Pune, Aug. 28, 2024 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “The Quantum Dot Market Size was valued at USD 5.73 billion in 2023, and is expected to reach USD 24.24 billion by 2032, and grow at a CAGR of 17.48% over the forecast period 2024-2032.”
"Advancements in eco-friendly technology drive increase in market for quantum dot solar cells"
The quantum dot market is experiencing significant growth driven by advancements in eco-friendly technology. Traditional solar cells using lead and cadmium quantum dots have posed environmental and health concerns. However, recent innovations, such as those from Los Alamos National Laboratory, are shifting the focus to zinc-doped copper indium selenide quantum dots. These new cells offer enhanced defect tolerance and improved efficiency, with photo conversion rates reaching up to 85%. Supported by U.S. Department of Energy funding, this development is expected to propel market expansion and advance sustainable solar energy solutions.
Quantum Dot Technology Improves Energy Efficiency and Boosts Agricultural Productivity.
The quantum dot market is growing quickly because of its various uses in renewable energy, smart buildings, and agriculture. The U.S. Air Force notably backs UbiQD's solar windows with quantum dots, combining energy generation with see-through properties. These windows have the potential to reduce yearly energy expenses by $50 billion in the United States, where windows make up 30% of heating and cooling expenses. Moreover, UbiQD's quantum dot panels are enhancing crop production in greenhouses by optimizing light for plant growth.
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Key Players
- Nanosys
- crystal US Corporation
- Merck Group
- OSRAM Licht
- Samsung electronics
- Nanoco
- QD Laser
- NanoPhotonica
- Crystallex Corporation
- DuPont
- LG Electronics
- UbiQD, Inc.
- QDI Systems
- Thermo Fisher Scientific Inc.
- Ocean Nanotech
- QustomDot BV
Quantum Dot Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 5.73 Billion |
| Market Size by 2032 | USD 24.24 Billion |
| CAGR | CAGR of 17.48 % From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Material (Cadmium-Based, Cadmium-Free) • By Product (Displays, Other) • By Production (Plasma Synthesis, Colloidal Synthesis) • By Vertical (Consumer, Healthcare, Telecommunications, Commercial, Defense, Others) |
| Key Drivers | • Advancing Solar Energy Innovation with Quantum Dots Driving Sustainability in the Market. • Government assistance and international competition are fueling the expansion of the quantum dot market. |
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"In 2023, Cadmium-Based Quantum Dots are leading the display industry with cutting-edge innovation and exceptional performance."
In 2023, the market was dominated by cadmium-based quantum dots, renowned for their outstanding performance and flexibility, holding a majority share of 58%. Highly appreciated for their outstanding photoluminescence and color purity, they play a critical role in high-resolution displays and advanced applications. NNCrystal US Corporation is focused on driving growth through innovations in OLED color conversion, while Samsung Electronics is concentrating on advancements in QLED TVs. The importance of cadmium-based quantum dots is highlighted by their usage in top-notch displays and new technologies.
The quantum dot market was mostly controlled by the display sector in 2023, taking up 61% of the market due to the need for higher display standards. Quantum dots improve color precision, brilliance, and energy effectiveness. Nano Pattern Technologies raised more than USD 1.5 million for its quantum dot ink that can be patterned with photos, which will transform display manufacturing for VR, AR, and smartphones. At the same time, global advancements in quantum dot displays are being showcased by Samsung's new QLED TVs, as well as by LG Display and BOE Technology Group.
"Strategic Innovations and Investments Drive Quantum Dot Market in Asia Pacific and Europe"
In 2023, the Asia Pacific region led the quantum dot market with a 36% share and is expected to maintain this position. Key figures from China, Japan, and India are propelling progress in quantum dot technology. Canon's new OLED material, introduced in May 2023, reduces reliance on rare metals. Meanwhile, BOE Technology Group is advancing quantum dot displays, and Sharp Corporation is enhancing LCD panel efficiency, highlighting Asia Pacific's focus on technological and material innovation.
In 2023, Europe accounted for 24% of the quantum dot market, propelled by robust government backing and strategic investments. Technological progress and important industry collaborations are fueling this expansion. In September 2022, SICPA and UbiQD joined forces to create high-tech security inks utilizing quantum dot technology to fight counterfeiting and enhance tracking procedures. Europe's dedication to improving screens and safety demonstrates its strategic growth in the field.
Recent Development for Quantum Dot Market
- In February 2024, Diraq secured more than USD 15 million in Series A-2 financing to further develop silicon quantum dot computing technology.
- In November 2023, Intel revealed a quantum-dot silicon chip with 12 qubits.
- In October 2023, Samsung Semiconductor India and IISc inaugurated a Quantum Technology Type Lab.
- In January 2022, Sony introduced the first QD-OLED TV in the world.
- In October 2022, advanced quantum dot security inks were launched by SICPA and UbiQD; then, in February 2022, UbiQD unveiled the UbiGro quantum dot technology for use in greenhouses.
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Key Takeaways for Quantum Dot Market
- Make use of data and insights for entering the market, developing products, investing, and forming strategic partnerships.
- Recognize obstacles and potential dangers to create plans for minimizing vulnerability.
- Uncover new market segments and uses for quantum dots to increase opportunities.
- Allocate resources to the most advantageous areas as indicated by the report findings.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Quantum Dot Market Sales Volumes, by Region (2023)
5.2 Quantum Dot Technology Trends (Historic and Future)
5.3 System Deployment Trends and Capacity Utilization (2023)
5.4 Supply Chain Metrics
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.4 Strategic Initiatives
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Quantum Dot Market Segmentation, by Material
7.1 Chapter Overview
7.2 Cadmium-based
7.3 Cadmium-free
8. Quantum Dot Market Segmentation, by Product Type
8.1 Chapter Overview
8.2 Display
8.3 Others (Lasers, solar cells, and others)
9. Quantum Dot Market Segmentation, by End-User
9.1 Chapter Overview
9.2 Consumer
9.3 Healthcare
9.4 Telecommunications
9.5 Commercial
9.6 Defense
9.7 Others
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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