New York, Dec. 15, 2022 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Terahertz Technology Market Size, Share, Growth, Trends Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component (Terahertz Sources, Terahertz Detectors), Type (Terahertz Imaging Systems, Terahertz Spectroscopy Systems, and Terahertz Communication System), and Application (Medical and Healthcare, Defense and Security, Food and Agriculture, Industrial, Semiconductor, Others), and Geography”, the global terahertz technology market demand is influenced by processing applications of terahertz technology in the food industry and use of terahertz technology for satellite communication. APAC is anticipated to register an impressive CAGR of 29.7% in the terahertz technology market during 2021–2028.
Get Sample Pages of Terahertz Technology Market Size - COVID-19 Impact and Global Analysis with Strategic Insights at: https://www.theinsightpartners.com/sample/TIPTE100001364
Global Terahertz Technology Market - Report Scope:
| Growth rate | CAGR of 28.3% from 2021 to 2028 |
| Market Size Value by | USD 1.84 billion by 2028 |
| Market Size Value in | USD 0.32 billion in 2021 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 163 |
| No. of Tables | 83 |
| No. of Charts & Figures | 84 |
| Historical data available | Yes |
| Segments covered | Component; Type; and Application |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Terahertz Technology Market - Product Initiatives:
Apr 2020: TeraSense announced its new powerful 0.8W and 1.8W waves sources at 94GHz, which is a IMPATT-based generator with its output power between .08 W to 1.8 W
Mar 2020: Toptica announced the enhancement in performance of TeraFETs, with the help of TeraScan, the next-generation terahertz detectors.
Inquiry Before Purchase: https://www.theinsightpartners.com/inquiry/TIPTE100001364
COVID-19 Impact on Global Terahertz Technology Market Growth:
The emergence and rapid spread of COVID-19 has paralyzed both developed and developing countries. A continuous surge in the count of infected patients is threatening several industries across the world. Since the majority of countries are imposing lockdown measures, whenever required, the temporary shutdown of manufacturing facilities is resulting in a negative trend in the terahertz technology market. Key market players are restricting their investments on high-tech solutions and are rather utilizing a fair percentage of their budget for combating the impact of COVID-19 on their businesses. The semiconductor and automotive industries are among major victims of the pandemic. The food and agriculture industries requires a significant number of human labors; however, these industries couldn’t work to their optimum as this disease spreads through public gatherings. The negative trend in these industries restrained the terahertz technology market growth in 2020.
Key Findings of Study:
The global terahertz technology market is segmented into five major regions—North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Based on component, the terahertz technology market is bifurcated into terahertz sources and terahertz detectors. The terahertz detectors segment held a larger market share in 2020. Based on type, the market is segmented into terahertz imaging systems, terahertz spectroscopy systems, and terahertz communication system. Based on application, the market is segmented into medical and healthcare, defense and security, food and agriculture, industrial, semiconductor, and others.
Speak to Research Expert: https://www.theinsightpartners.com/speak-to-analyst/TIPTE100001364
Application of Terahertz Technology in Food Processing Industry Drives Market Growth:
The use of ionizing radiation (X-rays) is critical for quality control and nondestructive testing because of its detrimental effect on biological agents. Thus, the terahertz imaging technology is proving beneficial in the food industry. Instead of using X-ray machines, food manufacturers and packagers can use terahertz food scanners in various areas, such as checking whether a pick-and-place robotic arm has placed all candy bars inside the carton. The terahertz imagers can see through cardboard or PE packaging—chocolate bars could be wrapped in any material, even in metal foil that is impervious to the terahertz rays. Thus, such materials create even better contrast in the terahertz images. Also, insects and other foreign objects found in food are a severe cause of concern to consumers, food producers, and retailers. Unwrapping a chocolate bar could reveal an unpleasant surprise, like an insect, metal or glass pieces, or dirt clots. This can not only kill the appetite of the consumer but also harm them physically via a broken tooth or poisoning. Moreover, in some countries, producers or retailers may end up being sued, potentially leading to fines and lawsuits worth millions of dollars. Several tests have specifically been designed for the food industry to detect the presence of foreign objects (e.g., insects, pieces of plastics, metal, stones, or soil) in the food products. For example, TeraSense Group's terahertz imaging systems can easily detect a common housefly in multiple polyethylene bags, even if the total thickness of such PET coating exceeds 20 mm. Also, TeraSense imaging systems reveal carcinogenic mycotoxin fungus contaminating peanuts, corn, hazelnuts, and other grain crops and oil plants. Further, terahertz imagers also allow industrial customers to detect any signs of infections such as Aspergillus flavus and A. parasiticus, which exude carcinogenic Aflatoxin B1. Thus, the use of terahertz technology in the food industry is a significant opportunity for the growth of the terahertz technology market players during the forecast period.
