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Terahertz spectroscopy denotes electromagnetic fields to detects and controls properties of matter. The frequency range between a few hundred gigahertz and several terahertz. The advantages offered by terahertz technology is widely used in industries for quality check and process control monitoring. In addition, the detection of impurities in the pharmaceutical industry and security screening has led to wide acceptance of terahertz technology, consecutively driving the terahertz components and systems market. Further, the rising usage of terahertz technology in laboratories are anticipated to boost the demand for terahertz components. According to a study published by Insure Insights, the global terahertz components and system market is expected to grow at a CAGR of 24.7% during the forecast period.
Top Driver: Robust Demand for Legal Expert and Security Systems with Cognitive Abilities
The substantial increase in the application of terahertz technology for characterization and thickness mapping of ceramic, dielectric, and composite materials is one of the significant driving factors for the market. Rising Incidences of chronic diseases like cancer and other skin disorders have led to surging demand for advanced technology-based devices for better and quick detection for fast recovery. In turn, this is stimulating the application of terahertz radiations in various high-end medical devices across the world. The growing concern towards homeland security has encouraged the government to take initiatives concerning security in high alert zones like railway stations, airports, and metro stations.
However, the high cost associated with terahertz devices is anticipated to hinder the market’s growth during the forecast period.
Terahertz Sources to Make Crucial Contribution to Growth of Market
On the basis of component, the terahertz components and systems market was segmented into Terahertz Sources, Terahertz Detectors, Others. The terahertz sources segment was expected to be the fastest growing segment in the market owing to its high demand in industrial sector. On the basis of systems, the market is segmented into Systems based on spectroscopy, Terahertz Radar, Terahertz Sensing. On the basis of application the market is segmented into Nondestructive Testing, Industrial Process Management, Research Laboratory, Medical Imaging, Others.
Rising Investments to Benefit North America Market
The market in North America is anticipated to gain the largest share of the global terahertz technology market in the recent years. The market in APAC is expected to grow at the highest CAGR in the near future. The number of manufacturing companies is surging in several developing countries, such as China, India, and Japan, in the region, which is driving the growth of the market in APAC. Furthermore, shifting consumer landscape which includes, consumer adoption levels, the demographic factors, and economic factors are anticipated to help the market growth in the near future.
Players to Focus on Terahertz Components and Systems Market
The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. M Squared Lasers Ltd., Advantest Corp, NEC Corp, Bridge12 Technologies Inc., Applied Research & Photonics Inc., Microtech Instruments Inc., Bruker Corp, Menlo Systems GmbH, Digital Barriers PLC, TeraView, EMCORE Corp, and Techcomp Group Ltd.among others could be at the forefront of the competition in the global market.
Bruker Corporation: In March 2019, Bruker Corporation announced that it had acquired Arxspan LLC, a provider of cloud-based scientific software and workflow solutions, based in Southborough, Massachusetts. Arxspan is known for its line of cloud-based products for the management of research data under the Arxlab brand. The company has a focus on serving pharmaceutical and biopharma customers. Financial details of the transaction were not disclosed.
EMCORE Corporation: In September 2012, EMCORE Corporation, a leading provider of compound semiconductor-based components and subsystems for the fiber optic and solar power markets, announced that it had entered into an OEM agreement with Lake Shore Cryotronics, Inc. to supply an OEM version of the PB7200 Portable Frequency Domain Terahertz (THz) Spectrometer.
Scope of the Report
By Components
By Systems
By Application
By Region
Key Reasons to Purchase this Report
Table of Content
Chapter 2 Our Research Practice
Chapter 4 Covid-19 Impact Analysis
4.3 Key Factor Impact Analysis
Chapter 5 Global Network Forensics Market Forces
5.2 Porter’s Five Forces Analysis
5.2.2 Threats From New Entrants
5.2.4 Threat From Substitute Product
Chapter 6 Global Network Forensics Market -Industry Snapshots
6.1.1 Global Network Forensics Market Value, 2019 – 2028, (US$ Bn)
6.2.2 Restraint/Challenges analysis
6.3 Supply Chain/Value Chain Analysis
Chapter 7 Global Network Forensics Market Analysis, by Component
7.2 Key Findings for Network Forensics Market- By Type
7.2.1 Network Forensics Market- Software
7.2.2 Network Forensics Market- Services
Chapter 8 Global Network Forensics Market Analysis, by Application
8.2 Key Findings for Network Forensics Market- By Application
8.2.1 Network Forensics Market- BFSI
8.2.2 Network Forensics Market- Government
8.2.3 Network Forensics Market- IT and Telecommunication
8.2.4 Network Forensics Market- Manufacturing
8.2.5 Network Forensics Market- Energy and Utilities
8.2.6 Network Forensics Market- Healthcare
8.2.7 Network Forensics Market- Retail
Chapter 9 Global Network Forensics Market Analysis, by End User
9.2 Key Findings for Network Forensics Market- By End User
9.2.1 Network Forensics Market- Small and Medium Enterprises
9.2.2 Network Forensics Market- Large Enterprises
Chapter 10 Network Forensics Market Analysis by Region
10.1 Key Findings for Network Forensics Market- By region
10.2.1 Global Network Forensics Market Analysis, By Type, 2019 – 2028
10.2.2 Global Network Forensics Market Analysis, By Application, 2019 – 2028
10.2.3 Global Network Forensics Market Analysis, By End User, 2019 – 2028
10.3 Network Forensics Market – North America
10.3.5 North America Market, By Type
10.3.6 North America Market, By Application
10.3.7 North America Market, By End User
10.4 Network Forensics Market – Europe
10.4.8 Europe Market, By Application
10.4.9 Europe market by, End User
10.5 Network Forensics Market – Asia Pacific
10.5.6 Asia Pacific Market, By Type
10.5.7 Asia Pacific Market, By Application
10.5.8 Asia Pacific Market, By End User
10.6 Network Forensics Market – SAMEA
10.6.2 Middle East & Africa (MEA)
10.6.5 South America, Middle East and Africa Market, By Type
10.6.6 South America, Middle East and Africa Market, By Application
10.6.7 South America, Middle East and Africa Market, By End User
Chapter 11 Market Competition Analysis
11.1 Market Share/Positioning Analysis
11.1.1 Market Positioning of Key Vendors, 2019
11.1.2 Key Strategies Adopted by the Leading Players
Chapter 12 Company Profiles- Snapshot
*More than 10 Companies are profiled in this Research Report*
*Financials would be provided on a best efforts basis for private companies”
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