[219+ Pages Report] According to a Facts and Factors report, the global quantum dot solar cells market was registered at approximately USD 758.1 Million in 2020 and is expected to generate revenue of almost USD 2,319.8 Million by the year 2026, growing at a CAGR of approximately 20.5% between 2021 and 2026.
Global Quantum Dot Solar Cell Market: Overview
Quantum dots are thought to be man-made atoms. Their energy levels can be adjusted by changing their size, which defines the bandgap. The dots can be grown in a variety of sizes, allowing them to communicate a wide range of bandgaps without changing the underlying material or construction. Sizing is accomplished by varying the duration or temperature of the fusion.
Quantum dot solar cells have the potential for solar, or photovoltaic, cells that reduce wasteful heat while maximizing the amount of solar energy converted to electricity. This is significant in terms of making solar energy more cost-competitive with traditional power sources.
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Global Quantum Dot Solar Cell Market: Growth Factors
In 2021, the multibillion-dollar quantum dot-enabled market will grow even more, with market innovations leading to improved products in displays, Micro-LEDs, security tagging, medical diagnostics, quantum computing, and Agtech.
QDs (Quantum Dot) are a proven and scaled technology that is relatively inexpensive for the high-end applications to which they add value. Quantum Dots (QDs) are used in a variety of optoelectronic devices, such as televisions and displays, light-emitting devices (LEDs), solar cells, photodiodes, thermoelectrics, photoconductors, and field-effect transistors, and QD solutions have been used in a variety of in vivo and in vitro imaging, sensing, and labeling techniques.
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Global Quantum Dot Solar Cell Market: Segmentation
The global quantum dot solar cell market is segregated based on product type, end-user, material, and regions. Based on product type, the quantum dot solar cell market is categorized into quantum dot hybrid solar cells, quantum dot solar cells, and quantum dot nanowire solar cells. Cadmium-based and cadmium-free are the further bifurcation of the material segment. Cadmium-free quantum dots have the potential not only for displays but also for a wide range of other applications, including solar cells. In addition, the report also classified the end-user segment into consumer, healthcare, defense, commercial, telecommunications, and others
Global Quantum Dot Solar Cell Market: Regional Analysis
In 2020, North America is expected to retain its supremacy in the global quantum dot solar cell market from a regional perspective. North America dominates the quantum dot solar cell market owing to the adoption of advanced technology in the U.S., and Canada. Moreover, the growing number of applications for quantum dot solar cells, such as chromatic windows and heat-resistant tiles, is also expected to fuel the market in this region. During the forecast period, Asia Pacific is expected to develop at the fastest CAGR. Customers’ desire to embrace technically superior products, along with the increased research and development in QD technology by major display manufacturers, have fueled market expansion in this region. Furthermore, owing to the increased adoption of quantum dots-enabled products in consumer electronics, automotive, and healthcare is also anticipated to fuel market growth in the upcoming years.
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Global Quantum Dot Solar Cell Market: Competitive Players
Some main participants of the quantum dot solar cell market are Green Science Alliance Co. Ltd., Plasmachem GmbH, Zhijing Nanotech Co. Ltd., Avantama AG, Quantum Solutions LLC, Crystalplex Corporation, Nanoco Group, Nanosys, Navillum Nanotechnologies, NN-Labs, Ocean NanoTech, Osram Licht and Samsung Electronics amongst others.
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