TERAHERTZ COMPONENTS AND SYSTEMS MARKET ANALYSIS

Terahertz Components and Systems Market: Providing Continuous Process Management and Quality Control

The terahertz regime is compressed between infrared and microwaves, bridging the gap between optics and electronics. Electromagnetic waves with frequencies range between 100 GHz and 10 THz is primarily refers to as terahertz technology. Growing application of terahertz technology for material and equipment inspection, medical imaging, industrial process control management and research laboratories is anticipated to accelerate the growth of the terahertz components and systems market across different regions globally. X ray scanners, security systems, luggage scanners and complex medical imaging systems are some of the key application area of terahertz technologies. With the increasing research activities, the application of terahertz systems are expanding to space aircrafts and aerospace systems. Rising penetration for terahertz technology in nondestructive testing for different materials is also fueling the market for terahertz components and systems market globally. Terahertz imaging is one of the major nondestructive evaluation method which is primarily used for the dielectric materials inspection as well as quality control in the biomedical, pharmaceutical, security, aerospace and materials characterization industries. Moreover, active imaging methods are used for medical imaging as it is biologically safe and it is used for detecting skin cancer which is also one of the major driving factor for the market.

The global terahertz components and systems market was valued at US$ 96.3 million in 2017 and is expected to witness a CAGR of 27.9% during the forecast period (2017 – 2025).

Figure 1. Global Terahertz Components and Systems Market Attractiveness, By Region

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Source: Coherent Market Insights Analysis (2017)

Increasing application of terahertz technology in nondestructive testing for biomedical and pharmaceutical materials drives the growth of terahertz components and systems market

Increasing application of terahertz technology for characterization and thickness mapping of ceramic, dielectric and composite materials is one of the major driving factor for the market. Terahertz technology primarily characterizes micro-structure variation in dielectric materials without causing any damage. Growing prevalence of chronic dieses like cancer and other skin related problems demand advanced technology based devices for better and quick detection for fast recovery. This in turn is boosting the application of terahertz radiations in different high end medical devices globally. The growing government initiatives towards security in high alert zones like airports, railway stations and metro stations along with  growing concern towards homeland security is also anticipated to drive the global market over the forecast period. The available terahertz devices are expensive and bulky which may hinder the growth of the market in near future. However, with the increasing research activities in this field is working on innovating flexible and cost effective terahertz devices. Moreover, developments in terms of system robustness, cost efficiency and measuring speed have to be implemented to make terahertz systems more competitive.

Advanced terahertz technology for quality control and process management is a prominent factor to fuel the terahertz components and systems market

T-rays or terahertz radiations shows potential application in the food industry for quality control process. Owing to its sensitivity towards water, so terahertz radiations are suitable for moisture detection. Increasing technological advancement in the food industry along with growing concern towards food quality is boosting the market for terahertz components and systems globally. Moreover, solar industry and homeland security are some of the prime application areas of terahertz technology which is anticipated to have positive impact on the market over the forecast period. Terahertz technology also have potential applications in archeological and historical studies as it can primarily characterizes the metal, stone, paints and any material without causing any damage. Terahertz systems have potential applications for chemical recognition. Furthermore, terahertz technology also have applications in advanced telecommunications which is having a positive impact on the market for terahertz components and systems over the forecast period.