be used by architects and engineers for several different purposes. Applications found in the construction sector and transportation industries stand to be an excellent source of demand for smart glass in the current market scenario.
In the commercial design sector, smart glass has become an increasingly widespread feature because of its aesthetic value. Moreover, it also offers a unique ability to increase the energy efficiency of commercial buildings. Further, Increasing reforms by the European government to enhance the energy efficiency of commercial buildings are encouraging commercial building owners to invest in smart energy-saving solutions, such as smart glass.
Also, increasing applications in the field of aerospace and transportation are creating immense demand for smart glass. Some researchers estimated that smart glasses installed in automobiles are capable of providing 98% UV protection and 40% solar reduction, thus making the vehicle cabin more comfortable. Such installations are already seen in top automotive manufacturers, such as BMW and Mercedes. OneBMW'sMW's most iconic electronic hybrid, BMW i8, is reportedly using chemically-treated corning glass made by Gorilla glass to reduce 25-30% of the weight added by traditional glass installations.
Smart glass technology, when installed in buildings, also saves the cost of installing and maintaining curtains or blinds. Blackout smart glass has the ability to block around 99.4% of ultraviolet light. For instance, NHS Hospital in Paisley, United Kingdom, adopted smart glass into five of its critical patient areas in the ICU ward. This technology was used to a great extent, allowing healthcare professionals to provide privacy to patients whilst being able to monitor them visually, without disturbing them.
