According to the new market research report "Terahertz Technology Market
by Type (Terahertz Imaging, Terahertz Spectroscopy, and Terahertz
Communication Systems), Technology (Terahertz Source and Terahertz
Detector), Application & Region - Analysis & Forecast to 2022",
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.
This growth can be attributed to the high adoption rate of terahertz
technology-based products for laboratory research applications, and
growing demand for these products from the defense & homeland
security and medical sectors. This report includes an in-depth analysis
of the market by type, technology, application, and region.
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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.
https://www.marketsandmarkets.com/pdfdownload.asp?id=71182197
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.
The continuous developments in the technology due to
focused research carried out in various universities worldwide create
more opportunities for the adoption of terahertz technology for various
new applications such as food quality inspection. However, for such
researches, there is a need for more precise products. This requirement
proves to be the key driving factor for the growth of the market for
laboratory research applications. This market held the largest market
share in 2015 and is expected to grow at the highest CAGR between 2016
and 2022.
The terahertz technology market is not mature. On the
other hand, the market players are filing patents for the same.
Moreover, the cost incurred in R&D is quite high due to the use of
laser and other costly technologies. Also, because of the requirement of
high initial investments to develop terahertz technology-based
products, the medium and small players cannot afford to develop these
products. This is a major factor limiting the demand and supply of
terahertz technology-based products which, in turn, restraining the
growth of the market.
TeraView (U.K.) manufactures instruments that provide
a reliable and robust source of terahertz light and exploit its
properties to characterize a wide range of materials. The company has
adopted the expansion approach to grow in the terahertz technology
market; for example, in June 2014, the company established its presence
in Asia by setting up a new office at Seoul (South Korea) to enhance the
service, technical support, and application-specific expertise for its
customers and commercial partners in the region. It has marked its
presence in the terahertz technology market by launching TPS Spectra
3000, a terahertz imaging and spectroscopy system.
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Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com
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