Quickly Purchase Premium Copy of Terahertz Technology Market Growth Report (2021-2028) at: https://www.theinsightpartners.com/buy/TIPTE100001364
Advantest Corporation, Luna Innovations Inc., Menlo Systems GmbH, Terasense Group Inc., and Toptica Photonics AG are some of the key market players operating in the global terahertz technology market. The listing of key players is derived by considering multiple factors such as overall revenue, current terahertz technology product portfolio, geographical reach, new product launches, market initiatives, investment in technology upgradation, partnerships, and other market related activities. In addition to these players, there are several other important players operating in the terahertz technology ecosystems which were studies analyzed during the course of this market research study.
Browse Related Reports:
Medical Terahertz Technology Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Terahertz Imaging and Terahertz Spectroscopy) and Application (Oncology, Dentistry, Dermatology, Tomography, Biochemistry, and Others)
Terahertz Imaging Detection Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Passive Terahertz Imaging, Active Terahertz Imaging); Application (Transportation and Public Safety, Industrial, Medicine and Biomedicine, Others) and Geography
Photonics Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Type (LED, Lasers Detectors Sensors and Imaging Devices, Optical Communication Systems and Components, Consumer Electronics and Devices, Others); Application (Display, Information and Communication Technology, Photovoltaic, Medical Technology and Life Sciences, Measurement and Automated Vision, Lighting, Production Technology, Others); End User Industry (Building and Construction, Media Broadcasting and Telecommunication, Consumer and Business Automation, Medical, Security and Defense, Industrial, Others) and Geography
Infrared and Terahertz Spectroscopy Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Spectrum (Near-Infrared Radiation (NIR), Mid-Infrared Radiation (MIR), and Far-Infrared Radiation (FIR)); Usability (Semiconductors, Homeland Security, Non-Destructive Testing, and Research and Development (Biomedical)); Technology (Benchtop, Microscopy, Portable and Handheld, and Hyphenated); End Use (Pharmaceuticals and Biotechnology, Industrial Chemistry, Food and Beverage Testing, Environmental Testing, and Other), and Geography
3D Avatar Solution Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution and Services), Model (Stylized, Realistic, and Futuristic), and End User (Media and Entertainment, Healthcare, Fashion, and Others)
Collision Avoidance and Object Detection Maritime Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (LiDAR, Computer Vision, Radar, and Others), Application (Blind Spot Detection, Night Vision, and Others), and End User (Unmanned Surface Vehicle, Ships, and Autonomous Underwater Vehicle)
Semiconductor Bonding Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Die Bonder, Wafer Bonder, and Flip Chip Bonder) and Technology (RF Devices, MEMS and Sensors, LED, CMOS Image Sensors, and 3D NAND)
Smart Bike Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Connectivity (Bluetooth and Wi-Fi), Handle Type (Fixed Handle Type and Moving Handle Type), and Application (Residential and Commercial)
Battery Cyclers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Channel Type (16, 8, and 4), Battery Type [Lead Acid, Nickel Cadmium (NiCd) Batteries, Nickel-Metal (NiMh) Batteries, and Lithium-Ion (Li-Ion) Batteries], and End User (Aerospace, Energy & Power, Automotive, Consumer Electronics, and Others.
Communications Interface Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (1-Port, 2-Port, and Others), Mode of Communication [Wired (Ethernet, USB, RS-232/RS-485, and Others) and Wireless & Hybrid], and Application (Industrial Monitoring, Battery Monitoring System, Remote Sensors Communication, Railway Signaling System, Machine to Machine Communication, and Others)
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/terahertz-technology-industry
