Global Quantum Dots Market - Segmented by Applications (Optoelectronics and Optical Components, Healthcare, Biomedical and Biotechnology, Alternative Energy, Security Applications), Material (Cadmium Selenium, Cadmium Tellurium, Cadmium-free), and Region - Growth, Trends, and Forecast (2018 - 2023)
The global quantum dots market is expected to register a CAGR of 61.4% over the forecast period of 2018–2023.Quantum dots are nanocrystals made out of semiconductors used in display and monitor devices, and many other equipments. There has been a continuous increase in demand for devices which can perform efficiently in varying conditions. Quantum dot technology addresses these concerns efficiently and is also driving the use of this technology across various application areas.
Quantum dots can be used in optoelectronics and optical components, healthcare, biomedical and biotechnology, alternative energy, security applications, and others. There are various processes or techniques through which quantum dots could be produced, such as, colloidal synthesis, fabrication, viral assembly, bulk-manufacture, etc. The primary benefit associated with all of these production processes is that it can be manufactured easily and cost-effectively. With advanced applications in printing technology and security, the quantum dots market is expected to grow at a higher pace over the forecast period.
Immense Demand for Quantum Dots in TV Technology
Quantum dots have revolutionized the TV technology. They have addressed almost all the critical challenges faced by the traditional LED and LCD television sets. With nearly 100% efficiency, quantum dots are the most efficient light emitting material ever known to man. This technology, when induced into LCD screens provides a wide range of advantages when compared to any other OLED or LED displays. This is one of the major reasons why quantum dot technology is increasingly becoming popular in the consumer electronics segment. Some of the attributes that make quantum dots so unique are that they are photoactive. They absorb and emit light in pure colors, as much as four times brighter than any other display technology in the world.
Quantum dots, for the first time in TV technology, were able to produce full pallet of colors that a human eye can see. As quantum dots are made from durable inorganic materials there is no effect of burn-in, i.e., colors will not fade over the lifetime of the display. Out of all the advantages that are provided by the quantum dot technology, the low power consumption is attracting many companies to adopt this technology in their goods. However, due to the high cost of the technology, these products are not yet trendy in the consumer electronics division. Nevertheless, with improving quantum dot production technologies, the price of such consumer electronics are expected to go down and increase the demand for this technology in the near future.
Key Developments in the Market