Terahertz Technology Market estimated to be worth 489.8 Million USD by 2022

The terahertz technology market is expected to grow at CAGR of 31.83% between 2016 and 2022 to reach USD 489.8 Million by 2022. 

The key drivers responsible for the growth of this market include the increase in demand for terahertz technology-based products in the defense & homeland security and medical sectors and the high adoption rate of these products for laboratory research applications. The increasing awareness about the optoelectronic approaches based on modern laser technologies as well as high-power electronic emitters help the terahertz technology market grow.

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The market for terahertz imaging is expected to hold a major share of the overall terahertz technology market (by type) in 2016 and grow at a significant rate between 2016 and 2022. The low photon energy of terahertz electromagnetic waves make them non-ionizing and harmless even after over exposure to them. This factor is driving the growth of the market for terahertz imaging.

This report provides valuable insights regarding ecosystem of this market such as product manufacturers and suppliers, OEMs, system integrators, middleware and firmware providers, suppliers and distributors, research institutes, optical wireless communication technology providers, pharmaceutical product manufacturers, automobile manufacturers, tracking and monitoring device manufacturers, and standardization and testing firms.

In this research report, the global terahertz technology market is segmented on the basis of type, technology, application, and region. This report describes the drivers, restraints, opportunities, and challenges for the growth of the market. The Porter’s five forces analysis has been included in the report with a description of each of its forces and their respective impact on the global terahertz technology market. 

This report gives a detailed view of the market across the four major regions: the North America, Europe, APAC, and RoW. In addition, it gives a detailed view of the types of terahertz technology-based systems, which include terahertz imaging systems, terahertz spectroscopy systems, and terahertz communication systems. It also covers the applications of the terahertz technology-based systems such as terahertz imaging, spectroscopy, and terahertz communication system applications. In addition, the market has also been segmented on the basis of technology into terahertz sources and detectors.

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