Terahertz Technologies Market 2020 Technology Advancement and Precise Outlook- Advantest Corporation, Traycer Diagnostic Systems, Terasense Group Inc, Microtech Instrument Inc

The terahertz technologies market was estimated at USD 154.28 million in 2017. This market is expected to reach USD 761.1 million by the end of 2023, at a CAGR of 30.47% during the forecast period (2018 - 2023).

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. Other emerging applications in molecular spectroscopy, plasma diagnostics, space sciences, and others, have created huge opportunities for expansion in the field of terahertz technology.

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Market By Top Companies:

Advantest Corporation, Traycer Diagnostic Systems, Terasense Group Inc, Microtech Instrument Inc, Menlo Systems Gmbh

Industry Research Coverage

INCREASED DEMAND IN MEDICAL SECTOR AND NDT APPLICATIONS TO DRIVE THE MARKET GROWTH

Terahertz has major advantages over other conventional technologies, because, unlike standard metal-only detectors, it is sensitive to the presence of explosives and does not emit ionizing radiation, which is safer than X-rays. It is also used to detect airborne chemical warfare agents and toxic industrial chemicals. Millimeter wave technologies and X-rays need dedicated operators to feed analysis data into the software, whereas terahertz fingerprint technology can be automatically fed into the software, eliminating the need for operator interpretation of multifaceted images as well as the major privacy concerns with regard to both X-Ray and millimeter wave technologies.

LABORATORIES HOLD THE MAJOR MARKET SHARE, BY END USER

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. Thus, the adoption of terahertz technology in laboratories has witnessed a drastic growth over the past two years. Biochemistry, pharmaceutical R&D, and material characterization applications have been the major contributors to the growing terahertz market, in the segment. Pharmaceutical industries are exploring these technology for mass deployment in quality control. With the technology capable of material categorization, the industry uses these systems for composition and thickness testing. Biochemical R&D operations deploy terahertz for accurate measurement and categorisation of components. Many industries are now looking at terahertz for plasma diagnostic operations. The semiconductor industry deploys this technology to quickly and accurately detect cracks and impurities in semiconductor packaging.

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Notable 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. This agreement will integrate Picometrix more closely into the customers supply chain and manufacturing processes.

February 2017: Advantest Corporation introduced the new HF-AWGD (high-frequency arbitrary waveform generator and digitizer) module to extend the capabilities of its EVA100 measurement platform to include high-resolution and high-speed analog devices. With the new module, the EVA100 system can measure all key parameters of mixed-signal, precision and standard analog semiconductors used in high-growth applications, including on-board automotive electronics.

January 2017: Terasense partnered with Eidos Business Lab LLC - an official distributor in Russian Federation. The company shares their extensive experience in supplying end users and various R&D institutions with a wide spectrum of components and turnkey solutions for homeland security and industrial NDT applications.

Major points covered in this research are:-

─Terahertz Technologies Market Overview, Segment by Type (Product Category), by Application, by Region (2020-2023), Competition by Manufacturers

─Global Market Size (Value) of Terahertz Technologies (2020-2023)

─Global Terahertz Technologies Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2020-2023)

─Global Terahertz Technologies Production, Revenue (Value), Price Trend by Type

─Global Terahertz Technologies Market Analysis by Application

─Global Terahertz Technologies Manufacturers Profiles/Analysis

─Terahertz Technologies Manufacturing Cost Analysis

─Industrial Chain, Sourcing Strategy and Downstream Buyers

─Marketing Strategy Analysis, Distributors/Traders

─Market Effect Factors Analysis

─Global Terahertz Technologies Market Forecast (2020-2023)

─Competitive Landscape

─Research Findings and Conclusion

Finally, this Terahertz Technologies report covers the market scenario and its development prospects over the coming years. The report likewise manages the type analysis, contrasting it with the significant application, recent Terahertz Technologies product development, and gives an outline of the potential global market.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

This release was published on openPR.