Our dynamic world is advancing at a fast pace, and with rapid technological development, a better lifestyle is promised to the expanding populace. But to provide a better lifestyle, the basic necessities have to be met, one of which is energy. Energy consumption will increase manifold in the coming years with the ever rising population. But how do we suffice this need when the concern over depleting environment is a priority? The answer an alternative to fossil fuels for energy production and use of energy efficient devices. Quantum dots is an emerging technology which is the product of high vacuum growth reactors. With the use of this reactor, atom’s layers are deposited in a precise sequence. The atoms used in this process results in the formation of quantum dots.
Quantum dots are in the form of crystals which can effectively convert light from one color to another. With the introduction of numerous layers of quantum dots in active region of a solar cell, the spectral response of the cell is extended for absorption of more sun’s radiation, which is then converted into electricity. Several advancement in the quantum dots technology has enhanced its adoption rate in myriads of applications. The global quantum dots market is estimated to reach $7.8 billion by 2022 at a CAGR of 46.4% through 2017 to 2022. This significant growth is due to the growing demands of quantum dots in the developing countries which are a potential market for it, with ample opportunities.
There is huge demand of quantum dots in display devices due to its effectiveness in changing colors, as well as its energy efficiency feature. These factors are acting as a catalyst for the quantum dots market. However, restricted rate of adoption of this technology and utilization of heavy metals as raw material are major factors for limiting the growth of the global quantum dots market.
In terms of revenue, cadmium selenide held the major share of 31% in the global quantum dots market in 2016, however, inidium serenade is expected to grow at the highest rate in the coming years. By application, QD display holds the largest share of 44% in the global quantum dots market, whereas it is QD solar cells segment which is expected to rise at a significant CAGR in the coming years. Among applications in several industries, healthcare generates the highest revenue for the global market, however consumer applications is expected to grow at the highest rate in the coming years. Quantum dots have been used extensively in the healthcare segments due to numerous advantages over conventional organic dyes, broad excitation and narrow emission technology. Consumer application generally covers devices such as flat screen TVs, DVD players, video games, electronic toys and smartphones among others.
Geographically, North America was leading the global quantum dots market in 2016, followed by European countries. Asia Pacific is expected to generate significant amount of revenue in the coming years, however this region is still an emerging market for quantum dots. BIS Research has compiled an extensive market research report on ‘Global Quantum Dots Market, Analysis and Forecast: 2017-2022’. The market analysis report provides an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry.
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