Terahertz Components and Systems Market Is Expected To Generate Huge Profits By 2025

The terahertz components and systems market is expected to gain steady traction in the foreseeable future owing to growing application of terahertz technologies in different industry verticals which include material inspection and process control monitoring among others.

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Market Dynamics

The terahertz regime is compressed between infrared and microwaves, bridging the gap between optics and electronics. With diversified research and development activities is having a positive impact on the growing application of the terahertz technology. The market for terahertz components and systems is gaining significant traction due to growing potential application of terahertz applications across security scanning, process control, medical imaging and advanced communication instruments, among others. Different sort of materials like plastics, polymers among others are being used widely. Terahertz technology plays a crucial role in the inspection of such materials. Moreover, inspection of critical components for instance plastic airbag caps in advanced vehicles is one of the prime application area of terahertz technology.

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).

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. This in turn is boosting the application of terahertz radiations in different high end medical devices globally. The growing government initiatives towards security in high alert zones like airports, railway stations and metro stations along with  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.

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. Terahertz technology also have potential applications in archeological and historical studies as it can primarily characterizes the metal, stone, paints and any material without causing any damage. Terahertz systems have potential applications for chemical recognition. Furthermore, terahertz technology also have applications in advanced telecommunications which is having a positive impact on the market for terahertz components and systems over the forecast period.

Market Taxonomy

This report segments the global terahertz components and systems market on the basis of components, systems, application, and geography. 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. For complete understanding of market dynamics, the global terahertz components and systems market is analyzed across key geographical regions namely Europe, North America, Latin America, Asia Pacific, Middle East and Africa. Each of these regions is evaluated on the basis of market findings across key countries in these regions for a macro-level understanding of the market.

Detailed Segmentation:
Global Terahertz Components and Systems Market, By Components:
◦ Terahertz Sources
◦ Terahertz Detectors
◦ Others

Global Terahertz Components and Systems Market, By Systems:
◦ Systems based on spectroscopy
▪ Time Domain Spectroscopy
▪ Frequency Domain Spectroscopy
▪ Imaging by Scanning
◦ Terahertz Radar
◦ Terahertz Sensing

Global Terahertz Components and Systems Market, By Application:
◦ Industrial Process Management
◦ Research Laboratory
◦ Medical Imaging
◦ Nondestructive Testing
◦ Others

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