Report Highlights
The global terahertz (THz) radiation systems market should reach $1.9 billion by 2028 from $795.7 million in 2023 at a compound annual growth rate (CAGR) of 18.9% for the forecast period of 2023 to 2028.
Report Includes
- 55 tables and 80 additional tables
- Detailed overview and an up-to-date analysis of the global markets for terahertz (THz) radiation systems and related technologies
- Analyses of the global market trends, with market revenue data (sales figures) for 2022, estimates for 2023, forecasts for 2024 and 2026, and projections of compound annual growth rates (CAGRs) through 2028
- Discussion of the major growth drivers, industry-specific challenges, regulatory aspects, and technology advancements that will shape the market for terahertz radiation systems as a basis for projecting demand in the next few years (2023-2028)
- Estimation of the actual market size and revenue forecast for global THz radiation systems market, and corresponding market share analysis based on the type of technology, application, and region
- Assessment of the technological process that has been made toward bridging the terahertz gap and assessing the commercial potential of THz radiation devices over the analysis period
- Characterization and quantification of the market potential for each short-listed THz technology, by application, and identifying the main prerequisites (that are still under development) for commercial success
- Identification of THz applications that are most likely to achieve significant commercial sales by 2028
- Review of key patent grants on terahertz radiation systems and related technologies by each major category, and new and emerging developments in the global market
- Descriptive company profiles of the leading global players of the industry, including Advantest Corp., Bruker Corp., EMCORE Corp., Northrop Grumman Corp. and Thruvision Ltd.
Report Scope
In this report, the market has been segmented based on type, application, and geography. The report provides an overview of the global THz radiation systems market and analyzes market trends. Using 2022 as the base year, the report provides estimated market data for 2023-2028. Market values have been estimated based on the triangulation method using parameters such as total revenue of THz radiation systems providers, primary interview results, and secondary white paper information.
The report covers the market for THz radiation systems with regard to the end-user base across different regions. It also highlights major trends and challenges that affect the market and the vendor landscape. The report estimates the global market for THz radiation systems in 2022 and provides projections for the expected market size through 2028.
Report Synopsis
| Report Metrics | Details | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2022 | ||||||||||||||||||||||||||||||||||
| Forecast period considered | 2023-2028 | ||||||||||||||||||||||||||||||||||
| Base year market size | $622.9 million | ||||||||||||||||||||||||||||||||||
| Market size forecast | $1.9 billion | ||||||||||||||||||||||||||||||||||
| Growth rate | CAGR of 18.9% | ||||||||||||||||||||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||||||||||||||||||||
| Segments covered | By type, application, and region | ||||||||||||||||||||||||||||||||||
| Regions covered | North America, Europe, Asia-Pacific, South America, and Rest of the World (ROW) | ||||||||||||||||||||||||||||||||||
| Countries covered | U.S., Canada, Mexico, U.K., Germany, France, Rest of Europe, China, Japan, India, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, RoW (Middle East and Africa) | ||||||||||||||||||||||||||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
Report Highlights
The global market for terahertz (THz) radiation devices and systems totaled $58.2 million in 2018. The market should reach $908.6 million in 2024 and $3.5 billion by 2029, growing at compound annual growth rates (CAGRs) of 72.7% and 31.1% from 2019 to 2024 and 2024 to 2029, respectively.
Report Includes
- 42 tables
- An overview of the global market for terahertz (THz) radiation devices and systems
- Analyses of global market trends with data from 2018, estimates for 2019, projections for 2024, potentials for 2029, and compound annual growth rates (CAGRs) through 2029
- Assessment of the technological process that has been made toward bridging the terahertz gap and assessing the commercial potential of THz radiation devices over the next ten years
- Quantification of the potential market for each short-listed THz technology, by application, and identifying the main prerequisites (that are still under development) for commercial success
- Identification of THz applications that are most likely to achieve significant commercial sales by 2029
- Historical milestones in detail for the development of THz radiation devices
- A relevant patent analysis covering terahertz radiation technologies, applications and end uses
- Profiles of major companies producing THz radiation-based products; Key entities including BAE Systems plc, Lockheed Martin Space Systems, M Squared Lasers Ltd., Northrop Grumman Corp., QMC Instruments Ltd., and ThruVision Group plc
Report Highlights
The global market for terahertz radiation devices and systems reached $56.4 million in 2016. This market is expected to increase from $57.3 million in 2017 to $335.1 million in 2022 and $1.3 billion in 2027 at a compound annual growth rate (CAGR) of 42.4% for 2017-2022.
