LONDON, March 15, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the quantum dot market, the growing demand for smart televisions and mobile phones is expected to propel the growth of the quantum dot market. A smart television is an internet-based TV set on which a user can perform web surfing from a browser. Tiny semiconductor particles or nanoscale crystals of a semiconducting material that have unique optical and electronic properties are mainly used in TVs and mobile phones. According to USA Today, in the first half of 2020, sales of smart TVs of 65 inches and larger were up 50% (in units). Therefore, the growing demand for smart televisions and mobile phones is driving the growth of the quantum dot market.
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The global quantum dot market size is expected to grow from $4.70 billion in 2021 to $6.03 billion in 2022 at a compound annual growth rate (CAGR) of 26.35%. The change in the quantum dot market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $14.68 billion in 2026 at a CAGR of 25.02%.
Increasing R & D investments is a key trend gaining popularity in the quantum dot market. Many companies are nowadays exploring new technologies and undertaking research in the quantum dot display market. For instance, in October 2020, Samsung Electronics, a South Korea-based producer of electronic devices, through their R & D hub, Samsung Advanced Institute of Technology (SAIT), developed blue Quantum Dot light-emitting diodes (QLEDs). These quantum dots deliver improved luminous efficiency by 20.2%, having a maximum luminance of 88,900 nits and a 16,000-hour QLED lifetime.
Major players in the quantum dot sensor market are Crystalplex Corporation, InVisage Technologies, LG Display Co. Ltd., Nanoco Group plc, NanoPhotonica, Nanosys Inc., Navillum Nanotechnologies, Nexxus Lighting, NN-Labs LLC, Ocean NanoTech, Osram Licht AG, QD Laser, Quantum Materials Corp., Samsung Electronics Co. Ltd., Sony Corporation, Thermo Fisher Scientific Inc., DuPont, 3M Company, Apple Inc., Life Technologies, Merck Group, Nano Elements Source, LLC, Pacific Light Technologies, Sigma-Aldrich Co., Techinstro and Intelligent Materials Private Limited, and Ultra Nano Tec.
The global quantum dot market is segmented by material into Cadmium Selenide (CdSe), Cadmium Sulfide (CdS), Cadmium Telluride (CdTe), Indium Arsenide (InAs), Silicon (Si), others; by vertical into consumer, commercial, telecommunications, healthcare, defense, others; by application into medical devices, displays, solar cells, photodetectors sensors, lasers, LED Lights, batteries and energy storage systems, transistors, others.
As per the quantum dot market forecast in 2021, North America was the largest region in the market. Asia-Pacific is expected to be the fastest growing region in the quantum dot market. The regions covered in the quantum dots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Quantum Dot Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide quantum dot market overviews, quantum dot market analyze and forecast market size and growth for the whole market, quantum dot market segments and geographies, quantum dot market trends, quantum dot market drivers, quantum dot market restraints, quantum dot market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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