The Asia Pacific terahertz technology market is expected to grow from US$ 83.09 million in 2021 to US$ 512.02 million by 2028; it is estimated to grow at a CAGR of 29.7% from 2021 to 2028.
The terahertz ranges in the electromagnetic spectrum ranges between the microwaves and infrared spectrum, which comprises of the frequency of one million oscillations per second. Due to terahertz technology's exceptional properties, the terahertz radiation plays a crucial technology to be adopted in the future. This technology is usually used to detect hidden explosives, drugs as well as can recognize which substances are flowing from the plastic pipe. The terahertz technology is proficient enough to monitor the layer thickness with visualizing material flaws in ceramics or plastic in a non-destructive manner. Owing to its low energy characteristics, the terahertz radiation is non-hazardous for animals as well as humans. The terahertz technology is usually integrated with scanners based on active and passive methods. In a passive method, the scanning is constrained to the natural terahertz radiation, which is emitted through the human body. Similarly, the active method integrates an additional artificial radiation source through terahertz radiation. Thus, the system uses the discrepancy in the wavelength from the backscatter to recreate an image.In Asia Pacific, India reported a huge number of COVID-19 cases, which led to the discontinuation of business activities, including terahertz technology development activities. Due to the COVID-19 outbreak, the terahertz technology product & solution manufacturing and procurement activities have seen a sharp decline with multiple projects on hold and the unavailability of laborers due to movement restrictions in various countries. Furthermore, due to the corporate tax cuts and the decrease in the overall economic strength in India, the cutoff of the Chinese manufacturers can be advantageous for India's economic growth. The governments of this region are taking drastic measures to reduce the effects of the COVID-19 outbreak by announcing lockdowns, travel and trade bans. All these measures are expected to have a negative impact on the demand for terahertz technology in this region.
With the new advancements and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific terahertz technology market. The semiconductor is one of the prominent industries in all types of industries. With the growing industrial sector, self-driving vehicles, and consumer electronics, the production of semiconductors is also booming at an exponential rate. With increasing semiconductor production, the adoption of advanced technologies such as terahertz also holds a significant position. Semiconductor packaging inspection; non-destructive fault isolation of packaging systems, fault isolation & defect detection for the microelectronics; wireless communication; semiconductor chips used in communications and mobile computing; transmitters & receivers; and wiring quality of semiconductor packages including wafer-level packages, Flip Chip BGA, and 2.5D/3D ICs are some of the application areas where terahertz is utilized. Also, the application of the terahertz system in semiconductor manufacturing is becoming appealing to composite materials, solar cells, dielectric film, and polymer films. The semiconductor industry using terahertz provides a large potential market for growth; this technology and system is ideal to evaluate epitaxial wafers and interconnects in the packaged chips.
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Asia Pacific Terahertz Technology Market Segmentation
- Asia Pacific Terahertz Technology Market – By Component
- Terahertz Sources
- Terahertz Detectors
- Asia Pacific Terahertz Technology Market – By Type
- Terahertz Imaging Systems
- Terahertz Spectroscopy System
- Terahertz Communication System
- Asia Pacific Terahertz Technology Market – By Application
- Medical and Healthcare
- Defense and Security
- Food and Agriculture
- Industrial
- Semiconductor
- Others
- Asia Pacific Terahertz Technology Market – By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Terahertz Technology Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
4.5 Premium Insights
5. Terahertz Technology Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Incrementing Demand for Terahertz Technology from Various Sectors
5.1.2 Rise in the Usage of Terahertz System in Semiconductor Industry
5.2 Market Restraints
5.2.1 Lack of Awareness Together with Shortage of Skilled Professionals
5.3 Market Opportunities
5.3.1 Implementation of Terahertz Technology in Processing Applications in the Food Industry
5.4 Future Trends
5.4.1 Incorporation of Terahertz Technology for Satellite Communication
5.5 Impact Analysis of Drivers and Restraints
6. Terahertz Technology Market – Asia Pacific Analysis
6.1 Terahertz Technology Market Asia Pacific Overview
6.2 Terahertz Technology Market – Asia Pacific Revenue and Forecast to 2028 (US$ Million)
7. Asia Pacific Terahertz Technology Market Analysis – By Component
7.1 Overview
7.2 Terahertz Technology Market, By Component (2020 and 2028)
7.3 Terahertz Sources
7.3.1 Overview
7.3.2 Terahertz Sources: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Terahertz Detectors
7.4.1 Overview
7.4.2 Terahertz Detectors: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
8. Asia Pacific Terahertz Technology Market – By Type
8.1 Overview
8.2 Terahertz Technology Market, by Type (2020 and 2028)
8.3 Terahertz Imaging Systems
8.3.1 Overview
8.3.2 Terahertz Imaging Systems: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Terahertz Spectroscopy Systems
8.4.1 Overview
8.4.2 Terahertz Spectroscopy Systems: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Terahertz Communication Systems
8.5.1 Overview
8.5.2 Terahertz Communication Systems: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
9. Asia Pacific Terahertz Technology Market – By Application
9.1 Overview
9.2 Terahertz Technology Market, by Application (2020 and 2028)
9.3 Medical and Healthcare
9.3.1 Overview
9.3.2 Medical and Healthcare: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Defense and Security
9.4.1 Overview
9.4.2 Defense and Security: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Food and Agriculture
9.5.1 Overview
9.5.2 Food and Agriculture: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Industrial
9.6.1 Overview
9.6.2 Industrial: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Semiconductor
9.7.1 Overview
9.7.2 Semiconductor: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
9.8 Other
9.8.1 Overview
9.8.2 Others: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
10. Asia Pacific Terahertz Technology Market – Country Analysis
10.1 Asia Pacific: Terahertz Technology Market
