New York, Global Terahertz Technology Market was valued at US$ 32.1 billion in 2021 and it is anticipated to grow up to US$ 189.8 billion by 2031, at a CAGR of 18.7% during the forecast period.
The global terahertz technology market report from Global Insight Services is the single authoritative source of intelligence on Terahertz Technology Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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The terahertz ranges in the electromagnetic spectrum range between the microwaves and infrared spectrum, comprising the frequency of one million oscillations per second. Due to terahertz technology’s exceptional properties, terahertz radiation plays a crucial technology to be adopted in the future. This technology usually detects hidden explosives and drugs and recognizes which substances flow from the plastic pipe. The terahertz technology is proficient enough to monitor the layer thickness by visualizing material flaws in ceramics or plastic in a non-destructive manner. Due to its low energy characteristics, the terahertz radiation is non-hazardous for animals and humans
Major Players in the Gobal Terahertz Technology Market
The key players studied in the global terahertz technology market are Acal BFi Nordic AB (Sweden), Advantest Corporation (Japan), HÜBNER Photonics (Germany), Luna Innovations Incorporated (US), Menlo Systems GmbH (Germany), Microtech Instruments (US), Terasense Group Inc. (US), TeraView Limited (UK), TOPTICA Photonics AG (Germany), and das-Nano, SL. (Spain).
Market Drivers and Trends
With the growing technological advancement across various industries, the demand for implementing terahertz technology across military & defense and the medical and healthcare sector is also boosting. The growing focus of the manufacturers on the development of terahertz (THz) sources, transmission or reflection, as well as detectors technologies, owing to increasing exploration of the“THz gap,” which lies between photonics and electronics. This technology is constantly being utilized in various applications such as chemistry, biomedicine, materials science, security screening, and communication. The exclusive properties of THz radiation are well-suited for medical and healthcare applications, particularly that it can stimulate low-frequency molecular vibrations. The propagation of THz radiation from biomolecule that produces spectral vibrational signature along the THz range is one of the important features of terahertz technology.
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Global Terahertz Technology Market Segmentation
By Component
- Terahertz Sources
- Terahertz Detectors
By Type
- Terahertz Imaging Systems
- Terahertz Spectroscopy Systems
- Terahertz Communication Systems
By Application
- Medical and Healthcare
- Defense and Security
- Food and Agriculture
- Industrial
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
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