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Market Research Report
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996461

Terahertz Market (2021 - 2026)

Published: | IndustryARC | 84 Pages | Delivery time: 2-3 business days

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Terahertz Market (2021 - 2026)
Published: January 22, 2021
IndustryARC
Content info: 84 Pages
Delivery time: 2-3 business days
  • Description
  • Table of Contents

The market for Terahertz is forecast to reach $1,382.66 million by 2025, growing at a CAGR of 27.44% from 2021 to 2026. 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.

Report Coverage

The report: "Terahertz Market - Forecast (2021-2026)", by IndustryARC covers an in-depth analysis of the following segments of the Terahertz market.

  • By Sources: Natural, Artificial, Others
  • By Sensor Type: Schottky barrier diode, Golay cell, Micro bolometer, Pyroelectric detector, Broadband antennas, High electron mobility transistor, Superconductive hot-spot air-bridge bolometer
  • By System Type: System based on spectroscopy, Systems based imaging, Terahertz radar, Terahertz sensing, Emerging systems, antennas
  • By Devices: Portable Terahertz imaging, Cameras, Terahertz detectors, Generators, Terahertz sources, Spectroscopes, Communication devices, Computing devices, Others
  • By Application: Industrial NDT, Defense & Homeland security, Food and beverage, Biomedical, Telecommunications, Banking & Financial Security, Others
  • By Geography: North America, South America, Europe, APAC, and RoW

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.

Sensor Type - Segment Analysis

Micro Bolometer is analysed to grow at highest rate during the forecast period. Micro bolometers are used as detector in thermal cameras. Micro bolometers detects the terahertz radiation and changes the electrical resistance. The development of terahertz imaging systems based on narrow band micro bolometers sensors and novel diffractive lens are successfully applied for spectroscopic microscopy applications. The narrow band micro bolometer sensors (NBMS) is a sensitive terahertz frequency selective sensor which is widely used nowadays for the development of compact all electronic systems for multispectral terahertz measurements. The terahertz using micro bolometers for sensing applications are the most suitable detectors for terahertz imaging and spectroscopic applications.

Application- Segment Analysis

Industrial NDT segment is the major segment by application for the Terahertz market. This is owing to the properties that this technology has that improve various industrial operations. Terahertz imaging is widely used in aircraft, spacecraft non-destructive testing applications. In aircrafts, exterior is coated with specialty chemicals that are particularly difficult to measure. Terahertz pulses can be used to measure coating thickness once the coating gets dried. Adoption of portable terahertz scanners in aircrafts in providing the necessary information to assemble the airframe in order to ensure that parts are properly aligned is set to drive the terahertz market. In 2019, Teratonics, a French based deep tech start-up with a proprietary technology for contactless non-destructive testing (NDT) and imaging had received a seed investment from Socomore Ventures. Growing funding activities for terahertz systems in NDT applications is set to provide opportunities for the market.

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 2021-2026. 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

The Security concerns have been a major issue so, the number of security application has been increasing that are driving the growth of terahertz market. The government and private enterprises has invested a large amount of money owing to growing terrorist activity. Security checks and surveillance have been the areas of concern in airports and other security critical places where there is a risk of terrorist attack. So, these factors are driving the growth of market. Increasing adoption of terahertz technology in industries such as aerospace and defence and homeland security and increasing investment in R&D activities are some of the factors that are contributing the growth of market.

Increasing Demand for Terahertz Technology in Medical Sector

Increasing application of high-end terahertz devices in biology and medical science sectors and also high demand in research laboratory and process control monitoring processes are some factors driving the growth of market. Terahertz has shown a great potential in biomedical research owing to its unique features such as non-invasive and label-free identification of living cells and medical imaging. Terahertz technology is widely used for blood cell detection, cancer cell characterization, bacterial identification, and biological tissue discrimination that are increasing the growth of terahertz market.

Challenges - Terahertz Market

High Cost of Terahertz Technology

High cost of terahertz technology and lack of awareness regarding terahertz technology can result into slow adoption rate and concerns regarding accuracy and reliability issues are some factors that are restraining the growth of market. According to National Institute of Information and Communications Technology, the cost of terahertz technology is high and is estimated to increase about $100,000 owing to use of laser and other costly technologies. So, limited penetration of terahertz technology, scattering effect, limited sensitivity and low limit detection are some factors that are challenging the growth of market.

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.

Acquisitions/Technology Launches

In June 2018, TeraMetrix has launched New Products for the Non-Destructive Testing Market at ECNDT.

