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Published Date: 2016-02-10Number of Pages: 118

Terahertz Components and Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023

The global market for terahertz components and systems have reported significant growth in the recent past. Analysts at TMR suggest for a similar future. In 2014, the opportunity in terahertz components and systems, globally, reached US$56 mn. Rising at an exponential CAGR of 25.90% during the period from 2015 to 2023, it is likely to worth US$415 mn by the end of 2023.

The growing application of terahertz technology in a number of industries for quality check and process control monitoring is expected to enable terahertz components and systems to register a remarkable rise in the coming years. Moreover, the increasing usage of this technology in laboratories will also fuel the demand for terahertz components across the world at a steady rate.

Terahertz Components and Systems to Find Prominent Opportunity in Industrial Process Monitoring

Research laboratories, non-destructive testing, industrial process control, and medical imaging are the prime application areas of terahertz components and systems. In 2014, the most of these components and systems were utilized in non-destructive testing, trailed by research laboratories.

The opportunity for these components and systems in non-destructive testing was US$18.9 mn while in research laboratories, it stood at US$15 mn that year. However, by the end of 2023, terahertz components and systems will find most prominent opportunity in industrial process monitoring segment, which is projected to reach US$119.1 mn by that time.

In non-destructive testing, terahertz technology is applied for the detection of abnormalities and damages from heat, mechanical impact delamination and disband, hydraulic fluid ingression, and foreign material inclusions. Material inspection and testing coating for process improvement are the key application areas of this technology in the industrial process monitoring segment.

 

global-terahertz-components-and-systems-market

 

Asia pacific to Provide Most Promising Opportunities in Terahertz Components and Systems

The global market for terahertz components and systems spreads across Asia Pacific, North America, Europe, Asia Pacific, and the Rest of the World. North America, among these, has emerged as the key contributors to the overall revenue generated in this market with a share of more than 45%. The growing adoption of process control in various industries to evade hazardous situations has fueled the usage of terahertz components and systems in North America.

Analysts project this region to remain the leading consumer of these components and systems in the coming years. However, Asia Pacific has begun to surface as a promising regional terahertz components and systems market. Advancements in terahertz technology and their increasing application for the characterization of chemicals and materials are boosting the demand for these components and systems in this region. By 2023, the opportunity in these components and systems in Asia Pacific is estimated to reach US$96.2 mn.

The leading manufacturers of terahertz components and systems across the world are Advantest Corp, M Squared Lasers Ltd., NEC Corp, Bridge12 Technologies Inc., Applied Research & Photonics Inc., Bruker Corp, Menlo Systems GmbH, Microtech Instruments Inc., Digital Barriers PLC, TeraView, EMCORE Corp, and Techcomp Group Ltd.

Chapter 1 Preface
1.1 Report Description
1.2 Market Scope
1.3 Key Take Away
1.4 Research Methodology

Chapter 2 Executive Summary
2.1 Global Terahertz Components and Systems Market Snapshot

Chapter 3 Global Terahertz Components and Systems Market Overview
3.1 Introduction
3.1.1 Nature of global terahertz components and systems market
3.2 Competitive strategies adopted by major players
3.3 Market attractiveness analysis, by type
3.4 Market attractiveness analysis, by application
3.5 Market attractiveness analysis, by end use
3.6 Key market players
3.7 Patent Analysis

Chapter 4 Global Terahertz Components and Systems Market Revenue , By Components (USD million), 2014 – 2023 
4.1 Global Terahertz Components and Systems Market Revenue, By Components, Overview
        4.1.1 Market Share, 2014 Vs 2023(%)
4.2 Market Dynamics
        4.2.1 Market Drivers
        4.2.2 Market Restraints
        4.2.3 Market Opportunities
4.3 Terahertz sources segment, 2014-2023: Revenue forecast
4.4 Terahertz detectors segment, 2014-2023: Revenue forecast
4.5 Others segment, 2014-2023: Revenue forecast

