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  • Published On : Jul 2022
  • Code : CMI5070
  • Industry : Smart Technologies
  • Pages : 175
  • Formats :

Terahertz radiation is a type of electromagnetic radiation ranging from the microwave band’s IR’s from high end to the lower end in the EM spectrum. The short form of Terahertz is THz, and it is referred to as the unit electromagnetic wave frequency. 1 unit of electromagnetic wave frequency is equivalent to 1 trillion Hz. It widely is used as an indicator of the infrared frequency, frequency of UV and also the frequency of visible radiation. The computers and wireless technology usually do not use the THz. The THz is mostly observed in the applications comprising monitoring, inspection and also regulating various forms of radiation.

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  | Coherent Market Insights

North America held a dominant position in the Global Terahertz Technologies Market Share in 2021

Statistics:

North America held dominant position in the global terahertz technologies market in 2021, accounting for 51.0% share in terms of volume.

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

Terahertz Technologies  | Coherent Market Insights

Key Developments

  1. In October 2021, HUBNER declared the increase of its advancement portfolio to consist short-pulse fiber laser with recent acquirements of VALO Innovations. The ownership of the fiber laser method of VALO innovations provide market a very different short pulse performance. The VALO innovations of fiber lasers provide desirable features for the usage in bioimaging, micro-machining and spectroscopy.
  2. In October 2021, Advantest Corporation adopted the R&D activities of Altanova and the organization also comprises in acquirements and collaborations as a strategic development by the investors in finishing their technologies and solutions. Moreover, in the year 2020, the company initiated the approval of TAS7400 TS huge frequency resolution option with the help of terahertz technology.
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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 Drivers:

Driver 1:

The rising need of terahertz technology in the hospital sector such as biomedical imagery, THz imagery and spectroscopy in detecting the malignancy amidst various applications. Furthermore, THz which is widely utilized to monitor or observe the water content in biological tissues to identify the skin and other carcinoma is anticipated to drive the growth of the global terahertz technologies market.

Driver 2:

The capacity to reduce, the high quality of spectroscopy imagery from the radiations of THz and the cure for few chronic diseases has been comfortably done. The alteration and usage of THz in place of conventional x-rays and infrared rays which is creating a path towards new technological establishments in the medical sector is projected to boost the growth of global terahertz technologies market. Furthermore, capsule coatings plays a crucial role in controlling the release of active ingredients.

Market Restraints:

Restraint 1:

Absence of knowledge based on the technology, absence of awareness regarding the particular subject and topic particularly in the developing countries and the research community which is trying to make substantial inroads to reinforce with the strength of the technology to detect the key effectiveness proficient of making a distinct market is expected to hamper the growth of the global terahertz technologies market.

Restraint 2:

The side-effects related to the adoption of technology in various applications which is impelling the customers decision making capacity, disruptive advancements in few sections which can face the obstructions of consumer cynicism and the confrontation from executives already being expanded into those regions are anticipated to hinder the growth of the global terahertz technologies market.

Market Opportunities

Opportunity 1:

Terahertz is rapidly receiving its 6G connectivity, various efforts and analysis projects globally have received the milestones in relation to the 6G advancement, especially in the THz band. For instance, at the IEEE, International Conference on the Communication, researches from various companies using a digital beamforming solution.

Opportunity 2:

As the plastics continue to increase constantly with the altering costly materials such as ceramics and the metals for a plastic compound linked technology is generally rising. Moreover, THz waves exhibit both the destructive and the non-destructive fault types amidst the polymers, such as time domain spectroscopy of THz domain is also anticipated to have a lucrative growth in the global terahertz technologies market.

Key Trends/Takeaways:

Trend 1:

The industries constantly working on creating its current portfolio with novel products which are capable to cater the needs of the customers and the THz frequencies that are in huge requirement owing to the rising use of tech-enabled appliances in nondestructive testing and applications are anticipated to act a key trend in the growth  of the global terahertz technologies market.

Trend 2:

The company’s commitment which has open accessibility to the THz laboratory which conducts several trials such as measuring the dynamics of the electrical dynamic conveyance in the semiconductors and other substances on the picoseconds measuring unit using optical pump, the provision to perform various trials in the spectroscopy section, identification and the protection is anticipated to act another key trend in the growth of the 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.

Terahertz radiation has restricted penetration from the fog and clouds and can’t penetrate from liquid water or the metals. The earth’s atmosphere is a strong absorber of the radiations formed from terahertz in particular water vapor bands of absorption. Additionally, producing and identifying the terahertz radiation is technically difficult and is also inexpensive.

Market Dynamics:

The terahertz rays able to view the visualizing contents of the sealed packages and can also offer a clear and descriptive analysis and research of the internal structure of the quality control of goods and to be an integral segment of the non-destructive testing industry. Terahertz technologies reinforcing applications come in protective official buildings and other services which is anticipated to fuel the growth of the global terahertz technologies market.

The problem being faced to alter the existing technologies presently is leading the market and the validating usage and the uniqueness of the terahertz technology as a facility to the customers’ needs some specific time. Hence, the efforts and challenges to change the technologies such as MRI and the X-rays in the particular industries is considerably anticipated to restrict the growth of the global terahertz technologies market.

Sediments having several minerals of soil were recuperated in December 2020, from the department of the archaeological site in Batangas. Every soil specimen is examined and profiled from various layers or the specimens’ depth. Orderly to detect metals and minerals, terahertz technologies spectroscopy was also utilized, which verified good deal with the conventional description outcomes.

Key features of the study:

  • This report provides in-depth analysis of the global terahertz technologies market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global terahertz technologies market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • 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.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global terahertz technologies market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global terahertz technologies market

Detailed Segmentation:

  • Global Terahertz Technologies Market, By Type of Technology:
    • Terahertz Imaging Systems
      • Active System
      • Passive System
    • Terahertz Spectroscopy Systems
      • Time Domain
      • Frequency Domain
    • Communication Systems
  • Global Terahertz Technologies Market, By End User:
    • Healthcare
    • Defense and Security
    • Telecommunications
    • Industrial
    • Food and Agriculture
    • Laboratories
    • Other End Users
  • Global Terahertz Technologies Market, By Geography:
    • North America
    • Europe
    • Asia-Pacific
    • Rest of the World

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.

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