[FURL=https://www.industryarc.com/Report/16739/terahertzinfrared-spectroscopy-market.html]Terahertz and Infrared Spectroscopy Market[/FURL] size is estimated to be $1.1 billion in 2019, growing at a CAGR of 20.3% during the forecast period 2020-2025.Technological advancements and growing innovation regarding security concern in airport, baggage screening, food inspection and rise in cancer is a significant factor contributing to its market growth. Terahertz radiation occupies a relatively unexplored portion of the electromagnetic spectrum between the mid-infrared and microwave bands, offering innovative sensing and imaging technologies that can provide information unavailable through methods such as microwave and X-ray techniques. With the advancement of THz technologies, THz sensing and imaging impacted a broad range of interdisciplinary fields, including chemical and biological detection and identification. In addition THz radiation offers opportunity for transformational advances in defense and security. Key Takeaways
The Near-Infrared accounted for the largest market share in 2019 as it is portable and inexpensive device for functional neuroimaging.
Semiconductor is the dominant end user vertical of terahertz and infrared spectroscopy market in 2019 owing to its benefits in pharmaceutical and biomedical.
North America dominated terahertz and infrared spectroscopy market in 2019 owing to the technological development, improved industrial infrastructure, presence of major players and a higher rate of adoption of new technologies in the region.
Technological advancements and growing innovation in terahertz serves as a significant factor for its market growth.
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By Application- Segment Analysis
Semiconductor segment is the poised to be the fastest growing application projected to grow with a CAGR of 18.6% during the forecast period 2020-2025.According to article published in April 2018, researchers team demonstrate terahertz semiconductor laser with record high-output power.
Geography- Segment Analysis
In 2019, North America is estimated to be the dominant region accounting for 39% of the Terahertz and Infrared Spectroscopy market share, owing to the technological development, improved industrial infrastructure, presence of major players and a higher rate of adoption of new technologies in the region.
Drivers – Terahertz and Infrared Spectroscopy Market
Increased Demand of Security Screening System
Technological Advancements In Terahertz
Terahertz and Infrared Spectroscopy Market Industry Outlook : Terahertz and Infrared Spectroscopy Market top 10 companies are Qualcomm Technologies Inc, Advanced Photonix Inc, Menlo System GmBH, QMC Instruments Ltd, Teraview, Luna Innovations, Toptica Photonics, Thermo Fisher Scientific, Bruker and Agilent Technologies.
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