This compound is primarily utilized in the field of organic electronics due to its excellent hole-transporting properties. It is often incorporated into the fabrication of organic light-emitting diodes (OLEDs) and organic photovoltaic (OPV) devices, where it enhances efficiency and stability. Additionally, it serves as a key component in the development of electrochromic materials, which are used in smart windows and displays. Its ability to facilitate charge transport makes it valuable in the synthesis of advanced materials for optoelectronic applications.