According to a recently published research report "Quantum Dot Market by Product (Display, Medical Devices, Solar Cells, Photodetector/ Sensors, Lasers, Lighting (LED), Batteries and Energy Storage, and Transistors), Material (Cadmium-Based, Cadmium-Free), Vertical, and Region - Global Forecast to 2025", The global quantum dot market size is expected to grow from USD 3.5 billion in 2019 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.
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Opportunity: Rising adoption of quantum dots in LED lighting
Display and lighting are 2 major industries in the quantum dot market. At present, quantum dot technology is the most attractive alternative to conventional display technologies. This technology is likely to be commercialized soon in the lighting segment as lighting solution providers have started using quantum dots for manufacturing lighting devices. For instance, in May 2019, OSRAM started using quantum dots for manufacturing LEDs. Quantum dots are expected to gain considerable acceptance due to their ability to offer outstanding efficiency and high color rendering indexes.
Challenge: Adverse impact of falling prices of conventional LCD/LED and OLED displays on quantum dot displays
The development of cost-effective manufacturing methods is expected to reduce the cost of competitive technologies such as OLED, LCD backlight, and LED. Prices of quantum dot hardware are expected to reduce in the next few years. The price of small quantum dots display substrates is also expected to reduce; this decline is likely to be countered in the long run by an increase in the size of substrates, which would be more expensive than existing panels. Therefore, quantum dot display prices need to be reduced to compete effectively with LCDs. Such a fall in prices of the competitive technologies can have a high impact on quantum dot-based displays in the short and long term.
“APAC quantum dot market to grow at highest CAGR 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.
Key players in the quantum dot industry 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)
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