The quantum dot display market is predicted to grow at an astounding compound annual growth rate (CAGR) of over 30% to year 2027, thanks to the exponential growth of demand for high-definition display panels for electronic devices, states the latest report by Fact.MR.
Growing demand in downstream markets for energy-efficient display panels such as televisions, smartphones, tablets, personal computers and other electronics has forced OEMs and display manufacturers to build state-of-the-art displays capable of delivering maximum energy efficiency and much better colour quality.
Fact.MR’s report also finds that television monitors will dominate the quantum dot display segment with a six-fold growth over the next seven years. In addition, medical devices are also likely to drive the market, projected to see the highest growth rate of 47% owing to applications in medical imaging and sensors.
APAC holds a market share of over 45% in the global quantum dot display market, attributable to phenomenal growth of the consumer electronics and smartphone industry in the region.
The top four competitors are Samsung, LG, Sharp and CSOT (China Star Optoelectronics Technology), which cumulatively hold a market share of over 70%.
On the negative side, the Restriction of Hazardous Substances (RoHS) regulations related to the use of cadmium in consumer devices will negatively impact the growth of global quantum dot display market.
“The adoption of quantum dot displays in several downstream applications will balloon exponentially, irrespective of the environmental implication it carries,” states the report.
[Image credit: Z. Yu for Unsplash]