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Terahertz Technology Market Size

Report ID: GMI9159
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Published Date: April 2024
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Report Format: PDF

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Terahertz Technology Market Size

Terahertz Technology Market was valued at over USD 780 million in 2023 and is estimated to register a CAGR of over 15.5% between 2024 and 2032. The integration of terahertz technology into automotive and aerospace industries is a significant growth driver owing to its potential for enhancing safety & efficiency.

 

Terahertz Technology Market

In automotive applications, terahertz sensors can enable Advanced Driver Assistance Systems (ADAS) for collision avoidance and autonomous driving. In aerospace, terahertz technology offers non-destructive testing capabilities for composite materials, ensuring structural integrity and safety of aircraft components. The increasing reliance of industries on terahertz solutions drives innovations and market expansion, fostering collaborations between technology developers & manufacturers..

For instance, in February 2024, Montreal Metropolitan Airport (YHU) received a USD 90-million investment from the Canada Infrastructure Bank (CIB) for a new passenger terminal. The investment is expected to enable the development of a new domestic airport terminal to enhance mobility options for Canadians traveling to & from Montreal while supporting economic opportunities in the Montreal region. Such investments are likely to add opportunities for evolving technologies that are expected to promote the proper functioning of airport infrastructures including terahertz scanners.
 

The growing adoption of terahertz technology in security & surveillance is a significant growth driver owing to its ability to penetrate various materials, including clothing and packaging, enabling effective screening for concealed objects such as weapons or explosives. Terahertz imaging systems offer superior capabilities for detecting hidden threats without the use of ionizing radiation, making them suitable for security applications in airports, public venues, and border control. This increasing demand for enhanced security measures propels the expansion of the terahertz technology market.
 

Potential health concerns related to terahertz radiation exposure pose a significant pitfall for the market. While terahertz radiation is non-ionizing and generally considered safe at low power levels, prolonged or intense exposure may raise concerns about thermal effects and tissue heating. Lack of comprehensive studies on long-term effects and uncertainties regarding exposure limits could lead to regulatory hurdles and public skepticism, hindering widespread adoption across various applications such as security screening and medical imaging. Addressing these concerns through rigorous research and clear safety guidelines is essential for market growth.
 

Authors: Suraj Gujar, Deeksha Vishwakarma
Frequently Asked Question(FAQ) :
How big is the terahertz technology market?
Industry size for terahertz technology recorded over USD 780 million in 2023 and is expected to depict over 15.5% CAGR from 2024 to 2032, due to rising integration into automotive and aerospace sectors owing to its potential for enhancing safety and efficiency.
Why is the demand for terahertz communication systems rising?
What factors are influencing terahertz technology market growth in North America?
Who are the leading terahertz technology industry players?
Terahertz Technology Market Scope

Report Content

Chapter 1   Methodology & Scope

1.1    Market scope & definition

1.2    Base estimates & calculations

1.3    Forecast calculation

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2   Executive Summary

2.1    Terahertz technology industry 3600 synopsis, 2018 - 2032

2.2    Business trends

2.2.1    Total addressable market (TAM), 2024-2032

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.2    Vendor matrix

3.3    Profit margin analysis

3.4    Technology & innovation landscape

3.5    Patent analysis

3.6    Key news and initiatives

3.7    Regulatory landscape

3.8    Impact forces

3.8.1    Growth drivers

3.8.1.1    Increasing demand for non-destructive testing and imaging applications

3.8.1.2    Integration of terahertz technology in automotive and aerospace industries

3.8.1.3    Growing adoption of terahertz technology in security and surveillance

3.8.1.4    Expanding applications in pharmaceutical quality control and medical imaging

3.8.1.5    Emerging opportunities in wireless communication and data transmission

3.8.2    Industry pitfalls & challenges

3.8.2.1    Potential health concerns related to terahertz radiation exposure

3.8.2.2    Competition from alternative technologies in specific applications

3.9    Growth potential analysis

3.10    Porter’s analysis

3.10.1    Supplier power

3.10.2    Buyer power

3.10.3    Threat of new entrants

3.10.4    Threat of substitutes

3.10.5    Industry rivalry

3.11    PESTEL analysis

Chapter 4   Competitive Landscape, 2023

4.1    Introduction

4.2    Company market share analysis

4.3    Competitive positioning matrix

4.4    Strategic outlook matrix

Chapter 5   Market Estimates & Forecast, By Type, 2018 - 2032 (USD Million)

5.1    Key trends

5.2    Terahertz Imaging systems

5.2.1    Active system

5.2.2    Passive system

5.3    Terahertz spectroscopy systems

5.3.1    Time domain

5.3.2    Frequency domain

5.4    Communication systems

Chapter 6   Market Estimates & Forecast, By Application, 2018 - 2032 (USD Million)

6.1    Key trends

6.2    Laboratory research

6.3    Healthcare

6.4    Satellite communication

6.5    Industrial NDT

6.6    Military & defense

6.7    Wireless communication

6.8    Others

Chapter 7   Market Estimates & Forecast, By End User, 2018 - 2032 (USD Million)

7.1    Key trends

7.2    Defense and security

7.3    Telecommunications

7.4    Industrial

7.5    Food and agriculture

7.6    Laboratories

7.7    Others

Chapter 8   Market Estimates & Forecast, By Region, 2018 - 2032 (USD Million)

8.1    Key trends

8.2    North America

8.2.1    U.S.

8.2.2    Canada

8.3    Europe

8.3.1    UK

8.3.2    Germany

8.3.3    France

8.3.4    Italy

8.3.5    Spain

8.3.6    Rest of Europe

8.4    Asia Pacific

8.4.1    China

8.4.2    India

8.4.3    Japan

8.4.4    South Korea

8.4.5    ANZ

8.4.6    Rest of Asia Pacific

8.5    Latin America

8.5.1    Brazil

8.5.2    Mexico

8.5.3    Rest of Latin America

8.6    MEA

8.6.1    UAE

8.6.2    South Africa

8.6.3    Saudi Arabia

8.6.4    Rest of MEA

Chapter 9   Company Profiles

9.1    Advantest Corporation

9.2    Batop GmbH

9.3    Digital Barriers plc

9.4    Luna Innovations

9.5    Menlo Systems GmbH

9.6    Microtech Instruments, Inc.

9.7    Terahertz Device Corporation

9.8    Teraphysics Corporation

9.9    Terasense Group Inc.

9.10    TeraView

9.11    TeTechS

9.12    Toptica Photonics AG

Authors: Suraj Gujar, Deeksha Vishwakarma
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Premium Report Details

Base Year: 2023

Companies covered: 12

Tables & Figures: 45

Countries covered: 21

Pages: 245

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