Techno World Terahertz-Components-and-Systems-Market | Page 2

The growth in the revenue of the global terahertz components and systems market is also
attributable to growing concerns over homeland security. Terahertz technology is used for
security scanning in airports and railway stations. Increasing application of terahertz
technologies in research laboratory instruments is also one of the prime factor which is fueling
the market growth for terahertz components and systems.
Global terahertz components and systems market is expected to witness growth due to various
research and development activities and extensive application of terahertz technology in medical
sector and advanced communication systems. Utilization of terahertz components and systems
in solar industry and homeland security are expected to positively impact growth of the market.
Furthermore, applications in archeological and historical studies are expected to drive growth of
the global terahertz components and systems market over the forecast period. Nondestructive
evaluation method, used for the dielectric materials inspection, uses terahertz technology. This
method is also used for quality control in the security, biomedical, pharmaceutical, aerospace,
and materials characterization industries. Such technological advancement in the industrial
process management is propelling growth of the market worldwide. Moreover, active imaging
methods used for detecting skin cancer, also contributes to growth of the market. However, the
high cost of terahertz devices is a major factor restraining growth of market. Developing flexible
and cost effective terahertz systems are some of the prime opportunities for the market players.
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Key takeaways of the Terahertz Components and Systems Market:
The global terahertz components and systems market is estimated to increase at a CAGR of
27.9% over the forecast period (2017–2025) as there exists a huge demanding market especially
in North America and Europe.
The Terahertz Sources dominates the market in the components segment and in terms of
systems segment, the Systems based on Spectroscopy is leading the market.
Nondestructive Testing is the major application area of terahertz components and systems
market, as terahertz radiation primarily characterizes micro-structure variation in dielectric
materials without causing any damage.
Some of the major players involved in global terahertz components and systems market are
Advantest Corporation, Applied Research & Photonics Inc., Digital Barriers PLC, EMCORE
Corporation, Bruker Corporation, Teraview, M Squared Lasers Ltd, NEC Corporation, Menlo
Systems GmbH, Techcomp Group Ltd., Bridge12 Technologies, Inc. and Microtech Instruments
Inc.