QLED Display Market Outlook - 2027
QLED (Quantum dot light emitting diode is an advanced display technology that uses photoluminescent quantum dots to emit light. Quantum dots are nanoscale crystals that can transmit electrons when exposed to ultraviolet light. These semiconducting particles can emit light of different colors. QLEDs have high scope in next generation electronic displays and optical communication technology. They produce precise color with better accuracy in picture resolution and tunable color solution to display.
QLEDs demonstrate better contrast ratio than conventional liquid crystal displays (LCD) or light emitting diode (LED) as they are energy-efficient with longer lifespan. This technology is in high demand in the healthcare and consumer electronics sector, owing to features such as light-weight, ultra-thin and flexible infrastructure which produces high resolution images. QLED displays are highly praised for their viewing quality and offer the best viewing angle. Innovations in this unique quantum dot technology enhances product standard and quality in the market. Due to extensive use of this technology, the QLED display market share is expected to grow at a significantly high rate in the future.
COVID-19 IMPACT ANALYSIS:
- The emergence of coronavirus, a deadly respiratory disease that originated in Wuhan, became a serious health threat worldwide. China being the main manufacturing hub of electronic goods has been adversely affected due to the COVID-19 outbreak, owing to substantial slowdown in manufacturing operations. In February 2020, the electronic display industry was already facing shortage of components, which are mainly imported from China. This has affected the overall QLED display market in the region.
- The ongoing pandemic has also taken adverse toll on consumer demand for display integrated devices. In April 2020, Panasonic India reported that the consumer electronics industry is expected to witness 50% loss in sales during April to June, attributed to the lockdown. Annual demand of consumer electronics has also dropped by an unprecedented 6-7%.
- Increase in demand for displays in the healthcare sector such as ventilators and respirators is expected to propel the market growth in the coming months. In December 2019, LG Electronics introduced 31.5-inch 8MP radiology monitor, which is a larger, higher resolution surgical monitor. It uses LG Nanocell IPS Display technology to provide advanced performance and precisely accurate image quality. Therefore, growth in demand for such enhanced monitors in the healthcare sector is expected to boost the market.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Rise in adoption of ultra-HD and smart displays such as smartphones and TVs; affordability and easy-availability of raw materials for QLED technology; and surge in implementation of quantum dots in display and lighting act as major drivers for the QLED display market analysis. However, stringent government regulations regarding use of toxic cadmium compounds and other heavy metals in manufacture of quantum dots technology; intense competition; comparatively lower response time than OLEDs; and maintenance issues due to lack of skilled workforce are some major factors that hamper the QLED display market growth.
Furthermore, due to ongoing improvements in QD performance, it is being widely adopted for medical imaging as an alternative to fluorescent probes in the healthcare and defense services. In addition, innovations in this flexible display technology is expected to offer lucrative opportunities for the QLED display industry players from the sports and entertainment industry.
New product launches to boost the market growth
Launch of new products with improved competitive capabilities such as larger screen and brighter images with vivid colors have been introduced by key market players to enlighten user-viewing experience.
Technology breakthroughs in the display industry are able to produce innovative consumer products every year. For instance, in April, 2020, Samsung, a South Korean multinational conglomerate, unveiled its flagship Q950TS QLED 8K TV, which comes with 8K AI upscaling abilities, AI quantum processor, voice assistance, and various other features. This QLED display is assisted with an ultra-thin form factor and an infinity screen with ultra-thin bezel producing 99% body to screen ratio. Therefore, new product launches by market leaders in the QLED display industry is opportunistic for the QLED display market trends.
Surge in use in automotive and industrial applications
Manufacturers are focused on producing new products for specific applications. Use of high-quality, high performance QD-enhanced LED techniques for displays in automotive vehicles is expected to undergo a significant revolution.
In January, 2020, Sony launched its new Vision-S, which comes with intuitively operated panoramic screens, 360 reality audio in speaker with incorporated AI and cloud technologies. The panoramic screen stretches across the front dashboard. Consumers would get the same kind of visual experience that they get on their personal electronics. QLED display within automotive with direct-lit backlight technology allows increased power savings. This cost-effective and scalable solution offers flexible light to the automotive industry, thus promoting growth opportunities.
Key benefits of the stakeholders:
- The study gives an analytical overview of the QLED display market with current trends and future estimations to determine imminent investment pockets.
- The report analyses information related to key drivers, restraints, and opportunities along with detailed QLED display market analysis.
- The current market is quantitatively analyzed.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
Questions answered in the QLED Display Market research report:
- Who are the leading players in the QLED display market?
- What are the current trends that would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
- What would be the detailed impact of COVID-19 on the market?
QLED Display Market Report Highlights
By Industry Vertical
Key Market Players
LG Display Co. Ltd., Dow chemical company, Ocean Nanotech LLC, InVisage Technologies, Sony Corp., Quantum Materials Corp., Nanosys Inc., Others, TCL Corp., Nanoco Group plc, Microvision Inc.