The terahertz technology market is projected to grow from USD 0.6 billion in 2022 to USD 1.2 billion by 2027, at a CAGR of 14.7% from 2022 to 2027. The growth of terahertz technology market is attributed the stringent government regulations for public safety and homeland security, the rise in demand for terahertz technology in the medical sector, and the adoption of terahertz systems in the semiconductor industry.
ADVANTEST CORPORATION (Japan); Luna Innovations (US); TeraView Limited. (UK); TOPTICA Photonics AG (Germany); HÜBNER GmbH & Co. KG (Germany); Menlo Systems (Germany); Terasense Group Inc. (US); Gentec Electro-Optics (Canada); QMC Instruments Ltd. (UK); TeraVil Ltd (Lithuania); are some of the key players in the terahertz technology market. To retain their presence in the terahertz technology market, these players have adopted various growth strategies, such as product launches, partnerships, expansions, investments, and acquisitions. Product launches has been the most dominating strategy adopted by the key players from 2018 to 2022 to help them strengthen their product portfolio and broaden their customer base.
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ADVANTEST CORPORATION is a leading producer of automatic test equipment (ATE) for the semiconductor industry and a premier manufacturer of measuring instruments used to design and produce electronic instruments and systems. Its operating segments include Semiconductor & Component Test Systems, Mechatronics, and Services, Support and Others. Through the Semiconductor & Component Test Systems and Mechatronics segments, the company develops products that utilize technologies such as terahertz wave measurement. The terahertz systems offered by the company include terahertz imaging systems and terahertz spectroscopy systems. These systems are targeting diverse new markets such as pharmaceutical product analysis and electronic components.
Luna Innovations is a leader in optical technology that provides high-performance fiber optic test, measurement, and control products for the telecommunications and photonics industries and distributed fiber optic sensing solutions that measure the structures for industries ranging from aerospace, oil & gas, automotive, energy, security, and infrastructure. The company operates through two business segments, namely Lightwave and Luna Labs. The Lightwave segment consists of fiber optics testing, measurement, and sensing solutions and performs applied research in the areas of optical and terahertz technologies.
TeraView Limited. manufactures instruments that provide a reliable and robust source of terahertz light and exploit its properties to characterize a wide range of materials. The company creates terahertz instruments that generate, detect, and manipulate radiation to characterize a wide range of materials. It provides end users with the benefits of terahertz imaging and spectroscopy and has expertise in manipulating terahertz light. It provides both terahertz instrumentation as well as application know-hows to its customers. These include fault analysis and quality assurance for semiconductor chips used in mobile computing and communications as well as non-destructive inspection of high-value coatings used in the automotive, pharmaceutical, food, and solar industries.
TOPTICA Photonics AG develops and manufactures high-end laser systems for scientific and industrial applications. It has a strong portfolio, including diode lasers, ultrafast fiber lasers, terahertz systems, and frequency combs. It offers products for terahertz technology applications such as plastic inspection, paint and coating layers, paper quality control, hydration monitoring, communication, ultrafast dynamics, gas sensing, and fundamental physics. TOPTICA Photonics AG offers TeraFlash, a time-domain spectroscopy instrument in the terahertz technology market. The company has a wide geographic presence of representatives in several countries, including Australia, China, France, India, Israel, Japan, Russia, Singapore, South Korea, Spain, Taiwan, the UK, the US, and Germany, for marketing its products.
HÜBNER GmbH & Co. KG is a global system supplier for the mobility industry for manufacturing, life sciences, and research applications. The company operates through three business divisions: gangway systems for buses and railway vehicles (Mobility), solution provider for rubber products, plastics technologies, and elastomer-coated industrial textiles (Material Solutions), and supplier for applications in the field of laser, terahertz, and high-frequency technologies (Photonics).
Terahertz Technology Market by Type (Terahertz Imaging, Terahertz Spectroscopy, Terahertz Communication Systems), Application (Laboratory Research, Medical & Healthcare, Satellite Communication), and Geography - Global Forecast to 2027
Mr. Aashish Mehra
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