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

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  | Coherent Market Insights

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  | Coherent Market Insights

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.

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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 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.

Terahertz Technology is used in the medicine sector. This technology is able to detect tiny changes in the body. It can also identify skin cancer and breast cancer in their initial stages. The use of terahertz technology has also made it possible to study wound conditions under the bandage layer.

Market Dynamics:

The terahertz technology can penetrate specific opaque materials for the structuring of objects in a sealed package. Hence it is considered as an ideal replacement for the conventional scanning technologies in security terminals. This factor is anticipate to boost the growth of global terahertz technologies market. In laboratory research and rising significance of terahertz technology for satellite computing and communication and food industry for food processing application are projected to enhance the growth of the market over the forecast period.

The validating use and the unique nature 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 anticipated to restrict the growth of the global terahertz technologies market.

Key features of the study:

  • This report provides in-depth analysis of the global terahertz technologies market, and provides market size (US$421.5 Mn ) and compound annual growth rate (23.7%) 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
  • Company Profiles:
    • Luna Innovations
    • Teravil Ltd
    • TeraView Limited
    • TOPTICA Photonics AG
    • HÜBNER GmbH & Co. KG
    • Advantest Corporation
    • Batop GmbH
    • Terasense Group Inc.
    • Microtech Instruments, Inc.
    • Menlo Systems GmbH
    • Gentec Electro-optics Inc.
    • Bakman Technologies LLC

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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