Source: BCC Research

    According to a new technical market research report, TERAHERTZ RADIATION SYSTEMS: TECHNOLOGIES AND GLOBAL MARKETS (IAS029A) from BCC Research, the global market for terahertz (THz) radiation system technology is expected to be worth $77.2 million in 2008. This will decrease slightly in 2013, to $63.2 million. However, the market is expected to be worth $521.4 million in 2018, with a compound annual growth rate (CAGR) of 37.2% between 2013 and 2018.

    The market is broken down by type of THz system and includes segments for imaging, spectroscopy, other sensors, communications and computing. The imaging segment has the largest share of the market, worth an estimated $71.8 million in 2008. This is expected to decrease in 2013, and then increase to $206.7 million in 2018, for a CAGR of 37.2% for the period between 2013 and 2018.

    Spectroscopy represents the second largest segment, worth an estimated $5.4 million in 2008. This should increase to $7.7 million in 2013, for a CAGR of 7.4%, and then increase to $11.0 million in 2018, also a CAGR of 7.4%.

    Computing applications are expected to gain significant market share by 2013, with sales of $13.0 million. This is expected to increase to $105.6 million in 2018, for a CAGR of 29.4%.

    THz rays have been described as occupying the ¡°no man¡¯s land¡± between the worlds of optics and electronics. The THz region of the electromagnetic spectrum encompasses frequencies between 300 GHz (3 X 10¹¹ Hz) at the lower end and between 3 THz (3 X 10¹² Hz) and 10 THz at the upper end. As such, the THz range is essentially identical to the so-called far infrared or sub-millimeter wavelength range between 1 millimeter and 100 micrometer.

    THz radiation has a number of interesting properties that help to define its potential applications. These properties include line-of-sight travel, limited range, safety, the ability to penetrate non-conducting materials, improved image resolution/contrast, absorption by water and other materials, interactions with metal, and spectral sensitivity.