Quantum Dot Market To Reach $5 Billion By 2020
Solar power and displays driving demand
The global quantum dot market produced a revenue of $316 million in 2013 and is expected to grow to around $5 billion by 2020 at a CAGR of nearly 30 percent, according to a new research report by Allied Analytics LLP.
Refinement of manufacturing technologies and mass production will mean that volume consumption will grow faster at 116.5 percent during the same period to reach 72 ton in 2020, says the report "˜Quantum Dot (QD) Market - Global Analysis, Growth, Trends, Opportunities, Size, Share and Forecast through 2020.'
Drivers for growth include efficient conversion of solar energy into power and rising use of volume-driven display devices. Additionally, the technology is more efficient than conventional technologies.
"The QD display market is set to grow exponentially as many companies such as Sony Corporation, LG Display etc. are getting into alliance with QD technology providers to commercialise QD displays, especially TV sets," note analysts Shreyas Naidu and Priyanka Gotsurve.
However, some factors such as high cost of technology and slow adoption due to extended research are serving as the restraints for the market growth. Although, mass manufacturing and bulk purchasing will quickly negate the cost constraints. The further penetration of the technology in newer applications such as security & defence, food, and packaging will provide the essential future growth thrust to the market.
North America has the highest revenue share due to early adoption. The region is expected to grow consistently and attain revenue of $1.92 billion by 2020. However, Asia-Pacific is expected to have the highest CAGR of 30.4 percent for the analysis period 2013-2020.
The report is available from researchandmarkets.com