Terahertz Components and Systems Market Chief Industry Participants Include Advantest Corporation, Applied Research & Photonics Inc., Digital Barriers PLC, EMCORE Corporation, Bruker Corporation

Electromagnetic waves with frequencies range between 100 GHz and 10 THz is primarily refers to as terahertz technology. High chemical selectivity as well as the penetration of opaque materials are some of the major advantages of terahertz technology. Undeveloped electromagnetic waves are known as terahertz waves which fall between radio waves and light in the frequency spectrum and have the ability to pass through paper, cloths, cardboard, plastics, wood, masonry and ceramics. Increasing application of terahertz technologies in laboratory along with medical imaging is anticipated to fuel the market for terahertz components and systems market globally. The global terahertz components and systems market was valued at US$ 96.3 million in 2017 and is expected to witness a CAGR of 27.9% during the forecast period (2017 – 2025).

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Increasing application of terahertz technology in nondestructive testing for biomedical and pharmaceutical materials drives the growth of terahertz components and systems market

Increasing application of terahertz technology for characterization and thickness mapping of ceramic, dielectric and composite materials is one of the major driving factor for the market. Terahertz technology primarily characterizes micro-structure variation in dielectric materials without causing any damage. Growing prevalence of chronic dieses like cancer and other skin related problems demand advanced technology based devices for better and quick detection for fast recovery.

Growing concern towards homeland security is also anticipated to drive the global market over the forecast period. The available terahertz devices are expensive and bulky which may hinder the growth of the market in near future. However, with the increasing research activities in this field is working on innovating flexible and cost effective terahertz devices. Moreover, developments in terms of system robustness, cost efficiency and measuring speed have to be implemented to make terahertz systems more competitive.
Advanced terahertz technology for quality control and process management is a prominent factor to fuel the terahertz components and systems market
T-rays or terahertz radiations shows potential application in the food industry for quality control process. Owing to its sensitivity towards water, so terahertz radiations are suitable for moisture detection. Increasing technological advancement in the food industry along with growing concern towards food quality is boosting the market for terahertz components and systems globally. Moreover, solar industry and homeland security are some of the prime application areas of terahertz technology which is anticipated to have positive impact on the market over the forecast period.

Key companies covered as a part of this study include Advantest Corporation, Applied Research & Photonics Inc., Digital Barriers PLC, EMCORE Corporation, Bruker Corporation, Teraview, M Squared Lasers Ltd, NEC Corporation, Menlo Systems GmbH, Techcomp Group Ltd., Bridge12 Technologies, Inc. and Microtech Instruments Inc.

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Market Taxonomy

On the basis of components, the terahertz components and systems market is categorized into terahertz detectors and terahertz sources among others. On the basis of systems, the terahertz components and systems are segmented into terahertz radar, systems based on spectroscopy, and terahertz sensing. Systems based on spectroscopy is segmented into time domain spectroscopy, frequency domain spectroscopy, imaging by scanning. On the basis of application, the terahertz components and systems market is categorized into industrial process management, research laboratory, medical imaging, and Nondestructive Testing among others.

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This release was published on openPR.