Quantum Dot Displays Cannibalizing on OLEDs Market Share, Sales to Further Soar through 2027
Quantum dot displays are also proposed for several non-display applications in the pipeline such as improved transistors, quantum computing and medical imaging. Such aforementioned factors are expected to bolster demand for quantum dot displays enabling it to reach the US$ 15 Bn mark by 2027.
Quantum dot displays outsold OLEDs (Organic LEDs) in 2018 and are expected to gain market share in the near future. The key selling factor for quantum dot displays are a wide color gamut with minimal re-engineering of LCD panels, thus making it lighter.
Television Segment to Witness Absolute Dollar Opportunity of US$ 7.2 Billion
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.
Market in APAC to Grow 9X as Consumer Electronics Sales Reach All-time High
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.
The elevating 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.
Mounting Investments and Product Launches to Remain the Key Strategies
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.
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An Impetus in the Use of Cadmium Free Quantum Dots Display Technology is foreseen
The introduction of quantum display devices in the display industry has the potential to create a new model that can bring an end to the LCD panels. Top tier competitors in the quantum dot display market are improving gadgets using cadmium-free quantum dot technology.
Stringent regulations on the use of cadmium in quantum dots display will restrict its adoption and prevent manufacturers from leveraging the benefits of this technology. Several regions have banned the use of cadmium in display devices. As a result manufacturers of quantum dot display are shifting to cadmium free technology. As a result, cadmium free quantum dots are projected to register steady growth over the forecast period.
Quantum Dot Display Market: In-Depth Assessment on Key Segments-
The global quantum dot display market is segmented on the basis of material type and application type.
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