Terahertz technology market is anticipated to grow at a significant CAGR of 15.9% during the forecast period. The terahertz wave is an electromagnetic wave with a spectrum ranging between microwave and infrared. It has the advantages of low energy, non-invasive, high resolution, and penetration. The technology is utilized for various applications such as gas detection, space probes, imagers and telescopes, superconductive sensors, spectroscopy of fluids, range finding, automotive radar, dust-immune communications, board-to-board wireless communication, skin cancer detection, ceramic crack detection, pathogen identification. Further advancements in research and development for developing new ways to utilize terahertz technology are anticipated to fuel the demand for terahertz technology for the forecast period. For instance, in May 2022, a team of scientists at the Cavendish Laboratory discovered a new effect in two-dimensional conductive systems that promises improved performance of terahertz detectors. Terahertz frequencies, which lie between microwave and infrared on the spectrum of electromagnetic radiation, could enable faster, safer, and more effective imaging technologies, as well as much higher speed wireless telecommunications. A lack of effective real-world devices has hampered these developments, but this breakthrough brings us one step closer to these advanced technologies.
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The global terahertz technology market is segmented based on the technology and end-user. Based on the technology, the market is segmented into terahertz imaging systems, terahertz spectroscopy systems, and communication systems. Based on the end-user, the market is sub-segmented into medical & healthcare, defense and security, automotive and aerospace, semi-conductor and electronic and telecommunications, and others. Among technology, terahertz imaging systems accounted for a significant market share in the global terahertz technology market. The technology has various advantages such as low energy, non-invasive, high resolution, and penetration which makes it relatively safe for biomedical application and is thus has been applied in terahertz imaging systems.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Terahertz Technology Market Report Segment
By Technology
- Terahertz Imaging Systems (Active System, Passive System)
- Terahertz Spectroscopy Systems (Time Domain, Frequency Domain)
- Communication Systems
By End-User
- Medical & Healthcare
- Defense and Security
- Automotive and Aerospace
- Semi-conductor and Electronic
- Telecommunications
- Others
Global Terahertz Technology Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global terahertz technology market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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