Increasing Applications in Optoelectronics Sector to Promote Wide Commercialization of Quantum Dots, says TMR
The competitive rivalry in the global quantum dots market is anticipated to intensify in the coming years as the market inches closer to maturity. Large players are majorly focusing on research and development activities in the field of nanotechnology, states Transparency Market Research (TMR) in its new study. Life Technologies, QD Vision Inc., and Nanosys Inc. are the top three players, who collectively accounted for nearly 80% of the overall market in 2012.
“Heavy capital investments required in research and technology of quantum dots has raised the stakes of existing players as well as new entrants. These same factors pose high entry barriers for new entrants,” says the author of this research report. On the other hand, the supportive government regulations and large technology differentiation are expected to favor the new entrants.
North America Market to Lead Owing to Technological Advancements in Optoelectronics Sector
The global quantum dots market is expected to reach US$8.24 bn in 2019, expanding at a tremendous CAGR of 53.8% from 2013 to 2019. On the basis of application, the healthcare segment will lead the global market all through 2020. However, the optoelectronics segment is anticipated to surpass the healthcare segment by 2021. The growth of optoelectronics segment is being fueled by the increasing demand for high quality displays and energy-efficient technologies. However, quantum computing will expand at the most promising CAGR of 86.7% during the same period. Geographically, North America will continue to be the leading regional segment until 2023, accounting for 36.3% of the overall market. Due to technological developments in the field of optoelectronics and healthcare, the rest of the world (RoW) regional segment will also show a positive outlook during the forecast period.
Growing Demand for Energy-Efficient Solar Cells to Increase Adoption of Quantum Dots
Most of the commercially available panels today are only 10%-20% efficient of their overall capacity and to harness high amount of power from them, their surface area needs to be large. “Quantum dots have the ability to tackle this problem of energy efficiency and due to their nano-sizes, they also address the issues regarding surface area,” says a TMR analyst. Therefore, the increasing usage of quantum dots in production of solar cells is likely to drive the global quantum dots market.
Moreover, governments promoting optimum power consumption in display products are fueling demand for energy-efficient displays and lighting solutions. This, in turn, is fuelling demand for quantum dots. Furthermore, the burgeoning demand from healthcare sector owing to increasing application of the quantum dots in different medical applications including in-vivo imaging, cell tracking, and tissue mapping is anticipated to propel the growth of the market.
Restriction on the Use of Heavy Metals to Hamper Production of Quantum Dots
The quantum dots market is still at its nascent stage. The inability of quantum dots to ensure reliable supply of raw materials for industrial production, high cost of manual production, and lack of batch uniformity in production have limited their adoption. Moreover, their production involves usage of toxic materials such as zinc, selenium, and cadmium, which can potentially degrade soil quality. Despite significant use of quantum dots for biomedical and healthcare applications, their toxic nature have made their usage in treatments questionable. Furthermore, several governments across the world are restricting the use of heavy metals including cadmium in electrical and electronic equipment. Therefore, this factor is likely hamper the growth of the global quantum dots market.
However, with advancements in research and technology, the increasing application of the quantum dots in domains such as solar energy, optoelectronics, and VLSI designs is estimated to present viable growth opportunities to the quantum dots manufacturers.
The information presented in this review is based on a Transparency Market Research report, titled, ‘Quantum Dots Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2023.’
The global quantum dots market can be segmented as follows:
Quantum Dots Market, by Application
- Health Care
- Flow Cytometry
- Biological imaging (in-vitro, in-vivo, and so on)
- Drug Delivery
- Cell Tracking
- Photodynamic Theory
- Quantum Computing
- Quantum Optics
- Security & Surveillance
Quantum Dots Market, by Products:
- QD Medical Devices
- QD LED Displays
- QD Lasers
- QD Solar Cells
- QD Chips
- QD Sensors
- QD Lighting
Quantum Dots Market, by Raw materials
- Cadmium Selenium
- Cadmium Tellurium
- Non Toxic (Cadmium Free)
- Others (InAs, InGaAs, PbS, and so on)
Quantum Dots Market, by Geography:
- North America
- Asia Pacific
- Rest of the World (Latin America, Middle East and Africa)
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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