In February 2019, Advantest Corporation completes the acquisition of semiconductor level test business from Astronics Corporation.

Product Code: ESR 0208

Table of Contents

1. Terahertz Market - Overview

  • 1.1. Definitions and Scope

2. Terahertz Market - Executive summary

  • 2.1. Market Revenue, Market Size and Key Trends by Company
  • 2.2. Key Trends by type of Application
  • 2.3. Key Trends segmented by Geography

3. Terahertz Market

  • 3.1. Comparative analysis
    • 3.1.1. Product Benchmarking - Top 10 companies
    • 3.1.2. Top 5 Financials Analysis
    • 3.1.3. Market Value split by Top 10 companies
    • 3.1.4. Patent Analysis - Top 10 companies
    • 3.1.5. Pricing Analysis

4. Terahertz Market Forces

  • 4.1. Drivers
  • 4.2. Constraints
  • 4.3. Challenges
  • 4.4. Porters five force model
    • 4.4.1. Bargaining power of suppliers
    • 4.4.2. Bargaining powers of customers
    • 4.4.3. Threat of new entrants
    • 4.4.4. Rivalry among existing players
    • 4.4.5. Threat of substitutes

5. Terahertz Market -Strategic analysis

  • 5.1. Value chain analysis
  • 5.2. Opportunities analysis
  • 5.3. Product life cycle
  • 5.4. Suppliers and distributors Market Share

6. Terahertz Market - By Sources (Market Size -$Million / $Billion)

  • 6.1. Market Size and Market Share Analysis
  • 6.2. Application Revenue and Trend Research
  • 6.3. Product Segment Analysis
    • 6.3.1. Introduction
    • 6.3.2. Natural
      • 6.3.2.1. Black body radiation
    • 6.3.3. Artificial
      • 6.3.3.1. Gyrotron
      • 6.3.3.2. Backward wave oscillators(BWO)
      • 6.3.3.3. Far infrared laser(fir laser)
      • 6.3.3.4. Quantum cascade laser
      • 6.3.3.5. Free electron laser(Fel)
      • 6.3.3.6. Synchrotron light sources
      • 6.3.3.7. Photo-mixing sources
      • 6.3.3.8. Others
      • 6.3.3.8.1. Photoconductive
      • 6.3.3.8.2. Surface field
      • 6.3.3.8.3. Photo-dember
      • 6.3.3.8.4. Optical rectification emitters

7. Terahertz Market - By Terahertz sensors (Market Size -$Million / $Billion)

  • 7.1. Schottky barrier diode
  • 7.2. Golay cell
  • 7.3. Microbolometer
  • 7.4. Pyroelectric detector
  • 7.5. Broadband antennas
  • 7.6. High electron mobility transistor(HEMT)
  • 7.7. Superconductive hot-spot air-bridge bolometer

8. Terahertz Market - By system type (Market Size -$Million / $Billion)

  • 8.1. Systems based on spectroscopy
    • 8.1.1. Time domain spectroscopy
    • 8.1.2. Frequency domain spectroscopy
  • 8.2. Systems based on imaging
    • 8.2.1. Imaging by canning
    • 8.2.2. Incoherent imaging
  • 8.3. Terahertz radar
  • 8.4. Terahertz sensing
  • 8.5. Emerging systems
  • 8.6. Antennas

9. Terahertz Market - By Applications (Market Size -$Million / $Billion)

  • 9.1. Industrial NDT
    • 9.1.1. Chemical composition analysis and molecular structure
    • 9.1.2. Composites QA/QC & Maintenance
    • 9.1.3. Pharmaceutical products QC
    • 9.1.4. Control of semiconductors
    • 9.1.5. Thickness measurements
    • 9.1.6. others
  • 9.2. Defense and homeland security
    • 9.2.1. Explosives and harmful materials point sensing
    • 9.2.2. Bio/chemical agents detection
    • 9.2.3. Weapons detection
      • 9.2.3.1. People scanning and imaging
      • 9.2.3.2. Baggage and package imaging
    • 9.2.4. Mail scanning
  • 9.3. Food and beverages
  • 9.4. Biomedical
    • 9.4.1. Oncology
    • 9.4.2. Dentistry
    • 9.4.3. Dermatology
    • 9.4.4. Biosensors
    • 9.4.5. Medical imaging
  • 9.5. Telecommunications
    • 9.5.1. High-speed outside communication
    • 9.5.2. Broadband indoor communication
  • 9.6. Banking and financial security
    • 9.6.1. Authentication of important documents
    • 9.6.2. Detect counterfeit money
  • 9.7. Others
    • 9.7.1. Atmospheric chemistry
    • 9.7.2. Laboratory research applications
    • 9.7.3. Astrophysics and radio-astronomy

