Global Terahertz Technologies Market to reach USD1.9 billion by 2027Global Terahertz Technologies Market is valued at approximately USD 0.28 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 31.2 % over the forecast period 2021-2027. Terahertz technology is a new and rapidly evolving subject that has the potential to generate applications ranging from airport passenger scanning to huge digital data transfers, and it has reflected tremendous scientific progress. Terahertz (THz) radiation has three distinct qualities that encourage the growth of the entire terahertz sector. The ability to do full or partial body scanning and other associated security screening without any radiation on key parts is one of the major drivers driving the use of terahertz technology in the security business. The technology is seeing a lot of use in airport screening, and it is helping to enhance throughput while delivering high-quality detection results. According to the Canadian Air Transport Security Authority (CATSA), the number of passengers screened each hour at Canadian Airport climbed to 217 in 2020 from 159 in 2016. Moreover, in 2020, a team of researchers from MIT and the University of Waterloo developed a high-power, portable version of a quantum cascade laser that can generate terahertz radiation outside of a laboratory setting and could be used in applications such as detecting hidden explosives and pinpointing skin cancer. NASA and the Natural Sciences and Engineering Research Council of Canada financed this study. The technique could be used in a variety of industries where it is important to detect foreign items within a product in order to ensure its safety and quality. However, lack of awareness of the technology in the market may impede market growth over the forecast period of 2021-2027.

The regional analysis of the global Terahertz Technologies Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World (ROW). North America is the leading region across the world in terms of market share due to rising homeland security issues, investments in defense, and increasing R&D in the region. Whereas North America is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027 increasing due to number of manufacturing companies in several developing countries, such as China, India, and Japan, in the region.

Major market player included in this report are:

Luna Innovations
Teravil
TeraView Limited
TOPTICA Photonics AG
H??BNER GmbH & Co. KG
Advantest Corporation
Batop GmbH
Terasense Group Inc.
Microtech Instrument Inc.
Menlo Systems GmbH
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Terahertz imaging
Terahertz spectroscopy
Terahertz communication systems
By Technology:
Terahertz sources
Terahertz detectors
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018,2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Terahertz Technologies Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors