The global smart glass market is projected to reach a total market size of approximately $5 billion by 2021, increasing at a compound annual growth rate (CAGR) of 16.77% from 2015’s $2 billion, according to a report available from Research and Markets. The rising global adoption of green buildings and eco-friendly technologies is the major factor driving smart glass demand. This growth is further fueled by the financial support and tax benefits from various governments that are provided to smart glass manufacturers. The growing automotive industry is also propelling demand for smart glasses, as they help control heat inside vehicles while saving energy. 

The growth of the smart glass market is hampered due to high costs in R&D activities, a lack of consumer awareness about the benefits of these glasses, and the difficulty in maintaining exact glass color balance. In addition, smart glasses are more expensive than their alternatives, which is also a challenge to broad adoption.

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