10. Terahertz Market - By Devices (Market Size -$Million / $Billion)

  • 10.1. Portable terahertz imaging systems
  • 10.2. Cameras
  • 10.3. Terahertz detectors
  • 10.4. Generators
  • 10.5. Terahertz sources
  • 10.6. Spectroscopes
  • 10.7. Communication devices
  • 10.8. Computing devices
  • 10.9. Other sensors
  • 10.10. others

11. Terahertz - By Geography (Market Size -$Million / $Billion)

  • 11.1. Terahertz Market - North America Segment Research
  • 11.2. North America Market Research (Million / $Billion)
    • 11.2.1. Segment type Size and Market Size Analysis
    • 11.2.2. Revenue and Trends
    • 11.2.3. Application Revenue and Trends by type of Application
    • 11.2.4. Company Revenue and Product Analysis
    • 11.2.5. North America Product type and Application Market Size
      • 11.2.5.1. U.S.
      • 11.2.5.2. Canada
      • 11.2.5.3. Mexico
      • 11.2.5.4. Rest of North America
  • 11.3. Terahertz - South America Segment Research
  • 11.4. South America Market Research (Market Size -$Million / $Billion)
    • 11.4.1. Segment type Size and Market Size Analysis
    • 11.4.2. Revenue and Trends
    • 11.4.3. Application Revenue and Trends by type of Application
    • 11.4.4. Company Revenue and Product Analysis
    • 11.4.5. South America Product type and Application Market Size
      • 11.4.5.1. Brazil
      • 11.4.5.2. Venezuela
      • 11.4.5.3. Argentina
      • 11.4.5.4. Ecuador
      • 11.4.5.5. Peru
      • 11.4.5.6. Colombia
      • 11.4.5.7. Costa Rica
      • 11.4.5.8. Rest of South America
  • 11.5. Terahertz - Europe Segment Research
  • 11.6. Europe Market Research (Market Size -$Million / $Billion)
    • 11.6.1. Segment type Size and Market Size Analysis
    • 11.6.2. Revenue and Trends
    • 11.6.3. Application Revenue and Trends by type of Application
    • 11.6.4. Company Revenue and Product Analysis
    • 11.6.5. Europe Segment Product type and Application Market Size
      • 11.6.5.1. U.K
      • 11.6.5.2. Germany
      • 11.6.5.3. Italy
      • 11.6.5.4. France
      • 11.6.5.5. Netherlands
      • 11.6.5.6. Belgium
      • 11.6.5.7. Spain
      • 11.6.5.8. Denmark
      • 11.6.5.9. Rest of Europe
  • 11.7. Terahertz - APAC Segment Research
  • 11.8. APAC Market Research (Market Size -$Million / $Billion)
    • 11.8.1. Segment type Size and Market Size Analysis
    • 11.8.2. Revenue and Trends
    • 11.8.3. Application Revenue and Trends by type of Application
    • 11.8.4. Company Revenue and Product Analysis
    • 11.8.5. APAC Segment - Product type and Application Market Size
      • 11.8.5.1. China
      • 11.8.5.2. Australia
      • 11.8.5.3. Japan
      • 11.8.5.4. South Korea
      • 11.8.5.5. India
      • 11.8.5.6. Taiwan
      • 11.8.5.7. Malaysia

12. Terahertz Market - Entropy

  • 12.1. New product launches
  • 12.2. M&A's, collaborations, JVs and partnerships

13. Terahertz Market Company Analysis

  • 13.1. Market Share, Company Revenue, Products, M&A, Developments
  • 13.2. Qualcomm Technologies, Inc.
  • 13.3. Advanced Photonix, Inc.
  • 13.4. Toptica Photonics AG
  • 13.5. Menlo Systems GmbH
  • 13.6. QMC Instruments Ltd.
  • 13.7. Company 6
  • 13.8. Company 7
  • 13.9. Company 8
  • 13.10. Company 9
  • 13.11. Company 10 and more

"*Financials would be provided on a best efforts basis for private companies"

14. Terahertz Market -Appendix

  • 14.1. Abbreviations
  • 14.2. Sources