New York, US, May 23, 2022 (GLOBE NEWSWIRE) -- Quantum Dot Display Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Quantum Dot Display Market” information by Material, by Product, by Application and Region – Forecast to 2030” market size to reach USD 320 billion, growing at a compound annual growth rate of 25% by 2030.
Quantum Dot Display Market Scope:
The increasing adoption of quantum dot display in the packaging sector for monitoring automated processes and the healthcare industry for patient monitoring and for monitoring security camera feeds will offer robust opportunities for the market over the forecast period.
Dominant Key Players on Quantum Dot Display Market Covered are:
- LG Display Co. Ltd. (South Korea)
- Samsung Electronics Co. Ltd. (South Korea)
- Sony Corporation (Japan)
- Sharp Corporation (Japan)
- 3M Company (U.S.)
- Microvision Inc. (U.S.)
- Evident Technologies Inc. (U.S.)
- Altair Nanotechnologies Inc. (U.S.)
- Quantum Materials Corporation (U.S.)
- Nanosys Inc. (U.S.)
- QD Vision Inc. (U.S.)
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Market USP Exclusively Encompassed:
QD Display Market Drivers
The growing need for QD-enhanced LED displays amid the global population will boost market growth over the forecast period. The surging need for QLED displays is owing to the increasing energy-efficiency, better brightness, and more vibrant colors.
Limited Accessibility of Rare Earth Materials to act as Market Restraint
The limited accessibility of rare earth materials coupled with high costs of system may act as market restraints over the forecast period.
Strict Government Regulations to act as Market Challenge
The strict government regulations to use cadmium as well as other heavy metals in the electronic display may act as a market challenge over the forecast period.
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Segmentation of Market Covered in the Research:
The global quantum dot display market is bifurcated based on material, application, and product.
By material, cadmium free material will lead the market over the forecast period.
By application, consumer electronics will dominate the market over the forecast period.
By product, the quantum dot display market is segmented into TV, tablet PC, computer monitors, and smartphones.
Regional Analysis
North America to Remain Forerunner in Quantum Dot Display Market
North America now leads the market and will continue to do so throughout the evaluation period. The market is expected to develop due to factors such as the high demand for QLED displays as well as the quick adoption of quantum dot technology. Due to the widespread adoption of QLED displays, the US market has the biggest share in the market in the area. In addition, the market is influenced by the huge presence of technology providers and the expanding investments in research and development. Because of various technological developments and increased investments in the electronics sector in the region, North America had the biggest revenue share in 2017. Several North American players are developing and focusing on supplying sophisticated items to consumers as the demand of high-brightness large-screen displays develops. Several consumer electronics businesses in North America are concentrating on developing hybrid quantum dot displays in order to meet the burgeoning need for flexible displays. In September 2017, Apple Inc. introduced quantum dot hybrid pixels technology to generate power-efficient displays having pure colour. The consumer electronics that need a flexible display will benefit from this technology. In addition, a number of medical breakthroughs and rising investments are supporting the North American sector in generating significant profits.
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In 2017, the US had the largest market share in North America, and it is expected to develop at a rapid CAGR over the forecast period. During the projection period, the region is predicted to develop at a substantial CAGR of 24.2 percent. Due to expanding interest in cadmium-free quantum dots especially in consumer electronics in this region, there is a growing demand for energy-efficient gadgets. The market is growing because the region possesses a well-established infrastructure that allows for easy deployment of sophisticated technology. The United States and Canada, both urbanized countries, are the two largest contributors in the market. Because of its quick adoption of QD technology, the United States has a high demand for QLEDs. Increased population awareness of health and fitness is expected to drive regional demand for QDs in bio-imaging and medical applications. The United States is likely to draw significant business investment as well as a high level of research activity in the development of technologically advanced nanoparticles and also their integration into display systems.
Europe to Have Significant Growth in Quantum Dot Display Market
Europe will have significant growth in the quantum dot display market over the forecast period. The existence of several noteworthy players & big deployments of quantum dot LED display, quantum dot display, & quantum dot LCD display in PC monitors, smartphones, tablets, & televisions drive the European quantum dot display industry. The usage of cadmium-free quantum dot displays is fast growing in Europe, after a resolution by the European Parliament in 2015 to prohibit the use of cadmium in display & lighting applications. In 2017, the United Kingdom had the largest proportion of the European quantum dot display market.
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COVID-19 Impact on the Global Quantum Dot Display Market
The COVID-19 epidemic possessed a significant effect on the quantum dot display market, resulting in big revenue losses & the closure of different manufacturing plants around the world. On the one hand, the coronavirus-induced shutdown halted production of a number of critical materials and components in the global market. As a result, QD display makers have faced challenges ranging from sourcing raw materials to luring workers from quarantine, and cross-border trade amid countries has been banned. Lockdown limitations and work-from-home rules, on the other hand, increased sales of different consumer electronics items such as laptops, PCs, and televisions. As a result, the market is gradually reviving and witnessing a slew of new product introductions.
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