Terahertz Technology Market To Hit $2,272.7 Million Value by 2030, says P&S Intelligence

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Jun 30, 2022, 08:40 ET

NEW YORK, June 30, 2022 /PRNewswire/ -- According to the latest study published by P&S Intelligence, the global terahertz technology market accounted for $450.5 million in 2021, which is predicted to touch $2,272.7 million by 2030, advancing at a 19.7% CAGR over this decade. The THz technology has seen considerable advancements and applications in high-tech devices in recent years. Electromagnetic radiation in the THz frequency range have a variety of applications from security checks to cancer diagnostics, as they can quickly penetrate a variety of materials, including biological tissue.

THz imaging has been used more often in healthcare systems as a result of the COVID-19 epidemic. One of the most-notable users of the technology is U.S. Customs and Border Protection, which uses it to safeguard the U.S. border. Additionally, experts have created a method that uses label-free THz metamaterials to quickly and correctly distinguish between COVID-19 variations using THz waves.

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The market is witnessing a variety of technical developments as scientists and researchers from across the world discover new applications for THz radiation. For instance, a credit-card-sized device that shoots THz energy to generate high-resolution images is one of the advances that research institutions are investing in utilizing THz technology.

Similarly, THz radiation is increasingly being used in military applications. For aiming at targets on the ground, the majority of 4^th- and 5^th-generation aircraft combine SAR imagery with EO/IR pod video feeds. Thus, the expansion of the terahertz technology market has been significantly influenced by the increasing applications of this technology in the defense and security sector since most of the fighter aircraft in use presently are 4^th- and 5^th-generation variants.

A high-speed network that can transfer a massive quantity of data quickly from one end to the other is the foundation for the growth of the communication networking infrastructure. High-bandwidth-focused networking is crucial for the creation of the 5G infrastructure. The THz technology is, therefore, being studied for high-speed networks, for developing advanced 6G communication infrastructure.

Browse detailed report on Global Terahertz Technology Market Analysis, Growth and Demand Forecast Report 2030

The U.S. terahertz technology market is projected to progress at a CAGR of about 20% between 2021 and 2030. This is because of the rising spending on R&D, homeland security, and military, as well as the existence of key market participants. Additionally, the country's market is being driven by the government's strict safety rules, increasing frequency and stringency of security checks, and growing automobile and aerospace industries.

Governments' clear steps for non-destructive and security testing demonstrate the surging use of investigative and security technologies. Thus, the terahertz technology market expansion is aided by government efforts and expanding advances in the healthcare and IT sectors for its applications.

Global Terahertz Technology Market Report Coverage

By Type

Imaging

Active
Passive

Communication Systems

Antennae
Emitters
Modulators

Spectroscopy

By Component

Emitters
Detectors

By Application

Laboratory Research

Material characterization
Plasma diagnostics

Medical & Healthcare

Oncology
Dentistry
Dermatology

Communication Systems

Satellite communication
Tactical/military communication
Outdoor/indoor wireless
Telecommunications

Industrial Non-Destructive Testing (NDT)

Aerospace
Semiconductor & electronics
Pharmaceutical

Defense & Security

Regional Outlook

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain

APAC

Japan
China
India
South Korea

LAMEA

Brazil
Mexico
Saudi Arabia
South Africa
U.A.E

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P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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SOURCE P&S Intelligence