30.47% CAGR growth by 2023 in Terahertz Technologies Market| Top Vendors - ADVANTEST CORPORATION, TRAYCER DIAGNOSTIC SYSTEMS, TERASENSE GROUP INC, MICROTECH INSTRUMENT INC, MENLO SYSTEMS GMBH, amongst others

Market Analysis:

NORTH AMERICA TO DOMINATE THE MARKET
North America is the major segment in terahertz technologies market because of the increasing homeland security issues, investment in defense, and growing R&D. Also, stringent government regulations regarding safety, new power generation projects, and the significantly growing automotive and aerospace industries drive the market for Terahertz technologies in this region.

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Terahertz technology is an emerging field, with unique advantages that can considerably propel the growth of the terahertz technology market over the forecast period. The advantages of terahertz radiation, such as being intrinsically non-invasive, safe, and non-destructive, have increased its application range beyond data transfer and security, to deal with applications related to healthcare and pharmaceuticals. It’s increased demand in the Medical Sector and NDT applications are expected to drive the market. Laboratories hold the largest market share in terahertz technology, and are expected to see high growth over the forecast period. With growing awareness, many industries are investing in R&D to explore the potential applications of terahertz.

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Market Segments:
Terahertz Technologies Market is segmented by:
1. Technology: Terahertz Imaging Systems (Active Systems, Passive Systems), Terahertz Spectroscopy Systems (Time Domain, Frequency Domain), Communication Systems
2. End-user Verticals: Healthcare, Defense and Security, Telecommunications, Industrial, Food and Agriculture, Laboratories, Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• March 2017: Luna Innovations Incorporated announced that its Picometrix division entered into a Vendor Managed Inventory Agreement with a leading Chinese provider of telecommunications equipment and network solutions.
• January 2017: Terasense partnered with Eidos Business Lab LLC - an official distributor in Russian Federation.

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