Chapter 5 Global Terahertz Components and Systems Market Revenue By Systems (USD million)
5.1 Global Terahertz Components and Systems Market Revenue, By Systems, Overview
        5.1.1 Market Share, 2014 Vs 2023(%)
5.2 Market Dynamics
        5.2.1 Market Drivers
        5.2.2 Market Restraints
        5.2.3 Market Opportunities
5.3 Systems based on spectroscopy segment, 2014-2023: Revenue forecast
5.4 Terahertz radar segment, 2014-2023: Revenue forecast
5.5 Terahertz sensing segment, 2014-2023: Revenue forecast

Chapter 6 Global Terahertz Components and Systems Market Revenue , By Application (USD million)
6.1 Global Terahertz Components and Systems Market Revenue, By Application, Overview
        6.1.1 Market Share, 2014 Vs 2023(%)
6.2 Market Dynamics
        6.2.1 Market Drivers
        6.2.2 Market Restraints
        6.2.3 Market Opportunities 
6.3 Industrial process monitoring segment, 2014-2023: Revenue forecast
6.4 Research laboratory application segment, 2014-2023: Revenue forecast
6.5 Medical imaging segment, 2014-2023: Revenue forecast
6.6 Non destructive testing segment, 2014-2023: Revenue forecast 
6.7 Others segment, 2014-2023: Revenue forecastt

Chapter 7 Global Terahertz Components and Systems Market Revenue, By Region (USD million)
7.1 Global Terahertz Components and Systems Market Revenue, By Region, Overview
        7.1.1 By Region: Revenue Share, 2014 Vs 2023(%) 
7.2 North America Terahertz components and systems market , 2014-2023: Revenue forecast 
        7.2.1 North America Terahertz Components and Systems market, 2014-2023: Revenue forecast, by Components
        7.2.2 North America Terahertz Components and Systems market, 2014-2023: Revenue forecast, by Systems
        7.2.2 North America Terahertz Components and Systems market, 2014-2023: Revenue forecast, by Application 
7.3 Europe Terahertz components and systems market , 2014-2023: Revenue forecast 
        7.3.1 Europe Terahertz Components and Systems market, 2014-2023: Revenue forecast, byComponents
        7.3.2 Europe Terahertz Components and Systems market, 2014-2023: Revenue forecast, by Systems
        7.3.3 Europe Terahertz Components and Systems market, 2014-2023: Revenue forecast, by Application
7.4 Asia Pacific Terahertz components and systems market , 2014-2023: Revenue forecast 
        7.4.1 Asia Pacific Terahertz Components and Systems market, 2014-2023: Revenue forecast, by Components
        7.4.2 Asia Pacific Terahertz Components and Systems market, 2014-2023: Revenue forecast, by Systems
        7.4.3 Asia Pacific Terahertz Components and Systems market, 2014-2023: Revenue forecast, by Application
7.5 Rest of the World Terahertz components and systems market , 2014-2023: Revenue forecast 
        7.5.1 Rest of the World Terahertz Components and Systems market, 2014-2023: Revenue forecast, by Components
        7.5.2 Rest of the World Terahertz Components and Systems market, 2014-2023: Revenue forecast, by Systems
        7.5.3 Rest of the World Terahertz Components and Systems market, 2014-2023: Revenue forecast, by Application

Chapter 8 Company Profiles
8.1 Bruker Corporation
8.2 NEC Corporation 
8.3 Menlo Systems GmbH
8.4 Microtech Instruments Inc.
8.5 Techcomp Group Ltd. 
8.6 EMCORE Corporation
8.7 TeraView
8.8 M Squared Lasers Ltd. 
8.9 Applied Research & Photonics Inc.
8.10 Bridge12 Technologies, Inc.
8.11 Advantest Corporation
8.12 Digital Barriers PLC

List of Figures 

FIG. 1 Market Segmentation of Terahertz Components and Systems Market
FIG. 2 Global Teerahertz Components and Systems Market Segmentation, by Components, Systems, Application 
FIG. 3 Market Attractiveness Analysis, By Components
FIG. 4 Market Attractiveness Analysis, By Systems
FIG. 5 Market Attractiveness Analysis, By Applications
FIG. 6 Terahertz components and systems market patent filings and publications
FIG. 7 Global Terahertz Components and Systems Market, By Components, Size, and Forecast, 2014 Vs 2023 (Value %)
FIG. 8 Terahertz sources segment, 2014-2023: Revenue forecast , 2014-2023 (In USD million)
FIG. 9 Terahertz detetcors segment, 2014-2023: Revenue forecast , 2014-2023 (In USD million)
FIG. 10 Others segment, 2014-2023: Revenue forecast , 2014-2023 (In USD million)
FIG. 11 Global Terahertz Components and Systems Market, By Systems, Size, and Forecast, 2014 Vs 2023 (Value %)
FIG. 12 System based on Spectroscopy segment, 2014-2023: Revenue forecast, 2014-2023 (In USD million)
FIG. 13 Time-Domain Spectroscopy segment, 2014-2023: Revenue forecast , 2014-2023 (In USD million)
FIG. 14 Frequency-Domain Spectroscopy segment, 2014-2023: Revenue forecast , 2014-2023 (In USD million)
FIG. 15 Imaging by scanning segment, 2014-2023: Revenue forecast , 2014-2023 (In USD million)
FIG. 16 Terahertz radar segment, 2014-2023: Revenue forecast , 2014-2023 (In USD million)
FIG. 17 Terahertz sensing segment, 2014-2023: Revenue forecast , 2014-2023 (In USD million)
FIG. 18 Global Terahertz Components and Systems Market, By Application, Size, and Forecast, 2014 Vs 2023 (Value %)
FIG. 19 Industrial process monitoring segment, 2014-2023: Revenue forecast, 2014-2023 (In USD million)
FIG. 20 Research laboratory application segment, 2014-2023: Revenue forecast , 2014-2023 (In USD million)
FIG. 21 Medical imaging segment, 2014-2023: Revenue forecast , 2014-2023 (In USD million)
FIG. 22 Non destructive testing segment, 2014-2023: Revenue forecast , 2014-2023 (In USD million)
FIG. 23 Otherssegment, 2014-2023: Revenue forecast , 2014-2023 (In USD million)
FIG. 24 Global Terahertz Components and Systems Market, By Region, Size, and Forecast, 2014 Vs 2023 (Value %)
FIG. 25 North America Terahertz Components and Systems Market Revenue, 2014 – 2023 (USD million)
FIG. 26 Europe Terahertz Components and Systems Market Revenue, 2014 – 2023 (USD million)
FIG. 27 Asia Pacific Terahertz Components and Systems Market Revenue, 2014 – 2023 (USD million)
FIG. 28 RoW Terahertz Components and Systems Market Revenue, 2014 – 2023 (USD million)

List of Tables

TABLE 1 Global Terahertz Components and Systems Market Snapshot
TABLE 2 Key Players of Terahertz Components and Systems Market
TABLE 3 North America Terahertz Components and Systems Market, 2014-2023: Revenue forecast, by Components
TABLE 4 North America Terahertz Components and Systems Market, 2014-2023: Revenue forecast, by Systems
TABLE 5 North America Terahertz Components and Systems Market, 2014-2023: Revenue forecast, by Application
TABLE 6 Europe Terahertz Components and Systems Market, 2014-2023: Revenue forecast, by Components
TABLE 7 Europe Terahertz Components and Systems Market, 2014-2023: Revenue forecast, by Systems
TABLE 8 Europe Terahertz Components and Systems Market, 2014-2023: Revenue forecast, by Application
TABLE 9 Asia Pacific Terahertz Components and Systems Market, 2014-2023: Revenue forecast, by Components
TABLE 10 Asia Pacific Terahertz Components and Systems Market, 2014-2023: Revenue forecast, by Systems
TABLE 11 Asia Pacific Terahertz Components and Systems Market, 2014-2023: Revenue forecast, by Application
TABLE 12 Rest of the World Terahertz Components and Systems Market, 2014-2023: Revenue forecast, by Components
TABLE 13 Rest of the World Terahertz Components and Systems Market, 2014-2023: Revenue forecast, by Systems
TABLE 14Rest of the World Terahertz Components and Systems Market, 2014-2023: Revenue forecast, by Application

