According to a new report published by Allied Market Research, titled, “quantum dot sensor market by type, application, and industry vertical: global opportunity analysis and industry forecast, 2021–2030,” the global quantum dot sensor market size was valued at $197.7 million in 2020, and is projected to reach $539.9 million by 2030, registering a CAGR of 11.6% from 2021 to 2030.
Quantum dots (QD) are nanoscale semiconductor crystals (size: 2-10 nm) with unique optical and electronic characteristics. It has a wide absorption spectrum and narrow emission bands, which makes them suitable for various applications such as cell imaging, environmental monitoring, biological marker detection, and food safety analysis.
Strong point for QDs lies in high resolution infrared (IR), especially short-wave IR (SWIR) photosensors. Moreover, it can also be used in visible photodetectors, thereby enabling high-resolution global shutter sensors. Leading quantum dot sensor had 100k quantum dot photo sites, compared to 2+ millions of regular HD.
Significant factors that impact the quantum dot sensor market growth include rise in demand for improved sensor technologies, miniature size allows flexibility, and surge in consumer electronic product applications. However, extended research leading to slow adoption and inconsistent size and instability of quantum dots hamper the market growth. On the contrary, penetration in futuristic quantum dot applications is expected to offer lucrative opportunities for the quantum dot sensor market during the forecast period.
COVID-19 not only impacted operations of various quantum dot sensor manufacturers companies but also affected the budget of industry verticals. The pandemic's immediate impact on revenues has made every organization re-evaluate investment in new technologies that have a borderline impact on revenue and margin growth or cost reduction, thereby impacting the quantum dot sensor market growth. However, the market is anticipated to witness substantial growth post recovery from the pandemic.
Region wise, North America holds a significant share in the global quantum dot sensor market revenue. U.S. dominates the market share in this region, owing to presence of several leading manufacturers in the region. In addition, considerable investments for commercializing quantum dot technology has also contributed toward quantum dot sensor market growth in the region.
Key Findings Of The Study
- In 2020, the piezoelectric type segment accounted for maximum revenue, and is projected to grow at a notable CAGR of 13.5% during the forecast period.
- The surveillance cameras and medical imaging devices segments together accounted for more than 45.0% of the quantum dot sensor market share in 2020.
- The automotive segment of the quantum dot sensor market is projected to grow at a CAGR of 15.6% during the forecast period.
- North America contributed major share in the quantum dot sensor market, accounting for nearly 50.0% share in 2020.
The key players profiled in the report include Apple Inc. (InVisage Technologies Inc.), Nanoco Group PLC, Samsung Group (QD Vision), Merck Group, Teradyne Inc., NN-Labs, Ocean NanoTech, LLC, OSRAM Opto Semiconductors GmbH, Nanosys, and Quantum Solutions. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the quantum dot sensor industry.