The global quantum dot (QD) display market was valued at around US$ 1,176.2 Mn in 2017and is anticipated to register a stable CAGR of over 23% during the forecast period 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Quantum Dot (QD) Display Market” – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.”
Benefits Provided by Quantum Dot Display to Drive Market Growth
The growing demand for enhanced display technologies and increasing awareness about energy efficient solutions has increased the adoption of quantum dot display products. There are numerous advantages of quantum dot displays such as energy efficiency, ultra-definition, low cost, and high brightness. Quantum dots can glow in any array of colors, determined by their sizes. Various companies are implementing quantum dot technology in order to achieve cheaper, faster, and stronger television displays.
In North America, a large number of consumer electronics providers are focusing on offering hybrid quantum dot displays in order to meet the increasing demands for flexible displays. In September 2017, Apple Inc. invented quantum dot hybrid pixels technology in order to offer power efficient displays that provide pure color.
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Cadmium-free Segment to Dominate the Global Quantum Dot (QD) Display Market
The material segment is divided into cadmium-containing and cadmium-free. Cadmium-free segment is anticipated to dominate the market owing to various benefits provides by cadmium free quantum dot displays around the globe. Eco-friendly nature, pure color, and wavelength tenability are some of the key factors driving massive global investment in cadmium-free quantum dot displays.
As cadmium is toxic in nature, several major OEMs have started launching products only using cadmium-free technology. Cadmium-free quantum dots offer vibrant color for liquid crystal displays (LCD). Hence, many electronic consumer devices manufacturers are offering cadmium free quantum dot displays in smartphones, tablets, TV’s, and laptop. These factors are expected to boost the growth of the quantum dot (QD) display market. Cadmium-free segment is anticipated to expand at the highest CAGR of over 24% during the forecast period of 2018 to 2026.
Implementation of Quantum Dot Displays in Medical Devices to Boost Growth of the Hardware Segment
The devices segment is fragmented into consumer electronics, medical devices, and others. Consumer electronics segment is expected to continue to be the leading segment globally during the forecast period due to rising implementation of quantum dot displays in various electronic devices such as televisions, laptops, tablets, smart phones, and monitors to deliver better picture quality. Also, demand for quantum dot displays is increasing in various medical applications. Quantum dot displays can also be used in the biomedicine sector to colorfully illuminate tumors in order to improve the safety and efficacy of cancer surgery.