Terahertz technology refers to the electromagnetic waves with frequencies range between 100 GHz and 10 THz. Two key advantages of terahertz technology include high chemical selectivity along with the penetration of typically opaque materials. In initial phase, researches on terahertz technologies were primarily being conducted by researchers to explore laboratory applications. In recent years, Growing application of terahertz radiation for detection of impurities in the pharmaceuticals industry and security screening among others is fueling the market for terahertz components and systems globally.

Increasing application of terahertz science and technology across different industry verticals primarily for process control monitoring and quality check are some of the factors boosting the demand for terahertz components and systems globally. Furthermore, growing application of high end terahertz devices in research laboratory applications is one of the key contributing factors in directing the positive growth of the market. Advances in terahertz science and technology along with growing usage of terahertz components for medical imaging and non destructive testing are expected to fuel the growth of terahertz components and systems market over the forecast period. As of 2015, low industrial application scope due to limited penetration of terahertz radiation is one of the challenges that may restrain the growth of terahertz components and systems market at global level. The available terahertz devices are big, bulky and expensive and this might limit the commercial applications of terahertz components and systems.

Increasing application of terahertz technology in biology and medical science is one of the factors fueling the market for terahertz components and systems. Moreover, material inspections along with testing coating for the process improvement are some of major application area of terahertz technology in industrial process monitoring segment. Growing penetration for terahertz technology in different industries such as pharmaceutical, industrial and non destructive testing is driving the growth of terahertz components and systems market across different regions which include North America, Europe, Asia Pacific, and Rest of the World (RoW).

Based on components, the market for terahertz components and systems is segmented into terahertz sources, terahertz detectors among others. In terms of systems, the market is segmented into systems based on spectroscopy, terahertz radar and terahertz sensing. Furthermore, systems based on spectroscopy is segmented into time-domain spectroscopy, frequency-domain spectroscopy and imaging by scanning. Moreover, by application, the market is segmented into industrial process control, research laboratory applications, medical imaging and non destructive testing among others.

Geographically, the terahertz components and systems market is categorized into North America, Europe, Asia Pacific and Rest of the World (RoW). The scope of the report offers an insight into terahertz components and systems market in these regions based on revenue (USD million).

The report also includes competitive profiling of leading players in the industry and their market position to aid in strategic decision making. The market attractiveness analysis and patent analysis included in the report provide insight into market dynamics, future research scope, industry competition and strategies adopted by market leaders.

The report also breaks down and reviews the various factors impacting the market growth, which can be appropriately described as market drivers, restraints, and opportunities. These factors help to determine the various existing trends and their impact on the market growth. Overall, taking into consideration the various factors affecting the terahertz components and systems market, the report includes a holistic analysis of the global terahertz components and systems market, and provides an estimate of growth for the period 2015 to 2023.

Some of the major players operating in the terahertz components and systems market are Advantest Corporation (Japan), Digital Barriers PLC (U.K.), Applied Research & Photonics Inc. (U.S.), EMCORE Corporation (U.S.), Teraview (U.K.), Bruker Corporation (U.S.), M Squared Lasers Ltd (U.K.), NEC Corporation (Japan), Menlo Systems GmbH (Germany), Techcomp Group Ltd. (Hong Kong), Bridge12 Technologies, Inc. (U.S.) and Microtech Instruments Inc. (U.S.) among others.