31.83% CAGR For Terahertz Technology Market Growth 2022 Led by Asia-Pacific

Press Release   •   May 06, 2016 08:40 EDT

The global terahertz technology market will reach $489.8 million by 2022, growing at a CAGR of 31.83% between 2016 and 2022. The global terahertz technology market is driven by increase in demand for terahertz technology-based products in the defense & homeland security and medical sectors and high adoption rate of these products for laboratory research applications. Complete report on global terahertz technology market spread across 171 pages, profiling 14 companies and supported with 74 tables and 65 figures is now available at http://www.rnrmarketresearch.com/terahertz-technology-market-by-type-terahertz-imaging-terahertz-spectroscopy-and-terahertz-communication-systems-technology-terahertz-source-and-terahertz-detector-application-region-analysis-forecast-to-2022-market-report.html .

APAC is a major terahertz technology market. The commercialization of the applications of terahertz technology is in its introductory stages in the developing economies of APAC. However, countries such as China, India, and Japan are increasingly taking initiatives, such as heavy investments in R&D, to encourage the adoption of terahertz technology, which is expected to boost the demand for terahertz technology-based products in the region in the near future.

The market for laboratory research applications is estimated to grow at the highest CAGR during the forecast period. The market for laboratory research applications is expected to grow at the highest CAGR between 2016 and 2022; it held the largest share of the overall terahertz technology market in 2015. The continuous developments in the technology due to focused research carried out in various universities worldwide create more opportunities for the adoption of terahertz technology for various new applications such as food quality inspection. However, for such researches, there is a need for more precise products. This requirement proves to be the key driving factor for the growth of the market for laboratory research applications.

The main drivers of the growth of terahertz technology market include the increasing adoption of terahertz technology-based products for laboratory research applications in various universities & research firms globally and the growing demand for these products in various cancer treatment institutes & hospitals worldwide for more informative results.

The increase in demand for terahertz technology-based products for processing applications in the food industry provides a huge opportunity for the terahertz technology market to grow. The use of THz technology facilitates the users with larger bandwidth and therefore higher transmission rate as compared to microwave communications, without any need to switch to a different set of hardware such as lasers for optical communications. Due to this property, the terahertz technology-based products can be used in satellite communication applications as well.

The terahertz technology market is dominated by players such as Advantest Corporation (Japan), TeraView (U.K.), Menlo Systems GmbH (Germany), AcalPlc (U.K.), and Microtech Instrument Inc. (U.S.) among others. Make an Inquiry on “Terahertz Technology Market by Type (Terahertz Imaging, Terahertz Spectroscopy, and Terahertz Communication Systems), Technology (Terahertz Source and Terahertz Detector), Application & Region - Analysis & Forecast to 2022”research report at http://www.rnrmarketresearch.com/contacts/inquire-before-buying?rname=541061 .

On a related note, another research titled Mobile Augmented Reality Market Global Forecast to 2022 says, the mobile augmented reality market is expected to reach USD 79.77 billion by 2022, at a CAGR of 69.85% between 2016 and 2022. The major reason for the growth of the mobile augmented reality technology is the increasing use of smart phones and tablets, adoption of advanced technologies, and implementation of software applications in mobile computing. The use of augmented reality applications in smart phones, tablets, smart glasses, and other devices have increased the scope of the mobile augmented reality market for different sectors. Companies like Google Inc. (U.S.), Qualcomm Inc. (U.S.), Samsung Electronics Co. Ltd. (South Korea), Microsoft Corporation (U.S.), Infinity Augmented Reality Inc. (Israel), Blippar.com Limited (U.K.), DAQRI LLC (U.S.), Wikitude GmbH (Austria), Metaio GmbH (Germany), Catchoom Technologies (Spain), Aurasma (U.K.), and Atheer Inc. (U.S.) have been profiled in this 166 pages research report available at http://www.rnrmarketresearch.com/mobile-augmented-reality-market-by-component-3d-cameras-displays-sensors-and-software-application-smartphones-tablets-personal-digital-assistants-pda-game-consoles-smart-glasses-and-wearables-vertical-st-to-2022-market-report.html .

Explore more reports on Electronics market at http://www.rnrmarketresearch.com/reports/information-technology-telecommunication/electronics .

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