LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global quantum dots market to be worth USD 9.98 billion by 2021, growing at a CAGR of more than 120% over the forecast period, according to their latest report.
The research study by Technavio on the global quantum dots market for 2017-2021 provides a detailed industry analysis based on applications and geography (APAC, the Americas, and EMEA).
Quantum dots (QD) are nanocrystals made of semiconductor materials, which can be tuned according to the requirement of absorption wavelength or emission. APAC is the leading revenue generator of the global quantum dots market, occupying over 90% of the overall shares.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global quantum dots market:
- Increasing demand for 4K UHD TVs
- Growing interest in cadmium-free quantum dots
- Requirement for energy-efficient devices
Increasing demand for 4K UHD TVs
“4K UHD televisions have superior optical displays with a wide field of view. The demand for such televisions is on the rise, with a growth rate of over 615% in 2014. The displays of these televisions are integrated with quantum dots, which is driving market growth,” says Sunil Kumar Singh, a lead analyst at Technavio for embedded systems research.
In 2015, the UHD Alliance was formed to encourage technologies such as 4K and high resolutions, high dynamic range, immersive 3D audio, and wide color gamut. This is encouraging value chain members to be part of the UHD Alliance and develop quantum-based displays capable of producing and reproducing more of the visible color spectrum as provided by the OLED or quantum-based LED or LCD TVs.
Growing interest in cadmium-free quantum dots
Global environmental regulations such as RoHS (restriction of hazardous substances), REACH (registration, evaluation, authorization and restriction of chemicals), and TSCA (Toxic Substances Control Act) have set limitations on the amount of cadmium, mercury, and lead that can be used in consumer electronic devices. This has resulted in the development and manufacture of cadmium-free quantum dots by vendors such as Dow Chemical Company, Nanoco, Nanosys, and Quantum Material. The cadmium-free QDs are environmentally friendly and efficient, which is pushing for their increased adoption in the market.
Requirement for energy-efficient devices
Consumer electronic devices account for around 15% of the energy consumption in normal households. Governments are looking for more eco-friendly sources of energy and efficient devices to cut down on the total energy consumption and combat global warming.
“Quantum dots are highly energy efficient, which makes it extremely suitable to be used in energy efficient consumer electronic devices. It needs 30% lesser power to work, which not only saves energy but also extends the life of the device on a single charge,” says Sunil, explaining the factors pushing for the increasing adoption of QD in electronic devices.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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