February 13, 2025

Growing Security Applications to Augment Demand for Terahertz Components and Systems Market

The global Terahertz Components and Systems Market is estimated to be valued at US$ 421.5 Mn or in 2023 and is expected to exhibit a CAGR of 27% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Terahertz components and systems are used for high-tech security and biomedical applications. Terahertz radiation occupies the frequency spectrum between microwaves and infrared in the electromagnetic spectrum. Terahertz radiation can penetrate and detect objects hidden under clothing, paper, cardboard, wood, masonry, plastic and ceramics. This gives terahertz technology an advantage over other screening technologies like x-rays, which cannot screen under layers of common materials. Terahertz waves have potential applications in chemical detection, NDE, personalized medicine, communications and more. Major products in the market include sources and detectors, imaging systems, spectrometers, communication systems and others.

Market key trends:
One key trend in the terahertz components and systems market is increasing adoption for security screening. Terahertz imaging enables detection of concealed metal and non-metal objects hidden under paper, cardboard, clothes, shoes, casts and other substances. It is widely being adopted for airport baggage screening and for screening of freight, mail and packages. Another trend is increasing funding and investments in terahertz technology research. Government agencies and private companies are investing heavily to commercialize terahertz applications across diverse sectors like healthcare, communications, defense and security. Technological advancements improving efficiencies, components and costs are also driving the adoption of terahertz technology.
Porter’s Analysis

Threat of new entrants: The terahertz components and systems market has moderate threat of new entrants due to the presence of existing well established players and high cost of production.

Bargaining power of buyers: Buyers have low bargaining power in this market due to limited options available.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative suppliers and differentiated components.

Threat of new substitutes: Threat of substitutes is low as terahertz components and systems offer unique applications that cannot be replicated.

Competitive rivalry: The market has high competitive rivalry due to presence of major players differentiating products on performance.

Key Takeaways

The global terahertz components and systems market is expected to witness high growth, exhibiting CAGR of 27.% over the forecast period, due to increasing demand for terahertz spectroscopy in defense, healthcare and chemical sectors. Regional analysis

North America dominated the terahertz components and systems market in 2023, owing to heavy investments in R&D activities by key players and government initiatives for development of advanced technologies in the region.

Key players

Key players operating in the terahertz components and systems market are Bruker, EMCORE Corporation, TeraSense Group, Applied Research & Photonics, Inc., Bridge12 Technologies, Inc., M Squared Lasers Limited, Virginia Diodes, Menlo Systems GmbH, TeraView Limited. _______________________________________________________________________

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.

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