Quantum Dot Display Market
Quantum Dot Display Market Analysis Report By Material Type (Cadmium Containing Quantum Dot Display, Cadmium Free Quantum Dot Display), By Application Type (Quantum Dot Displays for Television, Monitors, Notebooks, Tablets, Smartphones), By Region - Global Insights 2022-2032
Analysis of Quantum Dot Display market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Global Quantum Dot Display Market Outlook (2022-2032)
The quantum dot display market is forecast to be valued at over US$ 4 Bn in 2022, experiencing a Y-o-Y increase of 30% as compared to 2021. Future projections indicate that the market will surge over 17x to reach US$ 69.79 Bn by 2032.
Market Value in 2022
US$ 4.03 Bn
Expected Market Value in 2032
US$ 69.79 Bn
Forecast CAGR (2022-2032)
Growth Rate of Asia Pacific
Key Companies Profiled
The quantum dot display technology is witnessing impressive penetration in the television display industry, expected to generate an absolute dollar opportunity worth US$ 7.2 Bn.
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Demand Analysis of Quantum Dot Display 2017 to 2021 vs. Future Outlook 2022-2032
Over the historical period 2017-2021, the global quantum dot display surged at approximately 30% CAGR. Growing demand in downstream markets for energy-efficient display panels such as televisions, smartphones, tablets, personal computers and other electronics has forced OEMs and display manufacturers to build state-of-the-art displays capable of delivering maximum energy efficiency and increasing color quality.
During the height of the COVID-19 pandemic crisis, the market experienced significant turbulence. Given the imposition of strict lockdowns, manufacturing units were compelled to cease operations temporarily, affecting output of essential equipment required for quantum dot displays such as cadmium. However, prospects began rebounding once these restrictions were lifted.
Quantum dot displays are well suited for displays due to properties such as high luminous efficacy, high brightness, and low power consumption. The use of inorganic materials prevents burn-ins, which are common in other types of displays. The numerous benefits of using quantum dot displays will be a major factor driving market growth, with Fact.MR projecting a 33% CAGR through 2032.
How is Demand for Enhanced Visibility Encouraging Uptake of Quantum Dot Displays?
Modern displays not only offer higher brightness and contrast ratios but are also available in higher resolutions and consume less power than conventional displays. Display manufacturers are developing displays with improved specifications to strengthen their position in the market.
Quantum dots are being extensively used in display devices as quantum dot displays offer high color resolution, better color purity, a highly immersive high-dynamic-range (HDR) experience, and higher energy efficiency compared to conventional displays.
Quantum dots’ narrow emission spectra and wide excitation profiles enable them to change light into any color in the visible spectrum with greater efficiency. Due to several enhanced properties, quantum dots are being extensively used by display manufacturers.
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Increasing demand for large and high-resolution displays Spurring Quantum Dot Display Adoption?
In recent years, there has been a significant rise in the demand for large-size and high-resolution displays owing to the enhanced visual experience and the decreasing prices of LCDs.
Big-screen displays have become more affordable due to the reduced LCD prices. Owing to the growing focus of display manufacturers on the production of 4K and 8k displays, there has been an increasing demand for quantum dots due to their ability to enhance the display. The adoption of quantum dots in displays provides advantages such as higher image frame rates, greater bit depth, and a wider color gamut.
Will Concerns Regarding Usage of Heavy Metals Impede Quantum Dot Display Adoption?
Cadmium is the most efficient raw material that can be used for the manufacturing of quantum dots. However, heavy metal contamination leads to environmental pollution and has adverse effects on human health. Using heavy metals in household products can lead to major health problems.
However, many companies and research associations are producing alternatives for cadmium-based quantum dots. Elements such as indium and zinc are suitable substitutes for cadmium for the development of quantum dots. Soon, cadmium-free quantum dots are expected to be widely available and are expected to dominate the market as a result of their safety, strong performance, and environmental benefits.
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What are the Factors Driving Revenue Generation in North America?
North America dominates the global quantum dots market, owing primarily to the high demand for QLEDs and early adoption of the technology. Furthermore, the population's increased awareness of health and fitness drives the quantum dots market size.
Furthermore, the presence of technology providers, as well as increasing investments by government agencies and aerospace & defense in research and development of machine learning technology, influence market growth. A market share worth 40% is projected for the North American market.
How do Growth Prospects Appear in the Asia Pacific Market?
The global quantum dot display market across APAC is estimated to grow at a CAGR of over 32% over the forecast period. Increasing demand for energy-efficient technologies are the primary factors for increased demand for quantum dot displays in countries like China and India.
The adoption of quantum dot displays is ever increasing with the growing expenditure on electronic gadgets. APAC, in the last few years has made remarkable progress to become a powerhouse in the electronics accessories industry.
Rising internet penetration and large tech-savvy younger population have underpinned robust demand for television sets and smartphones. This presents a great potential for the quantum dot display market.
Is Cadmium-Free Quantum Dots Display Technology anticipated to expand sharply?
The introduction of quantum display devices into the display industry has the potential to create a new model that could replace LCD panels. Top-tier competitors in the quantum dot display market are developing devices that use cadmium-free quantum dot technology.
Stringent regulations governing the use of cadmium in quantum dots displays will limit their adoption and prevent manufacturers from reaping the benefits of this technology. Cadmium used in display devices has been prohibited in several regions. As a result, quantum dot display manufacturers are transitioning to cadmium-free technology.
Will Quantum Dot Display witness High Demand for the Television segment?
The quantum dot display technology is witnessing impressive penetration in the television display industry. The global demand of televisions is growing at a significant rate, with manufacturers continuously developing new components to improve the overall performance and appeal of modern televisions.
The ultra-high quality provided by quantum dot display is becoming a key technological trend in the global television industry. Additionally, a key entity in displays are colors which are a critical focus point by leading manufacturers for enhancing display and improving image quality. The segment is likely to expand 6x across the forecast period.
The quantum dot display market is consolidated with a few prominent manufacturers namely Samsung Electronics Co. Ltd., LG Display Co. Ltd., Sony Corporation, Sharp Corporation and CSOT (China Star Optoelectronics Technology), acquiring a share of more than 70%. Numerous approaches, such as expansion, introduction of new products, joint ventures, agreements, alliances and acquisitions, are being employed by top competitors. Some of the other developments in the market are:
- In October 2019, Samsung invested US$ 11 Billion in the world’s first dedicated quantum dot display manufacturing facility. Beginning in early 2021, the new production unit is set to operate with a monthly capacity of 30,000 quantum dot display substrates.
- In January 2019, Hewlett-Packard announced the launch of world’s first quantum dot display on glass. The company also launched its new range of “Pavilion 27” monitors with quantum dot display.
- In February 2019, Nanosys demonstrated its revolutionary quantum efficiency for heavy metal-free red, green, and blue QDEL systems, and successfully printed displays in their laboratories using ink jet technology. This is a major advance in quantum dot engineering of the next decade.
Key Segments Covered in the Quantum Dot Display Industry Report
By Material Type
- Cadmium Containing Quantum Dot Display
- Cadmium Free Quantum Dot Display
By Application Type
- Quantum Dot Displays for Television
- Quantum Dot Displays for Monitors
- Quantum Dot Displays for Notebooks
- Quantum Dot Displays for Tablets
- Quantum Dot Displays for Smartphones
- Quantum Dot Displays for Medical Devices
- FAQs -
According to Fact.MR, the quantum dot display industry is expected to be worth US$ 4.03 Bn
From 2017-2021, the market for quantum dot display surged at a CAGR of 30%
As of 2021, the quantum dot display market reached US$ 3.1 Bn, as per Fact.MR
The quantum dot display industry is forecast to surge at a CAGR of 33% from 2022-2032
By 2032, the market for quantum dot display is expected to be valued at US$ 69.79 Bn
In North America, the market for quantum dot display is poised to generate 40% of the global revenue
Asia Pacific is expected to be a highly opportunistic market, expanding at a 32% CAGR through 2032
The television segment is expected to be the most frequent end user of quantum dot displays, growing 6x through 2032