Quantum Dots Market Analysis, Opportunities, Size, Share, Trends, Competitive Analysis, Growth and Demand
The global quantum dots market was valued at $961.4 million in 2014 and it is expected to grow at a CAGR of 30.4% during the period 2015 - 2020. The global quantum dots market is increasing due to rising demand of nanotechnology in several industries. Quantum dot being one of the efficient technologies among its peers, its demand is increasing due to growing display based electronics market. The increasing urbanization and rising disposable income are further encouraging the growth of display based devices, as adoption of latest technology is becoming more affordable.
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Based on material, the Indium Arsenide (InAs) quantum dots market is expected to witness the highest growth (CAGR of 31.8%) during the forecast period. Among the application segments, optoelectronics led the quantum dots market in 2014 with the market size of $381.6 million. The electronics industry has made large strides in the recent years, which have been favorable for the display market as well. This has continuously boosted the demand for quantum dots. The growing acceptance of smart phones and tablet personal computers (PC) have skyrocketed the demand for quantum dots. The smart phone market is growing at an average annual growth rate of over 20%. The tablet PC market on the other hand grew at a CAGR of 52% during 2011-2013. The emergence of Organic Light Emitting Diode (OLED) televisions has further laid opportunities for the quantum dots. The LED television market is also growing at an average annual growth rate of 15%. Increasing photovoltaic industry is another important factor for quantum dots market growth.
The increasing disposable income across the globe is encouraging consumers to use more number of electronic products to increase their convenience level. However, at the same time, the increasing number of electronic devices in a household is also resulting in high electricity consumption. Since televisions are one of the basic electronics of a household, it becomes pertinent to reduce its power consumption. The developed countries have already upgraded their cathode ray tube (CRT) televisions and monitors with Liquid Crystal Display (LCD) and Light Emitting Diode (LED) televisions and monitors. The people in developing countries are also replacing their CRT based devices with new technology based devices, which is consequently driving the quantum dots market.
The increasing disposable income and rising standard of living of people in developing countries, such as China, India, and Brazil, are laying significant opportunity for quantum dots market. However, most of the electronics based products in Asia-Pacific are manufactured in Japan, China, and South Korea, and their market in the entire region is expanding. The smartphones, tablets, and television markets in Asia-Pacific have been rising at high pace; however, significant underpenetrated rural markets exist in the region, which can be catered in the near future. The growing demand for power in the region is escalating the photovoltaic industry, which is consequently increasing the demand for quantum dots. The increasing demand for energy efficient technology is also boosting the demand for quantum dots market.
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The key companies operating in the global quantum dots market include QD Vision, Inc., Quantum Materials Corporation, Nanosys Inc., QD Laser Inc., Nanoco Group Plc, Invisage Technologies Inc., Ocean Nanotech LLC, and NN-LABS LLC.
