Terahertz Market Spurred By Growing Adoption of Terahertz Technology In Aerospace & Defense Applications & Predicted To Register Healthy Growth Till The End of Forecast Period.
According to the market research report “Terahertz Market: by sources (natural, artificial), by sensors (Schottky diode, bolometer, others), systems (spectroscopy, imaging, others), By Applications (industrial NDT, defense, biomedical, others), devices and geography - Forecast (2016 - 2021)”, published by IndustryARC, estimates that Asia-Pacific will register the fastest growth during the forecast period.
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Terahertz or THz is a unit of frequency. Terahertz radiation is also known as THz Radiation or sub millimeter radiation or Terahertz waves or T-Rays.
These radiations lie between microwaves and infrared light waves.
That region is known as terahertz gap. Terahertz radiations are capable of easily penetrating into various materials.
The energy carried by terahertz radiation is low enough to pose no risk to any object under investigation. Technological advancements have enabled terahertz frequency band accessible for imaging systems.
Terahertz Market has found various application in various fields such as defense and homeland security, food and beverages, biomedical, telecommunications and others.
Scope & Regional Forecast of the Terahertz Market
Increasing adoption of terahertz radiation in various industries such as aerospace and defense and homeland security is driving the Terahertz Market over the forecast period. Growing penetration of terahertz technology in medical science and biology sectors and increasing applications of high end terahertz devices in research laboratory and process control monitoring processes are also driving growth for the market of terahertz.
Increasing investments in R & D activities is expected to create growth opportunities for the Terahertz Market. However, the lack of awareness regarding the benefits of using terahertz results into slow adoption rate that affects on the market growth.
In addition, concerns regarding accuracy and reliability issues act as key restraint for the market growth.
Americas is dominating the Terahertz Market, as it is a significant market for defense and homeland security in this region. Asia-Pacific is projected to register the fastest growth during the forecast period.
APAC is expected to play a major role in this market. Europe is estimated to have significant growth during the forecast period, whereas Rest of the World is expected to register moderate growth.
Segmentations & Key Players Involved in the Terahertz Market
The Terahertz Market can be broken down into various segmentations on the basis of -
- Sources: Natural And Artificial.
- Terahertz Sensors: Schottky Barrier Diode, Golay Cell, Microbolometer, Pyroelectric Detector, Broadband Antennas, High Electron Mobility Transistor(HEMT) And Super-conductive Hot-Spot Air-Bridge Bolometer.
- System Type: Systems Based On Spectroscopy, Systems Based On Imaging, Terahertz Radar, Terahertz Sensing, Emerging Systems And Antennas.
- Applications: Industrial NDT, Defense And Homeland Security, Food And Beverages, Biomedical, Telecommunications, Banking And Financial Security And Others.
- Devices: Portable Terahertz Imaging Systems, Cameras, Terahertz Detectors, Generators, Terahertz Sources, Spectroscopes, Communication Devices, Computing Devices, Other Sensors And Others.
- Region: Americas, Europe, Asia-Pacific and Rest of the World.
Some of the key players involved in the Terahertz Market are as follows:
- Qualcomm Technologies, Inc.
- Microtech Instrument Inc.
- Toptica Photonics AG
- EMCORE Corporation
- Bridge12 Technologies, Inc.
Why access this report?
* The overall market has been consolidated from the perspective of different geographic locations and key economies for this market.
* Identifies growth sectors and factors driving or constraining the market.
* The market is analyzed based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants.
* The study includes the demand of this particular market on a global and regional scale for a five year period of 2016 - 2021, to assess how the market will develop.
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