Market Size and Overview:

The Global QLED Display Market is estimated at USD 5.36 Billion in 2023 and is projected to reach a value of USD 39.46Billion by 2030, growing at a CAGR of 33% during the forecast period 2024-2030.

QLED, short for Quantum Dot Light Emitting Diode, represents a display technology employing quantum dots (QD), minute semiconductor nanocrystals capable of generating pure monochromatic red, green, and blue light. These quantum dot particles are employed in LCD backlights and display color filters. When stimulated by the blue light from the display panel, they emit vivid colors, thereby diminishing light losses and color interference, thereby enhancing the display's brightness and color range. The light traverses 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 pass-through. While predominantly utilized in LED-backlit LCDs, this technology can be applied in other display technologies employing color filters, such as blue/UV active-matrix organic light-emitting diode (AMOLED) or QNED/MicroLED display panels. Current research focuses on blue OLED panels incorporating QD color filters.

Electro-emissive or electroluminescent quantum dot displays, known as QD-LED (also EL-QLED, ELQD, QDEL), represent an experimental display type based on quantum-dot light-emitting diodes. These displays function similarly to AMOLEDs and MicroLEDs, producing light directly in each pixel by applying electric current to inorganic nanoparticles. Manufacturers propose that QD-LED displays can support large, flexible displays with greater durability compared to OLEDs, making them suitable for flat-panel TV screens, smartphones, digital cameras, and handheld game consoles.

Global QLED Display Market Drivers:

The increasing demand for large, high-resolution displays propels the growth of the global QLED display market. Consumers continually seek advanced-quality displays for smartphones, tablets, televisions, monitors, and laptops, driven by the growing popularity of high-definition content and streaming services. QLED display technology offers enhanced contrast, brighter, more vibrant colors, and wider viewing angles, thus driving market demand. The easy accessibility and affordability of raw materials for QLED technology also contribute to market growth. The affordability of QLED technology for both manufacturers and consumers, owing to readily available raw materials, results in a low production cost. Furthermore, manufacturers can innovate in QLED display technology due to easy access to raw materials, leading to improved versions of the technology.

Global QLED Display Market Challenges:

 The global QLED display market faces challenges, primarily concerning heavy metal contamination, particularly from cadmium, an easily accessible and efficient raw material for QLED display production. However, cadmium's toxicity to plants, animals, and microorganisms poses environmental and health risks, leading governments to impose strict regulations on its usage in QLED displays. These regulations restrict its adoption and hinder manufacturers from fully benefiting from this technology. Additionally, cadmium usage is banned in several regions.

COVID-19 Impact on the Global QLED Display Market:

The COVID-19 pandemic significantly affected the global QLED display market, with strict lockdowns and travel restrictions hampering manufacturing capacities of major QLED display companies. Disruptions in supply chains and distribution led to manufacturing slowdowns and shutdowns. However, the pandemic increased demand for QLED displays in the healthcare sector, particularly for healthcare equipment like ventilators and respirators. The education sector also witnessed a surge in demand for QLED displays for virtual learning. Despite challenges, the market is expected to recover post-pandemic.

Global QLED Display Market Recent Developments:

 In February 2023, Hisense Visual Technology, a subsidiary of Hisense Group, acquired a 22.9 percent stake in Changelight, a prominent semiconductor optoelectronic products company and China's third-largest light-emitting diode chipmaker, for USD 240 million. This acquisition aims to strengthen Hisense Visual’s position in the display industry chain and expedite research, development, and promotion of new technologies such as Mini and MicroLEDs.

In January 2023, Samsung Electronics launched a new lineup including Neo QLED, MICRO LED, and Samsung OLED lineups alongside lifestyle products and accessories ahead of CES 2023. These products aim to enhance connectivity and personalized consumer experiences.

In January 2023, HARMAN, an automotive technology firm and a subsidiary of Samsung Electronics Co., Ltd., introduced HARMAN Ready Display, a portfolio of display products including Neo QLED Auto, designed to bring leading consumer electronics display experiences into vehicles, balancing cost, performance, and design to meet various vehicle requirements.

Global QLED Display Market Segmentation: By Material

• Cadmium-Free Quantum Dots
• Cadmium-Based Quantum Dots

Regarding material, the global QLED display market can be categorized into cadmium-free quantum dots and cadmium-based quantum dots. In 2023, the cadmium-free quantum dots segment dominated the market share. This growth is attributed to their safer and environmentally friendly nature compared to cadmium-based quantum dots. Composed primarily of zinc sulfide or indium phosphide, cadmium-free quantum dots not only yield superior display quality but also boast a longer lifespan compared to their cadmium-based counterparts.

Global QLED Display Market Segmentation: By Industry Vertical

• Consumer Electronics
• Automotive
• Healthcare
• Commercial
• Others

Concerning industry verticals, the global QLED display market can be divided into consumer electronics, automotive, healthcare, commercial, and other sectors. In 2023, consumer electronics held the largest market share. This growth is driven by the increasing demand for high-resolution display technology across various consumer electronic devices such as smartphones, tablets, laptops, monitors, and televisions. Consumers continually seek improved display quality, including higher brightness and broader color spectrums, features inherent in QLED display technology.

Global QLED Display Market Segmentation: By Application

• Television
• Monitors
• Notebooks
• Tablets
• Smartphones

Regarding applications, the global QLED display market can be segmented into televisions, monitors, notebooks, tablets, and smartphones. In 2023, the television segment dominated the market share. This dominance is attributed to the manifold advantages of QLED display technology over traditional display methods. QLED technology offers enhanced contrast, brighter and more vivid colors, and wider viewing angles, characteristics particularly sought after by consumers for television viewing.

Global QLED Display Market Segmentation: By Region

• North America
• Europe
• Asia-Pacific
• The Middle East & Africa
• South America

In 2023, North America held the largest share of the global QLED display market. This growth is credited to the substantial demand for QLED displays and the early adoption of quantum dot technology in the region. Additionally, North America boasts a robust consumer electronics industry and a consumer base that favors high-end, technologically advanced products, including QLED displays. Within North America, the United States led in market share, driven by the widespread popularity of QLED displays.

The Asia Pacific region is projected to experience the highest compound annual growth rate (CAGR) from 2023 to 2030. The presence of numerous quantum dot display technology providers and QD display TV manufacturers is expected to drive market expansion in the region.

Global QLED Display Market Key Players:

LG Display Co., Ltd. (South Korea)

Samsung Electronics Co., Ltd. (South Korea)

BOE Technology Group Co., Ltd. (China)

Sharp Corporation (Japan)

TCL Corporation (China)

Hisense Group Co., Ltd. (China)

Panasonic Corporation (Japan)

Haier Group Corporation (China)

Innolux Corporation (Taiwan)

Vizio Inc. (United States)