Exponential growth in demand for high definition display panels for electronic devices is powering the quantum dot display market ahead, with growth pegged at an astounding CAGR of over 30% during the forecast period (2019 – 2027). 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 increasing color quality.
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Key Takeaways of the Quantum Dot Display Market Study
- Television monitors dominate the quantum dot display application segment with the segment growing 6X during the forecast period. Such growth is accredited towards a better color gamut and economical displays that quantum dot technology offers.
- The medical devices segment is projected to witness the highest growth rate of 47% owing to the utilization of quantum dots in medical imaging and sensor applications
- APAC holds a market share of more than 45% in the global quantum dot display market, attributable to phenomenal growth of the consumer electronics and smartphone industry in the region
- The quantum dot display market is consolidated in nature with top four competitors namely Samsung, LG, Sharp and CSOT (China Star Optoelectronics Technology) together holding a market share of more than 70%
- 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
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“The adoption of quantum dot displays in several downstream applications will balloon exponentially, irrespective of the environmental implication it carries.” says the Fact.MR analyst
Competitors Emphasizing on Product Innovations and Varying Pricing Strategy
The quantum dot display market is still at its infancy, with plenty of room for improvement. Manufacturers are thus channelizing their efforts in developing new technologies and products using quantum dot display to gain a competitive edge in the global market. Pricing strategy among manufacturers is at the cusp of a major change with implementation costs falling and new pricing options being more viable. Several competitors have seized the opportunity to create a product range spanning different price ranges.
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