Terahertz Components and Systems Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions, and By Key Players: EMCORE Corporation, Menlo Systems, Digital Barriers, NEC Corporation

Registering a CAGR of 27.8% over the forecast period, the market value of Terahertz Components and Systems is expected to reach US$ 570 million in the year 2027.

Terahertz Components and Systems Market Overview

Terahertz technology is widely used in industries for quality control and process control monitoring due to its numerous benefits. The growing preference for terahertz radiation in the pharmaceutical industry and for security screening is driving the global market growth for terahertz components and systems. Furthermore, the growing use of terahertz technology in laboratories is expected to increase the demand for terahertz components.

Terahertz (THz) technology advancement is rapidly increasing its demand in a variety of applications such as THz radars, high-rate communications, medical imaging, environmental monitoring, and space exploration. The high cost of Terahertz Components and Systems production and packaging techniques poses a significant challenge to the cost-effective and large-scale production of these components while manufacturing THz systems. Current terahertz (THz) technology is based on traditional and costly serial production and packaging techniques, such as computer numerical control (CNC) high-precision machines, which are only suitable for high-end research instrumentation.

Terahertz Components and Systems for non-destructive testing (NDT) are in high demand, particularly in the aerospace and defense industries. Terahertz (THz) NDT imaging is one of the most successful applications for detecting defects in the SOFI layers on the space shuttle fuel tank. This is expected to increase the use of non-destructive testing in the aerospace and defense industries.

Who are the Major Players in the Terahertz Components and Systems Market?

The global Terahertz Components and Systems includes the identification and analysis of the various market participants competing in the global market. Prominent competitors include EMCORE Corporation, Menlo Systems, Digital Barriers, NEC Corporation, Bridge12 Technologies, Microtech Instruments, M Squared Lasers, Digital Barriers, Bruker Corporation, Applied Research & Photonics and others.

Industry News and Updates:

Menlo Systems' YLMO Mid-IR: Effective. Tunable. Compact.

In February 2022, Menlo Systems has introduced the YLMO Mid-IR, a compact, powerful, and tunable mid-IR fibre laser for broadband spectroscopy and time-resolved measurements. Broadband spectroscopy applications and time-resolved measurements are available with the device.

What are the major Applications, Types, and Regions for the Terahertz Components and Systems Market?

The market is segmented based on the type, applications, companies, and regions.

By Type, it is segmented into

• Spectroscopy


• Terahertz Radar


• Terahertz Sensing

By Application, it is segmented into

• Industrial Process Monitoring


• Research Laboratory Application


• Medical Imaging


• Non-Destructive Testing


• Others

Terahertz Components and Systems Market Regional Analysis

The North American region accounted for more than 45 % of the global terahertz components and systems market. The increased use of terahertz components and systems in medical science and biology, as well as concerns about process control in order to avoid hazardous situations, are driving the market growth. The increased use of terahertz components and systems in North America is due to the growing popularity and acceptance of process control in a variety of industries to avoid risks. However, advances in terahertz technology and their increasing application for chemical and material characterization are driving up demand for terahertz components and systems in the Asia Pacific.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Terahertz Components and Systems Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type, and segment. It focuses extensively on revealing a detailed regional analysis. The Global Terahertz Components and Systems Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Terahertz Components and Systems Market report scope?

Scope of the Report covers the Terahertz Components and Systems Market with a detailed analysis of the overall scenario for the market. It also highlights the business participants’ environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background, and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this Terahertz Components and Systems Market analysis report as it has vital details to provide about regional markets and expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how the worldwide market is working through efficient information graphics.

Key Takeaways from this Terahertz Components and Systems Report

• Evaluate Terahertz Components and Systems market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at the country level - for product types, end-use applications, and different industries verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges, and hidden opportunities.


• Get in-depth insights on your competitor’s performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis, and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies to your processes.


• Get a quick outlook on the Terahertz Components and Systems market entropy – M&As, deals, partnerships, and product launches of all key players for the past 5 years.


• Evaluate the import-export statistics, supply-demand, and competitive landscape for more than the top 20 countries globally for the market.

Frequently Asked Questions

What is the study period of this market?

The Terahertz Components and Systems Market is studied from 2017 - 2027.

What is the growth rate of the Terahertz Components and Systems Market?

The Terahertz Components and Systems Market is growing at a CAGR of 27.8% over the next 5 years.

Who are the key players in Terahertz Components and Systems Market?

EMCORE Corporation, Menlo Systems, Digital Barriers, NEC Corporation, Bridge12 Technologies, Microtech Instruments, M Squared Lasers, Digital Barriers, Bruker Corporation, Applied Research & Photonics

What regions does this Terahertz Components and Systems Market report cover?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

What are the significant types of Terahertz Components and Systems Market?

Spectroscopy, Terahertz Radar, Terahertz Sensing

What are the major end-use applications of Terahertz Components and Systems Market?

Industrial Process Monitoring, Research Laboratory Application, Medical Imaging, Non-Destructive Testing, Others

All our reports are custom-made to your company’s needs to a certain extent, we do provide 5 free consulting hours along with the purchase of each report, and this will allow you to request any additional data to customize the report to your needs.