Quantum Dots: An Emerging Technology
The Quantum Dots market is expected to grow at a compound annual growth rate of 18.44% over the analysed period to reach a market size of US$10.843 billion in 2026 from US$3.316 billion in 2019.
Quantum dots are defined as artificial nanoparticles that have a semi-conductor property to help in the transportation of the electrons. These small semiconductors have the ability to emit out the light of myriad colours after UV light is incident on them. These particles have unique optical and electronic properties which are different from the large particles. Their diameters range between 2 to 10 nanometres influencing the wavelength of the light emission. The shape, composition and structure affect the light emission capabilities. Optoelectronic characteristics of the quantum dots alter as the function of the shape and size. These particles find the spectrum of applications in the information storage, single-electron transistors, agriculture, imaging, electronics, medicines, catalysis, UAVs or drones and sensing devices. Based on electronic properties they can be an active material in the single-electron transistors.
The quantum dots act like naturally occurring molecules or atoms and its properties can be modified by the removal or addition of the electrons. Due to its unique illumination properties when exposed to a source of energy such as UV light, it can be used in many optoelectronic devices such as TVs, LEDs, Photoconductors among other applications and its demand and its uses are still witnessing rapid growth.
Market Players included in the report of the quantum dots market are Nanosys Inc., Quantum Materials Corporation, Quantum Laser, NN-Labs Inc., Crystalplex Corporation, Nanoco Group Plc, Ocean NanoTech, NanoPhotonica.
Market Size
Based on geography, the quantum dots market is segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific regions. The North American region is projected to hold dominating share of the market. This can be attributable to the region’s state-of-art infrastructure, fast adoption of 4K LED television and early adoption of the advanced technology.
Meanwhile, Asia Pacific region is expected to grow at the fastest rate during the forecasted period primarily due to the growing technological advancement, inclination of the consumer towards the adoption of the technologically advanced products, innovation and the increase in the awareness along with the involvement of various organization and universities investing heavily in the research and development of technology especially in the display and healthcare.
The quantum dots market by product type is segmented as Quantum Dots Solar Cells, Quantum Dots Display, Quantum Dots Medical Device, Quantum Dots Laser and Others.
The quantum dots market by a material is segmented as Cadmium-based Quantum Dots, Silicon, Graphene and Lead Sulfide,
The quantum dots market by end-user industry is segmented as Telecommunication, Healthcare, Military and Defence, Consumer Electronics and Others.
The consumer electronics segment is expected to hold to grow at a significant rate due to the surge in the demand for the technologically advanced consumer electronic good. The advertisement is playing a major role in boosting the market growth of quantum dots. Further, the quantum dots technology enhancing their product by improving display performance in terms of colour accuracy and gamut and reduced power consumption, further the unique characteristics such as pure colour, wavelength tenability and high brightness, thus making it a popular demand among the consumer electronics segment.
Market Growth
Quantum dots are used in LCD device such as TV, smartphones and tablets. It produces narrow colour-band frequency emission and its smaller size enable them to manage the brightness of the display while ensuring the less consumption of the power than LCD and OLED displays. The key players of the television manufacturing such as Samsung and Sony are developing 8K and 4K LCD, LED TVs that is quantum dot-based and is lesser in cost than OLED technology. The high demand of the quantum dots in the display are driving the market growth of the quantum dots. Quantum dots produce higher peak brightness for many of the optimized devices and can drive up the colour brightness and the gamut of the display. This is encouraging the other players of the market including TV and LED display manufacturers to adopt the quantum dots as it provides an efficient way of producing the next generation of high-definition and brilliant TV screen display.
Quantum Dots are emerging slowly in the optoelectronics and is expected to increase along with its product development.
Technology
Quantum dots are tiny semiconductor nanomaterials that are made from different manufacturing and synthesis method. They have wide applications in electronics, imaging, sensing devices, information storage, medicine and catalysis. Its capability of churning the large quantity of the nanocrystals in the batched based on the exact parameters is further boosting the market demand for the quantum dots technology. Quantum dots is majorly used in two major industries, display and lightning as it is a most popular alternative to the conventional display technologies. The quantum dots technology is expected to be commercialized soon in the lightning segment as the providers of the lightning solution are widely adopting quantum dots for the manufacturing of the lightning devices. For instance, OSRAM have started adopting the quantum dots in the manufacturing of the LED. Thus, the surge in the adopting of the quantum dots in the LED lightning is offering growth opportunities to the quantum dots market.
However, most of the raw materials of the quantum dots possess the best characteristics which are suitable for the quantum dots but have limited availability. While the rest of the materials are not environmentally friendly and are highly toxic for instance, cadmium. Currently, cadmium is being used as the most effective raw material during the manufacturing of quantum dots as they possess high brightness and intensity, thus proving to be useful in the optoelectronics application. Cadmium should be used optimally. For instance, Quantum Materials Corp., leading US-based cadmium-free quantum dot and nanomaterials manufacture, produced 100% cadmium free 55-inch QDX quantum dot display technology that can achieve a superior level of performance of industry-leading 95% Rec by utilization of the company’s proprietary QD-enhanced film. While eliminating the cost barrier film which was previously required for the QD-based display design.
