Terahertz Technology Market Size Worth $1,790 Million By 2030 | CAGR: 14.6%

The global terahertz technology market size is expected to reach USD 1,790 million by 2030, according to a new study by Polaris Market Research. The report “Terahertz Technology Market Share, Size, Trends, Industry Analysis Report, By Type (Terahertz Imaging, Terahertz Spectroscopy, and Terahertz Communication Systems); By Application; By Component; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

A surge in the adoption of terahertz (THz) systems in the research activities of laboratories and increasing significance of terahertz technology in satellite computing and food processing industry, coupled with growing usage of cameras, scanners, and other devices based on this technology in medical, homeland security, and aerospace industry are significant factors projected to drive the growth of the global market over the course of projected period.

Moreover, growing concerns regarding security systems across several industries have resulted in a dire need for technology-driven solutions coupled with the growing requirements for high-speed data transfer facilities across the globe, which is likely to propel the industry growth significantly over the coming years.

For instance, in September 2022, LG Electronics successfully tested 6G THz technology in Germany- at a frequency range of 155 to 175 GHz with a distance of up to 320 meters outdoors. The company said it is a significant step towards commercializing 6G THz in urban areas.

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The number of applications of THz systems in the healthcare industry is significantly increasing, such as spectroscopy, biomedical imaging, and detection of various chronic and related diseases, fueling the adoption of the technology in the sector. Additionally, the capabilities of terahertz radiations of visualizing the contents of sealed packages and providing a detailed and clear analysis of the internal structure of objects with the development of advanced applications around the world are likely to have a positive impact on the demand of the global market.

Terahertz Technology Market Report Highlights

• Terahertz imaging segment accounted for the highest global share due to wide utilization of this system in several applications, including biomedical, security, and aerospace.
• Medical & healthcare segment held a significant revue share in 2021 owing to a rapid increase in adoption in this sector because of its ability to provide high-quality imaging results that help better diagnose chronic disorders.
• North America is projected to emerge as the fastest-growing region over the anticipated period because of heavy investment in the defense sector, increasing R&D activities, and several stringent regulations.
• The global players include QMC instruments, Advantest Corporation, HUBNER GmbH, and TeraVil.

Polaris Market Research has segmented the terahertz technology market report based on type, application, component, and region:

Terahertz Technology, Type Outlook (Revenue - USD Million, 2018 - 2030)

• Terahertz Imaging
• Terahertz Spectroscopy
• Terahertz Communication Systems

Terahertz Technology, Application Outlook (Revenue - USD Million, 2018 - 2030)

• Medical & Healthcare
• Defense & Security
• Industrial
• Semiconductor
• Others

Terahertz Technology, Component Outlook (Revenue - USD Million, 2018 - 2030)

• Terahertz Sources
• Terahertz Detectors

Terahertz Technology, Regional Outlook (Revenue - USD Million, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa