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Smart Windows to Enter Connected Homes and Smart Buildings Space Through IoT Integration
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Smart windows are next generation windows, integrated with smart glass or switchable glass that selectively blocks or allows sunlight and heat in buildings by switching from clear to opaque in response to certain stimulus. This stimulus can be sunlight, electricity, or temperature. Smart windows are transforming into a prominent energy management option, especially in developed countries as they involve lower capital costs when compared to other energy management systems that provide energy and cost savings.Frost & Sullivan see smart windows as a significant part of buildings Internet of Things (IoT) and this study explores how this development is creating opportunities for the smart windows participants on the one hand, and how IoT participants will benefit from fitting smart windows into their strategies. Smart windows is growing at an accelerated pace, but is currently under-penetrated due to lack of awareness among customers. The market earned revenue of $189.3 million, growing at a rate of 23% in 2016.Frost & Sullivan has segmented the study from a technology perspective, active and passive, which are further segmented according to technologies such as Electrochromic, Thermochromic, suspended particle display (SPD), and polymer dispersed liquid crystal (PDLC). There is also Photochromic technology, which belongs to the passive category that changes its transparency in response to light intensity. This technology is mostly used in sunglasses rather in the construction industry. Although small units have been produced as a consumer product, cost-effective, large, durable glazings for windows are not yet commercially available. Photochromics has been excluded from this study due to its commercial unavailability at a large scale and sparse usage in small buildings. Therefore, it is not included in the product scope and this segment not analyzed later in the study. The study is further segmented based on end users: Residential, office, (includes commercial and industrial offices), hospitality, healthcare, education, others (retail, government, and airports). The regional scope of the study covers North America, Europe, Russia, Asia-Pacific (India, China, Japan, South Korea, Singapore, Malaysia, Australia & New Zealand), Latin America (LATAM) and the Middle East and Africa (MEA).Frost & Sullivan has identified key growth opportunities such as IoT-enabled smart windows, impact of smart windows on adjacent markets such as HVAC, lighting controls, and glass & materials market, for participants to create new revenue models and stay ahead of competition. Key questions this study will answer:• Is the market growing? How long will it continue to grow, and at what rate?• What is the actual and total addressable market for smart windows in 2016 and 2021?• What are the current technologies prevalent in the smart windows market and will there be any technology transition that will take place over the next 5 years?• What are the implications of IoT in the smart windows market? How will IoT participants benefit from this? • What are the growth opportunities and critical success factors for participants to survive and compete in this market?
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