Global Terahertz Technology Market to Cross $1.2 BN by 2027 – Driving Revenue Growth in Various Industries

Chicago, Feb. 14, 2023 (GLOBE NEWSWIRE) — Terahertz Technology Market by Type (Terahertz Imaging, Terahertz Spectroscopy, Terahertz Communication Systems), Application (Laboratory Research, Medical & Healthcare, Satellite Communication), and Geography (2022-2027), 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.

The Rise of Terahertz Technology in North America

Terahertz technology, also referred to as T-ray or T-wave technology, has received a great deal of attention in recent years in North America. This technology operates in the microwave to infrared radiation range with the potential to transform many fields, which would include communication, imaging, and sensing. T-rays’ ability to penetrate materials that are opaque to visible light and radio waves has made them a popular choice for non-destructive testing, medical imaging, and security screening. Many leading universities and research institutions in North America have been actively involved in the development and development of terahertz technology. With enhanced government funding and private investment, the use of T-rays is expected to increase, actually results in new and innovative medical applications.

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Market Key Players :

ADVANTEST CORPORATION

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.

Advantest Corporation is a pioneer in the field of terahertz technology. The company is dedicated to creating advanced test and measurement solutions for the semiconductor industry, and it has been continuing to investigate the potential of T-ray technology for a variety of applications. Advantest has generated cutting-edge terahertz spectroscopy systems for use in semiconductor device characterization and analysis, to high accuracy and resolution for terahertz measurements. In furthermore, the company has been heavily involved in the development of terahertz imaging systems for non-destructive testing, medical imaging, and security screening. Advantest’s dedication to terahertz technology and innovative solutions has established the company as a market leader, providing useful solutions for a diverse range of industries and applications.

Scope of the Report

This research report categorizes the Terahertz Technology Market based on type, application, and region

Luna Innovations

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.

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.

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TOPTICA Photonics AG

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.

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Cree, Inc. (US) is one of the leading manufacturers of wide bandgap semiconductor products for power and radiofrequency (RF) applications and lighting-class light-emitting diode (LED) products. It is involved in designing, developing, and providing semiconductor products based on SiC and GaN technologies. The company mainly focuses on adopting inorganic growth strategies such as partnerships and agreements to strengthen its position in the SiC market.

Market Dynamics:

Driver: Rise in demand for compact and energy efficient transceiver

The manufacturers of optical transceivers are concentrating more on R&D for serving different applications in the metro network, data center interconnect, long haul applications, and others, which require optical transceivers to be compatible with the complex network. Optical transceiver OEMs such as Fujitsu Optical Components (Japan) and Broadcom (US) are companies offering transceivers that are compact and consume little power.

Restraint: Increased network complexity

The existence of multiple protocols and platforms and consistent requirements for compact networks have resulted in the growing use of connectivity ICs. Also, hardware and software both play a key role in emerging technology-based products, such as the Internet of Things (IoT) devices, which are deployed in optical communication networks. However, the use of ICs and IoT devices makes the network more complex. Similarly, for network monitoring and control, drop modules, variable optical attenuators, and tap power monitors are required to be fixed in a single compact unit.

Opportunity: Expansion of telecom infrastructure in developing economies

The expansion of telecommunication infrastructure will have a substantial effect on developing countries in a positive way. With the advent of IoT, AI, and Big Data, there is an increasing demand for smart devices and other connected applications. The interconnected technologies across telecommunication sectors play an important role in capturing, translating, and transferring data into meaningful information, which is crucial for the reinforcement of urban infrastructure.

Challenge: Vulnerability of optical networks to hacking

Fiber optic technology-based storage and communication systems were deemed to be safer than the conventional copper cable-based systems as hacking into data within a fiber optic-based system required extremely sophisticated technology, which used to be only available to government agencies. However, in recent times, inexpensive hardware and software have started emerging.

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