Quantum Dot Display Market worth $5.4 Billion by 2023
DecisionDatabases.com announces the release of a comprehensive global report on quantum dot display. According to the study the quantum dot display market was valued $575.1 million and is expected to reach $5,462.1 million in 2023, supported by a CAGR of 38%. A quantum dot display makes use of quantum dot (QD) or semiconductor nanocrystals in which the quantum dot emit light or just convert it, in LED-backlit LCDs.
Quantum Dot Display Market: Drivers
The major factors which are propelling the demand for quantum dot display market are rise in demand for optimized devices with improved performance and resolution quality and technological advancements done such as low energy consumption and vibrant displays. Also, the urge for electronic devices with better resolution quality and narrow band of frequency spectrum of light will further push the demand for quantum dot display technology products. Quantum dot display brightness is 10-20 times higher than that of organic dyes. As the semiconductor material shrink to quantum-dot level, it helps in changing the light wavelength material and covert material from insulator to conductor. Thus, the demand in quantum dot display market has proliferated over the previous years. However, the main applications of quantum dot display technology which will drive market growth is its increasing use in cancer surgery, extraction of solar energy through windows, perovskite
PV, and graphene.
Based on application, the quantum dot display market can be segmented as optoelectronics, quantum optics, surveillance & security, biological imaging and renewable energy. Among these, the biological imaging segment is anticipated to contribute towards the growth of the quantum dot display market.
By end use industry
By end use industry, the global quantum dot display market can be segmented as consumer electronic devices, medical devices, defence industry and others. Of these, medical devices have the largest share as scientists have been involved in the development of these devices for more than a period of ten years.
Based on material type, the global quantum dot display market can be segmented as Cadmium Telluride, Cadmium Sulphide, Cadmium Selenide, Silicon and Indium Arsenide. The most widely used material which produces quantum dot display was cadmium selenide during the previous years, which was then followed by cadmium sulphide. The highest growth rate with highest revenue is expected to be witnessed by indium arsenide over the next six years.
Segmentation by technology type includes fabrication, colloidal synthesis, viral assembly, bulk manufacturing and cadmium free quantum dot technology. Of above, the most popular technology which has the potential to produce quantum dot display at a large extent is colloidal synthesis. Bulk manufacturing is anticipated to hold the largest revenue share and growth rate owing to its ability of large scale quantum dot display production with high quality. The second largest growth is anticipated to be witnessed by cadmium free quantum dot display technology as it can be used in different consumer applications.
Geographically, the report segments the global quantum dot display market into Asia-Pacific, Europe, North America and Rest of the World (RoW).North America was followed by Europe, which is anticipated to hold the largest share in terms of market owing to early acceptance of the quantum dot display technology. Asia-Pacific region is anticipated to witness the highest growth rate followed by the RoW region over the next six years.
The major players in the global quantum dot market includes Sigma-Aldrich Co., Thermo Fisher Scientific Inc., NANOSYS, INC, Nanoco Technologies Limited, The Dow Chemical Company, Ocean NanoTech., QD Laser, Inc. and others.
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