Terahertz Technology Industry worth $1.2 Billion by 2027
According to a research report "Terahertz Technology Industry by Type (Terahertz Imaging, Terahertz Spectroscopy, Terahertz Communication Systems), Application (Laboratory Research, Medical & Healthcare, Satellite Communication), and Geography - Global Forecast to 2027" published by MarketsandMarkets, the global terahertz technology industry was valued at USD 0.6 billion in 2022 and is projected to reach USD 1.2 billion by 2027, registering a CAGR of 14.7% during the forecast period. Stringent government regulations for public safety and homeland security and rise in demand for terahertz technology in the medical sector are the major driving factors for the growth of the terahertz technology market.
Browse 230 market data Tables and 58 Figures spread through 247 Pages and in-depth TOC on "Terahertz Technology Industry by Type (Terahertz Imaging, Terahertz Spectroscopy, Terahertz Communication Systems), Application (Laboratory Research, Medical & Healthcare, Satellite Communication), and Geography - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/terahertz-technology-market-71182197.html
By application: Laboratory research in terahertz imaging and spectroscopy to propel market growth
The terahertz technology used to manufacture imaging and spectroscopy products frequently undergo research and development (R&D) activities. In laboratory research, researchers can determine the variables; the series of manipulations and preventive measures can be specified precisely; and then it can be administered in the desired sequence, with high response rates and relative attention. Researchers can identify relevant variables and operationalize them deliberately. Hence, laboratory research application is projected to hold the largest share of terahertz technology market in 2027.
Increasing application areas of terahertz communication systems to accelerate demand for terahertz technology
The terahertz communication systems segment is expected to grow with the highest CAGR during the forecast period. Satellite communication plays a vital role in data transmission in the global telecommunication system. The key advantages of satellite communications are that wireless and mobile communication applications can be effortlessly established irrespective of the location, covers a wide geographical area of the earth with just one satellite, and enables point to multipoint communication. Therefore, these factors are expected to create lucrative opportunities for the growth of terahertz communication system manufacturers in the near future.
Asia Pacific likely to emerge as the largest terahertz technology industry during the forecast period
The terahertz technology industry in Asia Pacific is expected to grow at the highest CAGR ~16.6% during the forecast period, while China in the Asia Pacific region accounted for the largest share of the terahertz technology market in 2021; a similar trend is seen during the forecast period. This growth can be attributed to the expansion of the Chinese economy, as China plans to modernize its economic infrastructure and increase the number of industries. Along with this, Chinese scientists are focusing on developing new communication products based on terahertz technology in the region thereby propelling the growth of market.
ADVANTEST CORPORATION (Japan), Luna Innovations (US), TeraView Limited. (UK), TOPTICA Photonics AG (Germany), HÜBNER GmbH & Co. KG (Germany), Menlo Systems (Germany), Terasense Group Inc. (US), Gentec Electro-Optics (Canada), QMC Instruments Ltd. (UK), and TeraVil Ltd. (Lithuania) are some of the key players in the terahertz technology industry.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Terahertz Technology Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
