The global quantum dots market was valued at USD 4,164.9 million in 2018 and is expected to reach USD xx million by 2026, growing at a CAGR of 15.3% during the forecast period.
Quantum dots enable display offers better color purity, higher resolution, and much better high dynamic range (HDR), and they more energy-efficient than conventional displays. The properties of quantum dots like wide excitation profiles and narrow emission spectra can provide a better resolution than traditional LED displays. Quantum dots have the ability to change the emitted light into different colors with greater efficiency. They also produce better display brightness for smart devices like smartphones, smart TVs, and tablets.
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Quantum dots apply a blue backlight and green & red filters for producing a pure white light, which can be transformed into better-looking colors. This technology requires fewer components for the LED or LCD filtering layer, which will help display manufacturers to drive up the brightness of the display. These factors will help the quantum dots (QD) enabled LED TV to achieve higher color accuracy of LED panels. These benefits of quantum dots will eventually drive their usage in HDR smart TVs.
Lack of awareness about the benefits of quantum dot technology is one of the major challenges faced by the quantum dots market. The adoption of quantum dots products is facing challenges in terms of shortages of rare earth materials and lack of industry standards. The market is also characterized by high competition due to the availability of different technology-based smart TVs like QLED TVs, HDR, OLED. Consumers are facing difficulties to make purchasing decisions owing to the availability of a wide range of energy-efficient display technologies. These factors result in the slow adoption of quantum dots technology.