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(IT-NEWSWIRE.COM, May 11, 2024 ) The quantum dot market size is estimated to be worth USD 10.6 billion in 2024 and is projected to reach USD 23.9 billion by 2029, growing at a CAGR of 17.7% during the forecast period. The increasing adoption of quantum dots in display applications is expected to drive the market growth of quantum dots. Furthermore, the surge in adoption of quantum dots in biological and medical imaging is anticipated to provide growth opportunities for market players that offer quantum dot devices.
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Quantum Dots play currently, play a pivotal role in emerging technologies, particularly in self-emitting quantum dot displays and their integration into image sensors. Their distinctive characteristics, such as color adjustability, precise color emission, and superior luminescence efficiency, make them ideal for self-emitting displays. Moreover, quantum dots are incorporated into image sensors to enhance their capabilities, enabling visible-light phototransistors and photosensors that drive the functionality for IoT applications. These developments underscore the critical impact of quantum dots on advancing display technology and image sensor innovation, which is expected to create growth opportunities for market players offering quantum dots and quantum dot devices in the next five years.
The quantum dot displays market is anticipated to have the largest market size during the forecast period. The expansion of this market is primarily driven by the unique capability of quantum dots to convert light from one color to another. Furthermore, quantum dots enhance the efficiency and color accuracy of displays by producing narrow-spectrum green and red light, thereby reducing light absorption by color filters. Quantum dots also enable cost-effective thin-film deposition techniques on displays by reducing the reliance on expensive fabrication methods.
The defense vertical is anticipated to have the highest CAGR in the market during the forecast period. This is attributed to the researchers actively developing new technologies to safeguard space assets and address challenges posed by anti-satellite (ASAT) missile systems. Furthermore, photoluminescent quantum dots are well-suited for developing coding materials due to their high photostability and brightness. The ability to tune the wavelength of emitted light also makes quantum dots ideal for various security applications.
Key Market Players:
Key players in the quantum dot market with a strong geographical presence are AUO Corporation (Taiwan), BOE Technology Group Co., Ltd. (China), SAMSUNG DISPLAY (South Korea), LG DISPLAY CO., LTD. (South Korea), and TCL China Star Optoelectronics Technology Co., Ltd. (China).These players focus on organic and inorganic growth strategies to strengthen their position in the quantum dot market.
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