Quantum dot display market is estimated to exhibit high growth potential during the forecast period owing to rapid adoption of digital technology and increasing popularity of mobile communication devices and growing demand for advanced display and controller technologies. Major driving factor in the growth of quantum dot display market is the growing demand for enhanced display devices with better resolution quality and growing demand by consumers for quantum dot enhanced LED displays. Also, the increased energy efficiency, vibrant colors and high resolution features are the factors expected to boost the quantum dot display LED market. However, cost issues hinders the overall growth of the market. Growing digitalization is another major factor driving the growth of Quantum Dot Display Market. Growing demand for innovations and increasing technological advancements are other factors responsible for fueling the growth of quantum dot display market.
The major factor restraining the growth of quantum dot display market is the lack of awareness and toxic nature of the material used in the display is the major issue of the technology. Cadmium and selenium material which are used in the quantum dots are known to be toxic in nature. This could be a major factor that could cause hindrance in the growth of Quantum dot display market.
Global Quantum Dot Display Market valuation is expected to reach approx. USD 309 Billion by 2023, growing at a 25?GR between 2017 and 2023.
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Market Research Analysis:
The regional analysis of quantum dot display market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in Quantum dot display market in North America is attributed to technological advancements and increasing demand for energy efficient solutions in that region.
The prominent players in quantum dot display market are – Samsung Electronics Co., Ltd. (South Korea), LG Display Co., Ltd. (South Korea), Sony Corporation (Japan), 3M Company (U.S.), Sharp Corporation (Japan), Microvision, Inc. (U.S.), Altair Nanotechnologies, Inc. (U.S.), Evident Technologies, Inc. (U.S.), Quantum Materials Corporation (U.S.), QD Vision, Inc. (U.S.), Nanosys, Inc. (U.S.) and others.
Quantum dot display market has been segmented on the basis of material, product and application. The product segment is bifurcated into smartphones, tablet PCs, PC monitor, TV and others. High cost and increasing energy consumption has pushed manufacturers to innovate for eco-friendly and renewable sources of energy. Quantum dot display uses around 20-30% less power in comparison to LCD TVs of the same screen size. This innovative property of quantum dot displays boosts the battery life and stand-by time of electronic devices such as smartphones and tablets, making them an attractive prospect for device manufacturers. This is attracting various firms to invest in research & development and manufacturing of the quantum dot display technology. Increasing adoption of advanced display technologies is another major factor driving the growth of quantum dot display market.
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
Quantum dot display market can be segmented on the basis of material, product and application. Quantum dots are tiny crystals with ability to convert light from one color to another color in an efficient manner. Quantum dots has witnessed a major increase in adoption rate for the usage in various applications due to the technological advancement such as low energy consumption and vibrant displays. Growing demand of quantum dots in display devices and energy efficiency offered by quantum dots are some of the major factors driving the growth of quantum dots display market.
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