United States/WA: The Global Terahertz Components and Systems Market was valued at US$ 65.7 million in 2015 and is projected to expand at a CAGR of 27.9% during the forecast period (2017–2025).

Report Pages:[189 Pages] 

 Market Overview:

Global Terahertz Components and Systems Market are used in a wide range of mobile devices such as mobile phones, mobile devices with satellite links, and other radio wave transmitters. There is also a wide range of consumer electronics that are manufactured using this technology including TV and computer equipment. The manufacturing industry for these products is highly profitable as it has been able to reduce the power consumption of devices that run on batteries thereby increasing their longevity. This also helps in reducing the overall cost of electronic devices.

Market Competitive Landscape:-

Major layers operating in the Global Terahertz Components and Systems Market Market are Advantest Corporation, Applied Research & Photonics Inc., Digital Barriers PLC, EMCORE Corporation, Bruker Corporation, Teraview, M Squared Lasers Ltd, NEC Corporation, Menlo Systems GmbH, Techcomp Group Ltd., Bridge12 Technologies, Inc. and Microtech Instruments Inc.

Key Market Drivers:

The increasing prevalence of mobile service operators in the world is the main factor that is enhancing the growth of the global terahertz components and systems market. For instance, according to GSM Association, there are over 750 mobile operators and more than 400 companies in the world mobile ecosystem. The demand for ultra-small systems has led to the development of several new devices that use this terahertz technology. A major part of the manufacturing industry for these components is carried out in the semiconductor fabrication facilities. The demand for systems that operate at high frequencies is increasing rapidly due to the increased usage of mobile devices and the Internet for communication purposes. This technology is also being used in medical imaging, where it is used for creating digital images and audio recordings. Many hospitals across the world are now using this technology for patient records to make it easier for them to track and monitor patients. Increasing product and service launches by key market players are estimated to enhance the growth of the global terahertz components and systems market.

Covid-19 Impact Analysis:

The impact of the COVID-19 pandemic has been very significant on the wireless communication sector. For instance, according to CTIA, there has been a significant increase in usage since February 2020. Data usage has been up 28.4% and voice usage has been up 12.2%.

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Key Takeaways:

• The size of the global terahertz components and systems market is projected to grow at a CAGR of 24.04% during the market forecast period (2021-2028), owing to the increasing usage of smartphones in the world. For instance, according to BankMyCell, in 2020 there were around 4.88 billion and makes around 61.85% of the global population.

• North America is expected to hold a major share of the global terahertz components and systems market, owing to the increasing prevalence of wireless carriers in the region. For instance, according to MobilityArena, in the US there are 4 national wireless carriers, which are T-Mobile, AT&T Mobility, Sprint, and Verizon Wireless

• The Asia Pacific is estimated to witness high growth in the global terahertz components and systems market, owing to the increasing investments in wireless trichology. For instance, according to The Hindu, India is projected to invest around US$ 1 billion in artificial intelligence by the year 2023.

Global Terahertz Components and Systems Market, By Application:

• Industrial Process Management
• Research Laboratory
• Medical Imaging
• Nondestructive Testing
• Others

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Global Terahertz Components and Systems Market, By Components (Terahertz Sources, Terahertz Detectors), Systems (Systems based on spectroscopy, Terahertz Radar, Terahertz Sensing), Application (Industrial Process Management, Research Laboratory, Medical Imaging, Nondestructive Testing), and Geography – Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025.

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