10.1.1 Asia Pacific: Terahertz Technology Market- by Key Country
10.1.1.1 Australia: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 Australia: Terahertz Technology Market- by Component
10.1.1.1.2 Australia: Terahertz Technology Market- By Type
10.1.1.1.3 Australia: Terahertz Technology Market- By Application
10.1.1.2 China: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 China: Terahertz Technology Market- by Component
10.1.1.2.2 China: Terahertz Technology Market- By Type
10.1.1.2.3 China: Terahertz Technology Market- By Application
10.1.1.3 India: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 India: Terahertz Technology Market- by Component
10.1.1.3.2 India: Terahertz Technology Market- By Type
10.1.1.3.3 India: Terahertz Technology Market- By Application
10.1.1.4 Japan: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 Japan: Terahertz Technology Market- by Component
10.1.1.4.2 Japan: Terahertz Technology Market- By Type
10.1.1.4.3 Japan: Terahertz Technology Market- By Application
10.1.1.5 South Korea: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.5.1 South Korea: Terahertz Technology Market- by Component
10.1.1.5.2 South Korea: Terahertz Technology Market- By Type
10.1.1.5.3 South Korea: Terahertz Technology Market- By Application
10.1.1.6 Rest of APAC: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.6.1 Rest of APAC: Terahertz Technology Market- by Component
10.1.1.6.2 Rest of APAC: Terahertz Technology Market- By Type
10.1.1.6.3 Rest of APAC: Terahertz Technology Market- By Application
11. Asia Pacific Terahertz Technology Market- COVID-19 Impact Analysis
11.1 Overview
11.2 Asia-Pacific
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
13. Company Profiles
13.1 Terasense Group Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Teraview limited
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Advantest Corporation
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Toptica Photonics AG
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Luna Innovations Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 HÜBNER GmbH & Co. KG
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Menlo Systems GmbH
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Asia Pacific Terahertz Technology Market – Revenue, and Forecast to 2028 (US$ Million)
Table 2. Australia: Terahertz Technology Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia: Terahertz Technology Market- By Type –Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia: Terahertz Technology Market- By Application –Revenue and Forecast to 2028 (US$ Million)
Table 5. China: Terahertz Technology Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 6. China: Terahertz Technology Market- By Type –Revenue and Forecast to 2028 (US$ Million)
Table 7. China: Terahertz Technology Market- By Application –Revenue and Forecast to 2028 (US$ Million)
Table 8. India: Terahertz Technology Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 9. India: Terahertz Technology Market- By Type –Revenue and Forecast to 2028 (US$ Million)
Table 10. India: Terahertz Technology Market- By Application –Revenue and Forecast to 2028 (US$ Million)
Table 11. Japan: Terahertz Technology Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 12. Japan: Terahertz Technology Market- By Type –Revenue and Forecast to 2028 (US$ Million)
Table 13. Japan: Terahertz Technology Market- By Application –Revenue and Forecast to 2028 (US$ Million)
Table 14. South Korea: Terahertz Technology Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 15. South Korea: Terahertz Technology Market- By Type –Revenue and Forecast to 2028 (US$ Million)
Table 16. South Korea: Terahertz Technology Market- By Application –Revenue and Forecast to 2028 (US$ Million)
Table 17. Rest of APAC: Terahertz Technology Market- by Component –Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of APAC: Terahertz Technology Market- By Type –Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of APAC: Terahertz Technology Market- By Application –Revenue and Forecast to 2028 (US$ Million)
Table 20. List of Abbreviation
LIST OF FIGURES
Figure 1. Terahertz Technology Market Segmentation
Figure 2. Terahertz Technology Market Segmentation – By Country
Figure 3. Asia Pacific Terahertz Technology Market Overview
Figure 4. Terahertz Detectors Segment Held the Largest Market Share in 2020
Figure 5. Terahertz Imaging Systems Segment Held the Largest Market Share in 2020
Figure 6. Medical and Healthcare Segment Held the Largest Market Share in 2020
Figure 7. China was the Largest Revenue Contributor in 2020
Figure 8. Asia-Pacific – PEST Analysis
Figure 9. Terahertz Technology Market– Ecosystem Analysis
Figure 10. Expert Opinion
Figure 11. Terahertz Technology Market Impact Analysis of Drivers and Restraints
Figure 12. Asia Pacific Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Terahertz Technology Market Revenue Share, by Component (2020 and 2028)
Figure 14. Terahertz Sources: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Terahertz Detectors Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Terahertz Technology Market Revenue Share, by Type (2020 and 2028)
Figure 17. Terahertz Imaging Systems: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Terahertz Spectroscopy Systems: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Terahertz Communication Systems: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Terahertz Technology Market Revenue Share, by Application (2020 and 2028)
Figure 21. Medical and Healthcare: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Defense and Security: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Food and Agriculture: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Industrial: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Semiconductor: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Others: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Asia Pacific: Terahertz Technology Market, by Key Country – Revenue (2020) (USD Million)
Figure 28. Asia Pacific: Terahertz Technology Market Revenue Share, By Key Country (2020 and 2028)
Figure 29. Australia: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. China: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. India: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Japan: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. South Korea: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Rest of APAC: Terahertz Technology Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
- Terasense Group Inc.
- Teraview Limited
- Advantest Corporation
- Toptica Photonics AG
- Luna Innovations Inc.
- HÜBNER GmbH & Co. KG
- Menlo Systems GmbH
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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