Report Includes
- An overview of the global market for terahertz radiation (THz) systems.
- Analyses of global market trends, with data from 2016, estimates for 2017, 2022 and 2027 and projections of compound annual growth rates (CAGRs) through 2027.
- Identification of the classes of devices, including imaging devices, spectroscopes, other sensors, communications devices, and computing devices.
- Examination of general properties of THz radiation.
- Historical milestones in the development of THz radiation devices.
- Discussion of emerging and developmental THz radiation technologies and applications that have the greatest commercial potential through 2027.
- Assessments of promising THz applications in the context of user needs and competing technologies.
- Industry structure.
- Patent analysis.
Report Highlights
The global market for terahertz radiation devices and systems reached $53.4 million and $54.7 million in 2013 and 2014, respectively. This market is forecasted to grow at a compound annual growth rate (CAGR) of 40.4% to reach $298.5 million in 2019 and is also forecasted to reach $1.2 billion in 2024 at a CAGR of 32.3%.
Report Includes
- An overview of the global market for terahertz radiation (THz) systems.
- Analyses of global market trends, with data from 2013 and 2014, and projections of compound annual growth rates (CAGRs) through 2019 and 2024.
- Identification of the classes of devices, including imaging devices, spectroscopes, other sensors, communications devices, and computing devices.
- Examination of general properties of THz radiation.
- Historical milestones in the development of THz radiation devices.
- Discussion of emerging and developmental THz radiation technologies and applications that have the greatest commercial potential through 2019.
- Assessments of promising THz applications in the context of user needs and competing technologies.
- Industry structure.
- Patent analysis.
Report Highlights
BCC estimates the total market for THz systems was valued at $50.2 million in 2012. The market should increase slightly by the end of 2013 to $51.3 million. The development of new commercial THz applications should push the market to $195.3 million in 2018. The diversification of the THz market is expected to accelerate after 2018, and the total market should exceed $942 million by 2023.
Report Includes
- An overview of the global market for terahertz radiation (THz) systems
- Analyses of global market trends, with data from 2012, estimates for 2013, and projections of compound annual growth rates (CAGRs) through 2018
- Identification of the classes of devices, including imaging devices, spectroscopes, other sensors, communications devices, and computing devices
- Examination of general properties of THz radiation
- Historical milestones in the development of THz radiation devices
- Discussion of emerging and developmental THz radiation technologies and applications that have the greatest commercial potential through 2018
- Assessments of promising THz applications in the context of user needs and competing technologies
- Industry structure
- Patent analysis
- Comprehensive company profiles of major players.
Report Highlights
BCC estimates the market for terahertz (THz) radiation devices totaled $83.7 million in 2011. This market will grow to $127 million in 2016. The diversification of the THz market is expected to accelerate after 2016, and the total market should reach $570 million by 2021, a compounded annual growth rate (CAGR) of 35% from 2016 to 2021.
Report Highlights
- The global market for THz radiation devices and systems was worth an estimated $77.2 million in 2008. This is expected to decrease slightly to $63.2 million in 2013, but then to increase to $521.4 million in 2018, for a compound annual growth rate (CAGR) of 52.5%.
- Imaging systems generated an estimated $71.8 million in 2008. This is expected to decrease in 2013 and reach $206.7 million in 2018, for a CAGR of 37.2%.
- Spectroscopy systems were worth an estimated $5.4 million in 2008. This should increase to $7.7 million in 2013, for a CAGR of 7.4%.
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