Press release
Terahertz Technology Market size to surpass around US$ 189.8 billion by 2031 | Acal BFi Nordic AB (Sweden), Advantest Corporation (Japan), HÜBNER Photonics (Germany)
Terahertz Technology Market
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The global terahertz technology market was valued at US$ 32.1 billion in 2021 and it is anticipated to grow up to US$ 189.8 billion by 2031, at a CAGR of 18.7% during the forecast period.
The terahertz ranges in the electromagnetic spectrum range between the microwaves and infrared spectrum, comprising the frequency of one million oscillations per second. Due to terahertz technology's exceptional properties, terahertz radiation plays a crucial technology to be adopted in the future.
Market Drivers and Trends:
With the growing technological advancement across various industries, the demand for implementing terahertz technology across military & defense and the medical and healthcare sector is also boosting. The growing focus of the manufacturers on the development of terahertz (THz) sources, transmission or reflection, as well as detectors technologies, owing to increasing exploration of the"THz gap," which lies between photonics and electronics. This technology is constantly being utilized in various applications such as chemistry, biomedicine, materials science, security screening, and communication.
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Global Terahertz Technology Market Segmentation:
By Component
Terahertz Sources
Terahertz Detectors
By Type
Terahertz Imaging Systems
Terahertz Spectroscopy Systems
Terahertz Communication Systems
By Application
Medical and Healthcare
Defense and Security
Food and Agriculture
Key Players:
Acal BFi Nordic AB (Sweden)
Advantest Corporation (Japan)
HÜBNER Photonics (Germany)
Luna Innovations Incorporated (US)
Menlo Systems GmbH (Germany)
Microtech Instruments (US)
Terasense Group Inc. (US)
TeraView Limited (UK)
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