The most common usage of terahertz technology is in Terahertz spectroscopy, used predominantly biomedical research owing to its exclusive features, which include the label-free and non-invasive identification and medical imaging of living cells. This technology offers significant advantages and advancements in THz spectroscopy technology, which plays a vital role in blood cell detection, bacterial identification, cancer cell characterization, as well as biological tissue discrimination. The future vision for THz spectroscopy is strongly focusing on the development of label-free, rapid, and convenient biosensors for THz in vivo imaging and point-of-care tests. The COVID-19 crisis affected the industries worldwide, and the global economy took the worst hit in the year 2020 and 2021. Since the majority of the countries were exercising lockdowns, the demand for terahertz technology had decreased at a prominent rate. This is due to the fact that the key terahertz technology product-purchasing countries had restricted their investment in these solutions and are utilized a fair percentage of their budget to combat COVID-19. The temporary shutdown of manufacturing facilities showcased negative trend in the terahertz technology market. The continuity of the COVID-19 spread had dangerous for terahertz technology market players.
Advantest Corporation, Luna Innovations Inc., Menlo Systems GmbH, Terasense Group Inc., and Toptica Photonics AG – Prominent Market Participants in Terahertz technology Market.
Advantest Corporation, Luna Innovations Inc., Menlo Systems GmbH, Terasense Group Inc., and Toptica Photonics AG are some of the key market players operating in the global environmental consulting services market. The listing of key players is derived by considering multiple factors such as overall revenue, current environmental consulting services product portfolio, geographical reach, new product launches, market initiatives, investment in technology upgradation, partnerships, and other market related activities. In addition to these players, there are several other important players operating in the terahertz technology ecosystems which were studies analyzed during the course of this market research study.
Most of the market initiatives were observed in North America and APAC region, which have a high potential of market-related products, solutions, and services. Few of the important market initiatives from the industry are mentioned below:
| Year | News | Country |
| 2023 | Das-Nano technology has been chosen by the Volkswagen Group to measure the layer thickness of its car body coverings. The automobile industry is highly competitive, necessitating the most stringent in-line quality control methods. However, the existing globally utilized quality control methods for measuring automobile body coating thickness have significant shortcomings that have been rectified with modern technology. | Europe |
| 2022 | A collaborative team of scientists from Vienna University of Technology (TU Wien) in Austria, the Institute of Solid State Physics in Russia, and Terasense Group, Inc. in the United States continued their R&D efforts aimed at developing THz Phase waveplates to support the ability to control and shaping terahertz beams. Out of several options for achieving the aim, they chose the one based on modulating the beam phase in a certain plane. A ‘phase plate,’ which is a dielectric plate of variable thickness that allows the creation of specified beam profiles, can be used to execute such manipulation. The experiment demonstrated that THz phase plates have better-focusing capacity than convex-concave lenses and pave the route for commercialization. | North America |
