Global terahertz scanner market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 23.5% during the forecast period.
Global Terahertz Scanner Market
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Global terahertz scanner market Definition
The terahertz scanner is a scanning device or instrument that uses terahertz waves of an electromagnetic spectrum. The terahertz scanners are used to receive and analyze terahertz frequency (3 and 3 THz) emitted by the body to detect or scan objects such as weapons, liquid, powder and other concealed items.
Global terahertz scanner market Dynamics
An increasing demand for speedy, accurate, safe and efficient imaging and scanning solutions for remote security screening applications is making more demand for terahertz scanners in the global market, which is the major driving factor behind the growth of the market. Rising adoption of terahertz scanners in airport security application to scan illegal explosives, weapons and drugs, increasing demand for portable, flexible and wearable terahertz body scanners and growing advancements in terahertz technology to use in applications such as medical imaging, scientific imaging and many others are expected to improve the growth of the market during the forecast period.
However, high initial cost associated with terahertz scanner is the major restraining factor that could hamper the growth of the market.
Global Terahertz Scanner Market: Segmentation Analysis
By product type, portable segment dominated the market in 2019 and is projected to witness high growth at a CAGR of XX% during the forecast period. A surge in the adoption of portable and wearable terahertz scanners for applications such as inspection of the human body and medical equipments is attributed to the growth of the market. The scientists and researchers are continuously developing portable terahertz scanners to wrap around a particular object and to image or scan concealed items such as paper clips or metal washers hidden behind germanium plates or paper sheets, a break in a syringe and metal impurities in a plastic bottle and to inspect various industrial products are expected to improve market growth in the coming years.
An increasing use of portable terahertz scanner for multi-view scanning of cylindrical objects, for inactive wearable scanning of a human hand and for active imaging of curved and flat objects are impelling the growth of the market. In addition, the worldwide researchers and scientists are developing their portable terahertz scanner to improve the facility of non-invasive inspections in medical monitoring, food quality control and pharmaceutics applications, which is ultimately leading to the market growth.
Global Terahertz Scanner Market: Regional Analysis
Region-wise, Asia Pacific held the largest market share in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. The economies such as China, Japan, India and South Korea are the major key contributors behind the growth of the market. The growth is attributed to the high adoption of terahertz scanners in airports for security screening applications.
A growing adoption of terahertz technology based products in research laboratory in several research firms & universities, rising demand for terahertz scanners in food and processing industry and continuous research and development activities in the field of wearable terahertz scanners are propelling the growth of the market in APAC region.
The objective of the report is to present a comprehensive analysis of the Global Terahertz Scanner Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Terahertz Scanner Market dynamics, structure by analyzing the market segments and projects the Global Terahertz Scanner Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Terahertz Scanner Market make the report investor’s guide.
The Scope of Global Terahertz Scanner Market: Inquire before buying
Global Terahertz Scanner Market, By Component
• Terahertz Source
• Terahertz Detector
Global Terahertz Scanner Market, By Product Type
• Fixed
• Portable
Global Terahertz Scanner Market, By Industry
• Logistics and Transportation
• Healthcare
• Pharmaceuticals
• Government and Defense
• Retail
• Research
• Industrial
• Others
Global Terahertz Scanner Market, By Region
• North America
US
Canada
• Europe
UK
France
Germany
Italy
Spain
Norway
Russia
• Asia Pacific
China
India
Japan
South Korea
Australia
Malaysia
Indonesia
• South America
Brazil
Mexico
Argentina
• Middle East and Africa
Global Terahertz Scanner Market, Key Players
• TeraView Limited
• TeraSense, Inc
• Microtech Instruments, Inc
• Asqella Oy
• Traycer Systems, Inc
• Ara Scientific ApS
• Zurich Instruments AG
• Advantest Corporation
• Menlo Systems Gmbh
• Luna Innovations
• HÜBNER Photonics
• Phase Sensitive Innovations Inc
• Phluxi
• Te Tech S Inc
• Advanced Photonix
• Logos Technologies LLC
• Bakman Technologies
• das-Nano
• Rainbow Photonics
• Teraprobes Inc
• XX
• XX
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