Global Terahertz Technologies Market & Growth, Trends and Forecasts - (2015 - 2020)
The terahertz technologies market estimated at USD 70.24 million in 2015 is forecasted to grow at a CAGR of 32.68% over the reporting period to reach USD 288.77 million by the end of 2020. Terahertz radiation is an electromagnetic radiation spanning between microwave bandâ€™s high-end and far-IRâ€™s lower-end in the electromagnetic spectrum. Terahertz technology is implemented to monitor, inspect and control ultrasound and infrared radiation techniques. X-ray and nuclear radiation technologies, which are unsafe, have been replaced by terahertz technology. Initially, it was used in very few areas such as planetary science, radio, astronomy etc. However, the innovations in this technology enabled its spread across many areas such as food and agriculture, pharmaceutical manufacturing, plastics & ceramics, healthcare, communications etc. Commercial applications such as security imaging, explosive devices detection, medicines, airplanes autonomous landing and their refueling, high-speed communications etc. are possible these days with the advent of this technology.
An increase in the number of manufacturing companies in the developing countries, rise in worldwide demand for precise security systems, defense and medical sectors are driving the global terahertz technologies market. Rising adaptation of terahertz radiation treatment due to its ability of barrier penetration without any damage and usage of terahertz systems in R&D also helps the market. However, the high cost and slow adoption due to lacking awareness are the possible obstacles for market growth.
Recent developments in terahertz device technology such as generation of THz pulse for spectroscopy applications user NIR laser, low loss waveguide circuits, submicron scale lithography, silicon micromachining, which is used for compact and integrated packing etc., offer a plethora of opportunities. The understanding gap between the engineering and medical sectors regarding terahertz technology and its abilities is a great challenge.
Based on enabling technology, THz technology market is segmented into THz sources, THz detectors, THz waveguides, THz regulators etc. By type of technology, the market is segmented into terahertz imaging (active and passive systems), terahertz spectroscopy (time and frequency domain) and communication systems (modulators, emitters, and antennas). By end-user application, the market is segmented into medical & healthcare, laboratory research & development, non-destructive testing, defense, food & agriculture etc.
Currently, North America holds the major market share and Asia-Pacific is expected to grow at a considerably high rate.
Key Industry Players
The study has enlisted major global market players, with their market shares and growth strategies, including:
Advantest Corporation Traycer Terasense Microtech Instrument Inc. Menlo Systems GmbH Gentec Electro-Optics Advanced Photonix Inc. Digital Barriers PLC Teraview Toptica Photonics AG
Key Deliverables of the Study
Market definition of terahertz technologies in the global market along with market drivers and restraints. Market segmentation and the corresponding market share analysis. Global and region specific competitive market analysis of terahertz technologies. Analysis of the key factors which influence the market scenario along with growth opportunities. Identifying the market leaders and analyzing their strategic moves and their market share. Covers the market landscape with the geographical footprint, key growth strategies, and competitive market share analysis. This report provides an in-depth analysis of Porterâ€™s five forces of the market. All the five major factors in the market have been quantified using internal key parameters governing each of them.
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