Quantum Dots Market Could Hit $8,246.8M by 2023
ALBANY, N.Y., Aug. 4, 2014 — The global quantum dots market is growing and experts project it could reach $8,246.8 million by 2023.
A recently released Transparency Market Research report focuses on the analysis, size, share, growth, trends and forecasts for the global market for 2013 through 2023. The new monetary projection represents a compound annual growth rate of 53.8 percent during this period, according to the report.
The market for quantum dots — nanocrystals that have shown effectiveness in applications such as solar cells, LEDs and diode lasers — continues to see growth as a result of increasing demand for energy efficient displays and lighting solutions, as well as electroluminescent displays for next generation technologies.
Quantum dots are also facing increased demand within the healthcare sector, according to the report, as they have been found effective in a wide range of medical applications, including drug delivery, cell tracking and biological imaging.
While the healthcare industry accounted for 77.4 percent of the quantum dot market’s overall revenue in 2012, the recent report found that the optoelectronics market will surpass this. Experts anticipate that optoelectronics will see a compound annual growth rate of 71.5 percent between now and 2023.
Additionally, the LED display segment within the quantum dots market is also expected to swiftly grow — its compound annual growth rate is projected at 85.4 percent through 2023.
For more information, visit www.transparencymarketresearch.com/quantum-dots