Global QLED Display Market Size (2023 - 2030):

The Global QLED Display Market is estimated at USD 4.03 Billion in 2023 and is projected to reach a value of USD 39.46 Billion by 2030, growing at a CAGR of 33% during the forecast period 2023-2030.

QLED refers to Quantum Dot Light Emitting Diode. It is a display technology that utilizes quantum dots (QD), which are tiny semiconductor nanocrystals capable of producing pure monochromatic red, green, and blue light. LCD backlights and display color filters utilize photo-emissive quantum dot particles. When excited by blue light from the display panel, the quantum dots emit pure colors, reducing light losses and color interference in the color filters, thereby enhancing the brightness and color gamut of the display. The light passes through a layer of QD film and RGB filters made from color pigments, or through QD filters with red/green QD color converters and blue passthrough. Although this technology is primarily used in LED-backlit LCDs, it can also be used in other display technologies that use color filters, such as blue/UV active-matrix organic light-emitting diode (AMOLED) or QNED/MicroLED display panels. While LED-backlit LCDs are the primary application of photo-emissive quantum dots, blue OLED panels with QD color filters are currently under research.

Electro-emissive or electroluminescent quantum dot displays are an experimental display type based on quantum-dot light-emitting diodes (QD-LED; also EL-QLED, ELQD, QDEL). These displays work similarly to AMOLEDs and MicroLEDs, in which the light is produced directly in each pixel by applying electric current to inorganic nanoparticles. Manufacturers have claimed that QD-LED displays are capable of supporting large, flexible displays that would not degrade as readily as OLEDs, which makes them a good choice for flat-panel TV screens, smartphones, digital cameras, and handheld game consoles.

Global QLED Display Market Drivers:

The growing demand for large and high-resolution displays is fuelling the growth of the global QLED display market.

Consumers are constantly demanding advanced-quality displays in the applications of smartphones, tablets, televisions, monitors, and laptops due to the rising popularity of high-definition content and streaming services. QLED display technology provides improved contrast, brighter and more vibrant colors, and wider viewing angles. Thereby, increasing the demand for the QLED display market.

The easy availability and affordability of raw materials for QLED technology are also contributing to the growth of the global QLED display market.

QLED technology is affordable for both manufacturers and consumers due to the easy availability of raw materials, which results in a low cost of production. In addition, manufacturers are able to introduce new creations and innovations in QLED display technology due to easy access to raw materials. As a result, improved versions of the display technology are being developed.

Global QLED Display Market Challenges:

The global QLED display market is encountering challenges, primarily in terms of heavy metal contamination, which leads to adverse effects on the environment and human health. Cadmium is the most easily accessible, affordable, and efficient raw material that can be used for the production of QLED displays. However, cadmium is toxic to plants, animals, and microorganisms, which negatively affects human health and the environment. Due to these harmful effects, governments have posed strict regulations governing the use of cadmium in QLED displays that will restrict its adoption and prevent manufacturers from reaping the advantages of this technology. Moreover, the use of cadmium is also banned in several regions. 

COVID-19 Impact on the Global QLED Display Market:

The outbreak of the COVID-19 pandemic substantially impacted the global QLED display market. The implementation of strict lockdowns and travelling restrictions across several nations hampered major QLED display companies manufacturing capacities. The pandemic caused disruptions in supply chains and the distribution of QLED displays, which resulted in manufacturing slowdowns and shutdowns. China, a major hub of electronic goods, was severely impacted by the COVID-19 outbreak. However, the pandemic led to an increase in demand for QLED displays in the healthcare sector, primarily for healthcare equipment and systems, such as ventilators and respirators. Moreover, the education sector also witnessed increasing demand for QLED displays for virtual learning, events, and meets. Consumers also bought smartphones, tablets, and laptops for the purpose of remote work during the pandemic. These factors helped in elevating the growth of the market. Therefore, the global QLED display market is projected to recover from the pandemic and continue its growth trajectory once these restrictions are lifted. 

Global QLED Display Market Recent Developments:

• In February 2023, Hisense Visual Technology, a subsidiary of Hisense Group, bought a 22.9 percent stake in Changelight, a company specializing in semiconductor optoelectronic products and China's third-biggest light-emitting diode chipmaker, for USD 240 million. The acquisition aims to enhance Hisense Visual’s strategic position in the display industry chain and accelerate its research, development, and promotion of new technologies such as Mini and MicroLEDs.

• In January 2023, Samsung Electronics launched its new range of Neo QLED, MICRO LED, and Samsung OLED lineups along with lifestyle products and accessories ahead of CES 2023. The latest lineup showcases advanced and innovative products with an aim to enhance connectivity and personalized consumer experiences.

• In January 2023, HARMAN, an automotive technology firm and a subsidiary of Samsung Electronics Co., Ltd. focused on enhancing consumer experiences at automotive grade, launched HARMAN Ready Display, a portfolio of display products, including Neo QLED Auto, that leverage Samsung synergies to bring leading consumer electronics to display experiences into the vehicle. HARMAN Ready Display is designed to meet various vehicle requirements by balancing cost, performance, and design.

GLOBAL QLED DISPLAY MARKET COVERAGE:

Global QLED Display Market Segmentation:

Global QLED Display Market Segmentation: By Material

• Cadmium-Free Quantum Dots

• Cadmium-Based Quantum Dots

Based on the material, the global QLED display market can be bifurcated into cadmium-free quantum dots and cadmium-based quantum dots. In 2022, the cadmium-free quantum dots segment held the highest market share. The growth is due to the cadmium-free quantum dots being a safer and environment-friendly alternative to the cadmium-based quantum dots. This material is majorly made of zinc sulphide or indium phosphide. Moreover, cadmium-free quantum dots produce better display quality and carry a longer lifespan than cadmium-based ones.

Global QLED Display Market Segmentation: By Industry Vertical

• Consumer Electronics

• Automotive

• Healthcare

• Commercial

• Others

Based on the industry vertical, the global QLED display market can be bifurcated into consumer electronics, automotive, healthcare, commercial, and others. In 2022, consumer electronics held the highest market share. The growth is due to the growing demand for high-resolution display technology in smartphones, tablets, notebooks, monitors, and televisions. Consumers are constantly demanding better display quality, including high brightness and a wider color range, which are seen in the QLED display technology.

Global QLED Display Market Segmentation: By Application

• Television

• Monitors

• Notebooks

• Tablets

• Smartphones

Based on the application, the global QLED display market can be bifurcated into television, monitors, notebooks, tablets, and smartphones. In 2022, the television segment held the highest market share. The growth is attributed to the numerous advantages of QLED display technology over traditional display technology. QLED display technology offers enhanced contrast, brighter and more vibrant colors, and wider viewing angles. These features are specifically desirable by consumers when watching television.

Global QLED Display Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• The Middle East & Africa

• South America

In 2022, the North American region held the largest share of the global QLED display market. The growth is attributed to the significant demand for QLED displays and the early adoption of quantum dot technology. Moreover, the region has a thriving developed consumer electronics industry and a strong preference among customers for high-end, technologically advanced goods, including QLED displays. The United States held the largest market share in this region, owing to the widespread popularity of QLED displays. 

The Asia Pacific region is anticipated to grow at the highest CAGR from 2022-2030. Ample quantum dot display technology providers and QD display TV manufacturers have a positive effect on market expansion in the region.

Global QLED Display Market Key Players:

1. LG Display Co., Ltd. (South Korea)

2. Samsung Electronics Co., Ltd. (South Korea)

3. BOE Technology Group Co., Ltd. (China)

4. Sharp Corporation (Japan)

5. TCL Corporation (China)

6. Hisense Group Co., Ltd. (China)

7. Panasonic Corporation (Japan)

8. Haier Group Corporation (China)

9. Innolux Corporation (Taiwan)

10. Vizio Inc. (United States)