We have an updated report [Version - 2024] available. Kindly sign up to get the sample of the report.
all report title image
  • Published On : Jul 2022
  • Code : CMI5070
  • Pages :175
  • Formats :
      Excel and PDF
  • Industry : Smart Technologies

Terahertz technology is a part of the electromagnetic spectrum. These waves are visible between the infrared and microwave ranges. Their high-frequency nature enables them to enter more materials than microwaves, and they offer better spatial resolution than infrared.

Market Statistics:

The global terahertz technologies market was valued at US$ 421.5 Mn in 2021 and is forecast to reach a value of US$ 2827.3 Mn by 2030 at a CAGR of 23.7% between 2022 and 2030.

Figure 1: Global Terahertz Technologies Market Value (US$ Mn) Analysis and Forecast, 2017 - 2030

TERAHERTZ TECHNOLOGIES MARKET

Market Drivers:

Driver 1:

The ability to render high-quality spectroscopy imaging through terahertz radiation and the diagnosis of certain chronic diseases has been done at ease. This is anticipated to boost the growth of the global terahertz technologies market. As per NHC, around 157 million people globally suffer from different chronic diseases.  

Driver 2:

The replacement of the conventional x-rays and infrared rays with terahertz rays has been the main step in making huge inroads towards creating the technology in the healthcare industry, which is anticipated to boost  the growth of  the global terahertz technologies market.

Figure 2: Global Terahertz Technologies Market Share (%), By Region, 2021

TERAHERTZ TECHNOLOGIES MARKET

Market Restraints:

Restraint 1:

The use of ICs and IoT devices makes the network more complex. Similarly, for network monitoring and control, drop modules, variable optical attenuators, and tap power monitors are required to be fixed in a single compact unit which is not available in terahertz technologies is expected to hamper the growth of global terahertz technologies market.

Restraint 2:

The lack of awareness about the terahertz technologies, especially in the developing regions is a factor anticipated to hinder the growth of the global terahertz technologies market.

Terahertz Technologies Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 421.5 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 23.7% 2030 Value Projection: US$ 2827.3 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By type of Technology: Terahertz Imaging Systems (Active System, Passive System), Terahertz Spectroscopy Systems (Time Domain, Frequency Domain), Communication Systems
  • By the End-user: Healthcare, Defense and Security, Telecommunications, Industrial, Food and Agriculture, Laboratories, Other End Users
Companies covered:

Menlo Systems GmbH, Luna Innovations, TOPTICA Photonics AG, Advantest Corporation, Bakman Technologies LLC, Teravil Ltd, Terasense Group Inc., Gentec Electro-optics Inc., HÜBNER GmbH & Co. KG, Microtech Instruments, Inc., TeraView Limited and Batop GmbH.

Growth Drivers:
  • Rising demand in healthcare sector
  • Holistic approach to the security with the help of THz technologies
Restraints & Challenges:
  • Lack of awareness in technology
  • Lack of device infrastructure

Market Opportunities

Opportunity 1:

The expansion of telecommunication infrastructure will have a substantial effect on developing countries in a positive way. Which is anticipated to boost the growth of the global terahertz technologies market. With the advent of IoT, AI, and Big Data, there is an increasing demand for smart devices and other connected applications which is expected to propel the growth of global terahertz technologies market.

Opportunity 2:

The interconnected technologies in telecommunication sectors play an important role in capturing, translating, and transferring data into meaningful information, which is important for the reinforcement of urban infrastructure. This is expected to boost the growth of the global terahertz technologies market.

Key Trends/Takeaways:

Trend 1:

Metal detection and X-ray bag scanning are time-consuming procedures; it becomes very difficult in public transportation hubs with frequent movements. Hence, there is a need for technological solutions which can perform security checks even at a distance from the possible source. Terahertz technology enables the scanning of a large number of people without the need of stopping them for security check. This is expected to boost the growth of global terahertz technologies market.  

Trend 2:

With the rising need for security in recent times, the capability to identify threats such as hidden weapons and body-worn explosives is a strong operational requirement. Due to the growing emphasis on imaging concealed explosives, terahertz technology for security and defense-related applications recently experienced rising interest. Which is expected act as a trend for the growth of global terahertz technologies market.

Competitive Landscape:

Key players operating in the global terahertz technologies market are Menlo Systems GmbH, Luna Innovations, TOPTICA Photonics AG, Advantest Corporation, Bakman Technologies LLC, Teravil Ltd, Terasense Group Inc., Gentec Electro-optics Inc., HÜBNER GmbH & Co. KG, Microtech Instruments, Inc., TeraView Limited and Batop GmbH.

Frequently Asked Questions

The global terahertz technologies market is estimated to be valued at US$ 515.7 Mn in 2022 and is expected to exhibit a CAGR of 23.7% between 2022 and 2030.

The companies signing patent for the usage of THz technologies is anticipated to drive the growth of the market.

The telecommunications segment is the leading component in the market.

The side effects linked with adopting the technology in various applications is anticipated to hamper the growth of the market.

Key players operating in the market are Menlo Systems GmbH, Luna Innovations, TOPTICA Photonics AG, Advantest Corporation, Bakman Technologies LLC, Teravil Ltd, Terasense Group Inc., Gentec Electro-optics Inc., HÜBNER GmbH & Co. KG, Microtech Instruments, Inc., TeraView Limited and Batop GmbH.

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Customize Now

Want to Buy a Report but have a Limited Budget?

We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail

Request Discount
Logo

Reliability and Reputation

ESOMAR
DUNS Registered
Clutch
DMCA Protected

9001:2015

Reliability and Reputation

27001:2022

Reliability and Reputation

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo