According to a new market report published by Transparency Market Research “Quantum Dots Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2023,” the market was valued at USD 88.5 million in 2011, which is expected to reach USD 8,246.8 million by 2023, growing at a CAGR of 53.8% from 2013 to 2023.
Increasing demand for energy efficient displays and lighting solutions is the major force driving the quantum dots market. In the field of electroluminescent displays, light emitting quantum dots are preferred for next generation displays as they offer improved color purity, brighter images, and energy efficiency. In addition, regulated demand from healthcare sector is expected to have positive impact on the demand of quantum dots over the forecast period. This can be attributed to the increasing use of quantum dots in wide range of medical applications including drug delivery, cell tracking, and biological imaging among others. The use of quantum dots in solar cells and VLSI (Very Large Scale Integration) design is expected to open new possibilities for quantum dots market in coming years.
Healthcare segment accounted for 77.4% of the overall revenue in 2012. However, optoelectronics segment is expected to surpass the healthcare quantum dots market, growing at the fastest CAGR of 71.5% from 2013 to 2023. Superior capabilities in terms of operating life, energy efficiency, and color quality of the emitted light make quantum dots preferred technology to be used in displays and lighting solutions.
In addition, unique optical properties exhibited by quantum dots have made them attractive semiconducting material. In terms of products, the QD medical device segment held the highest market share, and was valued at approximately USD 68.5 million in 2012. The QD LED display segment is expected to grow at the highest CAGR of 85.4% from 2013 to 2023 due to tremendous growth expected in optoelectronics segment. North America was the market leader in 2012, and Asia Pacific is expected to be the fastest growing region, with an expected CAGR of 55.4% from 2013 to 2023. The growth in the region is attributed to growing demand from solar energy and optoelectronics application segments.
ST Staff Writers
This post was prepared by Solar Thermal Magazine staff.