The quantum dots market was valued at USD 1.96 Billion in 2017 and is expected to reach USD 8.47 Billion by 2023, at a CAGR of 26.97% during the forecast period. The base year considered for the study is 2017, and the forecast period is between 2018 and 2023.
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In this report, the quantum dots market has been segmented into products, materials, verticals, and geographic regions. On the basis of materials, the market has been segmented into cadmium-based and cadmium-free quantum dots. Cadmium-free quantum dots, by discarding harmful effects of toxic heavy metals, offer a safer and more sustainable option to manufacturers and consumers, giving them the color benefit associated with the technology without the risks of toxicity or potential regulatory limitations.
Based on products, the market has been segmented into QD displays, QD medical devices, QD solar cells, QD lasers, QD photodetectors/QD sensors, QD lighting (LED) solutions, batteries and energy storage systems, QD transistors, and QD tags. The market for QD lighting (LED) solutions is expected to grow at the highest rate during the forecast period. The incorporation of quantum dots into LED designs marks a vital step in reducing the cost of LED production and making them inexpensive for the average consumer.
The quantum dots market, based on verticals, has been segmented into healthcare, consumer, commercial, defense, telecommunications, and others. The consumer vertical is expected to continue to account for a major share of the quantum dots market in 2018. The rising adoption of products based on the latest technologies such as quantum dots, 4K resolution, 3D, along with decreasing prices of these advanced products, is expected to increase the quantum dots market in the consumer vertical during the forecast period. Thus, the use of quantum dots has grown in the last several years as this technology is providing manufacturers a cheap and efficient way of producing next-generation of brilliant, high-definition TV screens.
Based on regions, the quantum dots market has been segmented into North America, Europe, APAC, and Rest of the World. The quantum dots market in APAC is expected to grow at the highest CAGR during the forecast period. The reason for the high growth in APAC is the inclination of consumers to adopt technologically advanced products. Various universities and organizations in this region are involved in R&D of the QD technology. The University of Tokyo (Japan), the University of Tsukuba (Japan), and Hokkaido University (Japan) published their reports on QD. China, South Korea, and India are also playing an increasingly significant role in the research and development of nanotechnology.
Nanosys Inc. (US), Nanoco Group plc (UK), QD Laser, Inc. (Japan), NN-Labs, LLC. (US), and Ocean NanoTech (US) are the major companies in the quantum dots market. Nanosys is one of the significant players and ranked first in the quantum dots market in 2017. The company also has its focus on product launches and developments with respect to QD display technology, such as quantum dot enhancement film (QDEF), which enriches the visual experience of the viewers. Nanosys has a large number of patents, over 200, issued and pending worldwide. It entered into many agreements with many big giants to increase its revenue and expand its business. For instance, the company signed an agreement with Samsung (South Korea) in January 2015 to give access to its patents. The collaborations of the company with Philips-Lumileds (Netherlands) and Life Technologies (US) as well as with universities such as the Massachusetts Institute of Technology (MIT) (US), the Lawrence Berkeley National Labs (US), and the Hebrew University (Israel) has helped the company to broaden its product portfolio.
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