Wellesley, MA (PRWEB) August 20, 2013
According to a new technical market research report, Terahertz Radiation Systems: Technologies and Global Markets (Report code: IAS029C) from BCC Research (http://www.bccresearch.com), the global market for terahertz (THz) radiation systems is expected to reach $51.3 million in 2013. BCC Research expects the market to reach $195.3 million by 2018. The diversification of the THz market is expected to accelerate after 2018, and the total market value should exceed $942 million by 2023.
Over the last hundred years or so, physicists and engineers have progressively learned to exploit new areas of the electromagnetic spectrum. Starting with visible light, they have developed technologies for generating and detecting radiation at both higher and lower frequencies.
THz rays have been described as occupying the "no man’s land" between the worlds of optics and electronics. Sandwiched between the optical on the short wavelength side and radio on the long wavelength extreme, the THz frequency range (also called the far infrared or submillimeter-wave region) has been the least explored and developed portion of the electromagnetic spectrum.
The potential usefulness of THz radiation, with its ability to penetrate a wide range of non-conducting materials has been known for a long time. However, practical applications of THz radiation have been longer in coming, due to the so-called "terahertz gap." The terahertz gap refers to the technologies needed to generate, channel, and detect THz radiation subject to real-world constraints such as size, cost, and operating temperatures. Recent developments in THz radiation sources, detectors and waveguides have started to close this gap, opening up a range of potential applications in transportation security, medical imaging, nondestructive testing, and other fields.
This report is an update of an earlier BCC Research report, published in 2011. The study includes an assessment of the technological progress that has been made toward bridging the terahertz gap and assessing the commercial potential of THz radiation devices over the next five to 10 years.
This report addresses the emerging global market for THz radiation devices such as imaging, spectroscopy, other sensors, communications, and computers. THz imaging devices are the largest device segment in this market and its market value is expected to reach $77.1 million by 2018. BCC Research projects that this segment will reach a market value of $321.5 million by the end of 2023, and register a CAGR of 33.1%. Astronomy research is currently the largest single application of THz systems. The astronomy market is expected to reach $35 million in 2018, and is expected to remain the same until 2023.
This new BCC Research report is intended especially for marketing executives, entrepreneurs, investors, venture capitalists, and other readers with a need to know where the emerging market for THz radiation devices is headed over the next 10 years. Scientists and technologists will also find this report of value as it concerns the market for their work, including the availability of government and corporate research funding for different technologies and applications.