Terahertz Technologies Market Size, Trends, Growth and Forecast 2023-2028
According to IMARC Group’s latest report, titled “Terahertz Technologies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.”, The global terahertz technologies market size reached US$ 548.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,032.2 Million by 2028, exhibiting a growth rate (CAGR) of 24.5% during 2023-2028.
Terahertz (THz) technologies are based on electromagnetic radiation (EMR), which lies in the spectrum between infrared radiation (IR) and microwaves. They can penetrate paper, wood, clothing, plastic, ceramics, cardboard, masonry, etc., without causing any damage. THz technologies yield high-resolution images and aid in transferring vast amounts of data quickly. Furthermore, their low-energy levels make them non-invasive, non-destructive, and intrinsically safe for humans, plants, and animals, compared to X-rays and near-infrared radiation (NIR).
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Terahertz Technologies Market Trends:
The rising utilization of THz in the food and beverage (F&B) industry for conducting non-destructive analysis (NDT) of sealed packages is bolstering the market growth. Moreover, the growing awareness towards numerous benefits of THz technologies in early diagnosis cancer is also augmenting the global market. Besides this, the increasing requirement for visualizing wounds under gypsum or bandage layers is acting as another growth-inducing factor. Additionally, THz technologies are gaining traction in the pharmaceutical industry to perform non-destructive, internal, and chemical analysis of various dosage forms, which is also propelling the market growth. Apart from this, the increasing applications of THz technologies for remote screening of people and luggage at airports due to the elevating public security concerns are expected to fuel the global terahertz technologies market over the forecasted period
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Advantest Corporation
- Bakman Technologies LLC
- Batop GmbH
- Gentec Electro-Optics Inc.
- HÜBNER GmbH & Co KG
- Luna Innovations Inc.
- Menlo Systems GmbH
- Teraprobes Inc
- Terasense Group Inc.
- TeraView Limited
- TOPTICA Photonics AG.
Key Market Segmentation:
The report has categorized the market based on type, component, and end use industry.
Breakup by Type:
- Terahertz Imaging Systems
- Active System
- Passive System
- Terahertz Spectroscopy Systems
- Time Domain
- Frequency Domain
- Terahertz Communication Systems
Breakup by Component:
- Terahertz Sources
- Terahertz Detectors
Breakup by End Use Industry:
- Healthcare and Medical
- Defense and Security
- Food and Agriculture
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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