Terahertz imaging systems are expected to lead the global terahertz technology market

The global terahertz technology market is expected to reach USD 489.8 Million by 2022, growing at a CAGR of 31.83% between 2016 and 2022. The main drivers of the growth of this market include the increasing adoption of terahertz technology-based products for laboratory research applications in various universities & research firms globally and the growing demand for these products in various cancer treatment institutes & hospitals worldwide for more informative results. The terahertz technology market has been segmented on the basis of type, technology, application, and region. In this report, 2014 has been considered as the historical year, 2015 has been considered as the base year, the 2016 to 2022 has been considered as the forecast period for the study of the market.

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In addition, the report also profiles the major companies operating in the terahertz technology market. It also provides the competitive landscapes of key players, which includes the key growth strategies adopted by the key players in the market. The report comprises the critical market data and qualitative information for each type along with the qualitative analysis such as the Porter’s five force analysis and value chain analysis.

APAC is expected to grow at the highest CAGR between 2016 and 2022.

The market in APAC is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increase in initiatives, such as heavy investments in R&D to encourage the adoption of terahertz technology, taken by the countries such as China, India, and Japan in this region.

The market for laboratory research applications is expected to grow at the highest CAGR between 2016 and 2022

The terahertz technology market for laboratory research applications is expected to grow at the highest CAGR during the forecast period since the terahertz technology market is not a mature market and is experiencing continuous technological advancements. Hence, the technologies used to manufacture the terahertz technology-based products frequently undergo R&D activities.

The market is dominated by the key players such as Advantest Corporation (Japan), TeraView (U.K.), Menlo Systems GmbH (Germany), Acal plc (U.K.), and Microtech Instrument Inc. (U.S.).

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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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