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Venkat Reddy
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Terahertz Market to Grow at a CAGR of 27.44% During the Forecast Period 2020-2025
Huge Increase in Demand for Security System Driving the Growth of Terahertz Market., 8/10/2020 - The Market for Terahertz is forecast to reach $1,382.66 million by 2025, growing at a CAGR of 27.44% from 2020 to 2025. Terahertz (THz) represents the portion of the electromagnetic radiation between the microwave and the infrared region. It is within the frequency range of 0.1–10 THz, corresponding to wavelengths of radiation from 3000 to 30 µm. This technology is poised to be fast growing in the coming years owing to its properties such as high chemical sensitivity and non-ionizing property.

Key Takeaways

Americas is set to be the dominant region for Terahertz market owing to the high adoption of terahertz technology in defence sector.

Industrial NDT is analysed to be dominant segment in the terahertz market owing to the wide spread applications of terahertz technology in the non-destructive testing equipment.

Increasing demand from the security is analysed to be the key driver for the terahertz market.

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Geography - Segment Analysis

Americas dominated the terahertz market in 2019 majorly attributed to the Adoption of this technology, in initial stages. Also, there is high production and export of terahertz devices from this region for defence sector, further contributing to its dominance. However, Asia-Pacific region is estimated to be the fastest growing region and will witness a CAGR of 30.34% during the forecast period 2020-2025. Large amount of investments as well as the research are being performed in these countries are resulting in the rapid growth of terahertz technology in this region for the coming years. Due to the large presence of manufacturing companies in China, a moderate growth rate is expected in the terahertz technology market. China Unicom has begun research into Terahertz communication, one of the main 6 G technologies. The company, in collaboration with 20 other companies and research organizations, has formed a research organisation, the Millimeter Wave Terahertz Joint Innovation Centre. The research collaboration will create several demonstration projects and establish a dozen or more standards, helping to expand the terahertz market.

Drivers –Terahertz Market

Huge Increase in Demand for Security System

Increasing Demand for Terahertz Technology in Medical Sector

Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Terahertz market. Terahertz market is expected to be dominated by major companies such as Advanced Photonix, Inc., Menlo Systems GmbH, Microtech Instruments, Inc., QMC Instruments Ltd., TeraView Limited, Toptica Photonics AG, Digital Barriers PLC, Advantest Corporation, Acal PLC, TeraSense Inc. among others.

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