By Will Soutter
MarketsandMarkets has released a new research report titled ‘Quantum Dots (QD) Market - Global Forecast & Analysis (2012 - 2022).’
The report predicts that the market for quantum dots will grow at 55.2% CAGR between 2012 and 2022, reaching a value of $7480.25 million in 2022. Quantum Dots are semiconductor nanoparticles having a size range between 2 and 10 nm. They have been the subject of extensive research and have high flexibility and versatility because of their miniature property. Their power intensity relies on their size and input source.
Since excitons can be confined in semiconductors in many ways, there are various techniques available for quantum dot production. Usually, quantum dots, wells and wires are grown by sophisticated epitaxial methods in nanodevices fabricated by advanced lithographic methods, or in nanocrystals fabricated by chemical processes or by ion implantation.
The healthcare industry represents a major share in the quantum dot technology market. Quantum dot-based devices provide the high accuracy needed for the healthcare industry in tumor detection, cancer, tissue labeling and much more. Companies operating in the lighting industry are seeking an alternative solution for LED lighting. Quantum dot lighting will meet the requirement as it is cost effective and has high efficiency.
Quantum dot technology will also have a significant value in the solar power-related industry. Scientists have devised quantum dot-based solar cells with half the efficiency of traditional solar cells. University of Toronto researchers have developed colloidal quantum dot-based solar cells with 4.2% conversion efficiency. Research is going on to develop quantum dot-based paint capable of harvesting solar energy when applied on walls or panels.
The largest market for quantum dot technology is the Americas. Europe is the second largest followed by APAC. Middle East and Africa represent a significant share in the market of ROW.