Dublin–(business wire) – “Terahertz Technologies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report added to ResearchAndMarkets.com’s Presentation.
The global terahertz technology market is expected to reach a value of US$441.5 million in 2021. Looking ahead, the market will reach USD 1,616.7 million by 2027, exhibiting a CAGR of 24.15% during 2021-2027.
Terahertz (THz) technologies are based on electromagnetic radiation, which lies in the spectrum between infrared radiation (IR) and microwaves. They can penetrate fabric, paper, wood, plastic, ceramics, cardboard, masonry, enclosures and other opaque materials without damage. They produce high-resolution images and help to transfer large amounts of data quickly.
In addition, their low-energy levels make them non-destructive, non-invasive, and intrinsically safe for humans, animals, and plants compared to X-rays and near-infrared radiation (NIR). As a result, they find wide applications in the pharmaceutical industry in which they are used to perform non-destructive, internal, chemical analysis of tablets, capsules and other dosage forms.
Terahertz Technologies Market Trends:
The expansion of applications of THz radiation in various regions across the globe represents one of the major factors contributing to the growth of the market. For example, it is widely employed in the food and beverage (F&B) sector to perform non-destructive analysis (NDT) of sealed packages.
Moreover, the stringent regulations adopted by the governments of many countries regarding public safety and product quality are affecting the market positively. In addition, growing awareness of the benefits of early diagnosis is encouraging the adoption of THz tomography for early stage tooth decay and cancer screening. It is also used to visualize wounds under gypsum or bandage layers.
Also, due to growing public safety concerns, it is gaining traction at airports for remote screening of people and baggage. It also aided in the creation of a new generation of high-frequency wireless telecommunications systems that allow high-speed information transmission between electronic devices.
Furthermore, an increasing number of investments to create affordable, convenient and compact THz technologies-based devices is anticipated to provide a favorable market outlook.
Key questions answered in this report:
- How has the global Terahertz technology market performed so far and how will it perform in the years to come?
- What is the impact of COVID-19 on the global Terahertz technology market?
- What are the major regional markets?
- What is the breakdown of the market by type?
- What is the market breakup on the basis of component?
- What is the market breakdown on the basis of end use industry?
- What are the different stages in the value chain of an industry?
- What are the major driving factors and challenges in the industry?
- What is the structure of the global Terahertz technology market and who are the major players?
- What is the degree of competition in the industry?
The competitive landscape of the industry has also been examined along with the profiles of key players
- Advantage Corporation
- Buckman Technologies LLC
- Batop GmbH
- Gentech Electro-Optics Inc.
- HABNER GmbH & Co. KG
- Luna Innovation Inc.
- Menlo Systems GmbH
- TerraProbes Inc.
- TeraSense Group Inc.
- Terra View Limited
- TOPTICA Photonics AG.
Major Market Segmentation:
- Terahertz Imaging System
- active system
- passive system
- Terahertz Spectroscopy System
- Time Zone
- frequency domain
- terahertz communication system
Breakup by Component:
- terahertz source
- Terahertz detector
Breakup by End Use Industry:
- health care and medicine
- defense and security
- food and agriculture
Breakup by Region:
- South Korea
- United Kingdom
- Middle East and Africa
For more information about this report, visit https://www.researchandmarkets.com/r/o7y87r