The quantum dot market is expected to grow from USD 3.5 billion in 2020 to USD 10.6 billion by 2025, at a CAGR of 24.6%. The factors such as increasing demand for quantum dot in display devices and advanced features of quantum dot are creating scope for the quantum dot industry.
Consumer to dominate the global quantum dot market during the forecast period.
The consumer vertical is expected to continue to account for the largest share of the quantum dot market. 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. As a result, the consumer vertical is expected to hold a major share of the quantum dot market during the forecast period.
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Market for cadmium-free to grow at the highest CAGR from 2020 to 2025.
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. As a result, the Cadmium-free quantum dot material segment is expected to grow at a higher CAGR during the forecast period.
Display devices to dominate quantum dot market (In terms of size) during the forecast period.
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, and owing to this, the display devices hold a major share of the quantum dot market.
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.
Key Market Players
Some of the major players operating in the market are Samsung Electronics (South Korea), Nanosys (US), Nanoco Group (UK), NN-Labs (US), Quantum Materials (US), Ocean NanoTech (US), OSRAM Licht (Germany), Avantama (Switzerland), and Navillum Nanotechnologies (US).