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“Quantum dot market to grow at 24.6% CAGR from 2020 to 2025”
The global quantum dot market size is expected to grow from USD 3.5 billion in 2020 to USD 10.6 billion by 2025, at a CAGR of 24.6%. Increasing demand for quantum dot in display devices and advanced features of quantum dot are creating scope for the quantum dot industry. However, the limited availability of rare earth material is likely to hinder the growth of the quantum dot industry in the future.
“Cadmium-Free material to dominate the quantum dot market during the forecast period”
A majority of quantum dot manufacturers are switching from toxic cadmium-based quantum dot devices to cadmium-free quantum dot devices. This act is in accordance with the draft amendment by the European Commission to the EU Directive on the restriction of hazardous substances (RoHS) in electrical and electronic equipment. Cadmium-free quantum dot offer a safer and more sustainable option for manufacturers and consumers, giving them the color benefit associated with the technology without the risks associated with toxicity or potential regulatory limitations. Cadmium-free quantum dot also open up potential not just for displays, but for many more applications that include lighting solutions, solar cells, and biomedicine.
“Displays to dominate quantum dot market (in terms of value) during the forecast period.”
Quantum dot manufacturers are striving to offer the best quality displays in the market. QLEDs have a narrow spectrum, high stability, which allows a considerable cost reduction; therefore, they are attractive for industrial manufacturers. With many advantages, quantum dot displays are considered as the next-generation display technology. Quantum dot are incorporated into a new generation of applications, including flat-panel TV screens, digital cameras, smartphones, gaming consoles, and personal digital assistant (PDA) devices. LEDs with quantum dot luminophores sound promising in the development of next-generation displays. As a result, the display devices are expected to dominate the quantum dot industry during the forecast period.
“Consumer to dominate quantum dot industry (in terms of share) during the forecast period.”
The consumer vertical is expected to continue to hold the largest share of the quantum dot market in the near future. The increasing demand for superior display technologies and energy-efficient solutions is likely to drive the quantum dot display market growth. Quantum dot LEDs emit light in highly specific distributions, render colors accurately, and use much less power than conventional LCDs. Many consumer electronics companies have started utilizing the quantum dot technology in their products as this technology could improve displays performance dramatically in terms of color gamut, color accuracy, and reduced power consumption. In addition, the unique characteristics of quantum dot such as high brightness, pure color, and wavelength tenability enable display designers to customize a spectrum of light to maximize both the efficiency and color performance of any display for incredible new user experience.
“APAC to grow at highest CAGR in quantum dot market during the forecast period.”
The adoption of quantum dot products in lighting, automotive, consumer electronics applications drives the quantum dot industry growth. As of now, quantum dot are in a pre-commercialization stage; however, in the coming years, the quantum dot will be deployed in mobile displays, batteries and energy storage systems, solar cells, medical devices, and solid-state lighting solutions. Therefore, APAC is expected to command the quantum dot market in the near future. The rising middle-class population with high disposable income and its demand for innovative products, along with improving manufacturing efficiencies, propels the growth of the market in APAC.
In the process of determining and verifying the market sizes for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions. The breakup of the profiles of primary participants has been given below:
- By Company Type: Tier 1 = 30%, Tier 2 = 25%, and Tier 3 = 45%
- By Designation: C-Level Executives = 35%, Directors = 45%, and Others = 20%
- By Region: North America = 45%, Europe = 15%, APAC = 35%, and RoW = 5%
Key players in the quantum dot market include Samsung Electronics (South Korea), Nanosys (US), Nanoco Group (UK), NN-Labs (US), Ocean NanoTech (US), Quantum Materials (US), OSRAM Licht (Germany), Avantama (Switzerland), Navillum Nanotechnologies (US), Crystalplex Corporation (US), RANOVUS (Canada), Innolume (Germany), QUANTUM SOLUTIONS (Saudi Arabia), NanoPhotonica (US), UbiQD (Mexico), Fraunhofer IAP (Germany), TCL (China), VIZIO (US), Hisense (US), and QD Lasers (Japan)
The report defines, describes, and forecasts the quantum dot market based on product type, material, vertical, and geography. It provides detailed information regarding the major factors influencing the growth of the quantum dot industry (drivers, restraints, opportunities, and challenges). It also analyzes the competitive developments?such as joint ventures, collaborations, agreements, contracts, partnerships, mergers and acquisitions, and product launches?carried out by key players to grow in the market.
Reasons To Buy the Report:
- Illustrative segmentation, analysis, and forecast pertaining to the quantum dot market based on product type, material, vertical, and geography have been conducted to provide an overall view of the quantum dot industry.
- Major drivers, restraints, opportunities, and challenges for the quantum dot market have been detailed in this report.4
- The report includes a detailed competitive landscape of the key players in the market and their ranking.