Global Terahertz Components and Systems Market size is projected to be valued $433 Million by 2024; with a CAGR of 26.7% from 2017 to 2025 Terahertz waves which are also called as undeveloped electromagnetic waves which have the ability to pass through masonry, plastics, wood, cloths, paper, cardboard, and ceramics. The sources for terahertz includes thermal (lamp bodies), electrical (gunn diodes, backward wave oscillators), optical or laser based among others. They are highly used in remote sensing, astronomy, medical testing, drug detection, and communications among others.
Growing application of terahertz technology across various sectors coupled with increased use of this technology in laboratories fuels the demand for terahertz components and systems market. Moreover, expanding utilization of terahertz in medical imaging and non-destructive testing also boosts the growth of the market. However, limitation in penetration depth into materials and disability to focus on spot sizes below 100 micrometer hinders the growth of the market. Furthermore, increasing applications in various sectors and technologies with inexpensive small radiation devices and detectors provide growth opportunity for the market in the upcoming years.
The global Terahertz Components and Systems market is segmented based on the components, systems, applications and geography. By component type, it is further segmented into terahertz sources, terahertz detectors and others. Systems are segmented into system based on spectroscopy (time-domain spectroscopy, frequency domain spectroscopy and imaging by scanning), terahertz radar and terahertz sensing. Furthermore, applications are segmented into industrial process monitoring, research laboratory application, medical imaging, non destructive testing and others.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers U.K., Italy, France, Germany and Rest of Europe. Asia-Pacific covers China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.
Key players of terahertz component and systems market include Digital Barriers PLC, Applied Research & Photonics Inc., M Squared Lasers Ltd, EMCORE Corporation, Digital Barriers Plc., Microtech Instruments Inc., NEC Corporation, Bridge12 Technologies, Inc., Bruker Corporation and Menlo Systems GmbH.
The report covers
Scope of the Global Terahertz Components and Systems Market
Component Type Segments
System Type Segments