Report : South America Terahertz Technology Market Forecast to 2030 - COVID-19 Impact and Regional Analysis - by Component (Terahertz Sources and Terahertz Detectors), Type (Terahertz Imaging Systems, Terahertz Spectroscopy Systems, and Terahertz Communication System), and Application (Medical & Healthcare, Defense & Security, Food & Agriculture, Industrial, Semiconductor, and Others)
At 23.1% CAGR, the South America Terahertz Technology Market is speculated to be worth US$ 68.96 Million by 2030, says Business Market Insights
According to Business Market Insights’ research, the South America terahertz technology market is expected to grow from US$ 16.10 million in 2023 to US$ 68.96 million by 2030, registering a CAGR of 23.1% from 2023 to 2030. Rising demand of terahertz technology from the defense, homeland security, and medical sectors and growing use of terahertz system in semiconductor industry are the critical factors attributed to the South America terahertz technology market expansion.
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. This is expected to drive the South America terahertz technology market during the forecast period.
On the contrary, lack of awareness and unavailability of skilled professionals hurdles the growth of South America terahertz technology market.
Based on component, the South America terahertz technology market is bifurcated into terahertz sources and terahertz detectors. The terahertz detectors segment held 93.5% market share in 2023, amassing US$ 15.06 million. It is projected to garner US$ 65.08 million by 2030 to expand at 23.3% CAGR during 2023–2030.
Based on type, the South America terahertz technology market is categorized into terahertz imaging systems, terahertz spectroscopy systems, and terahertz communication system. The terahertz imaging systems segment held 75.2% market share in 2023, amassing US$ 12.11 million. It is projected to garner US$ 49.42 million by 2030 to expand at 22.2% CAGR during 2023–2030.
Based on application, the South America terahertz technology market is categorized into medical & healthcare, defense & security, food & agriculture, industrial, semiconductor, and others. The medical & healthcare segment held 45.4% share of South America terahertz technology market in 2023, amassing US$ 7.31 million. It is projected to garner US$ 29.86 million by 2030 to expand at 22.3% CAGR during 2023–2030.
Based on country, the South America terahertz technology market has been categorized into Brazil, Argentina, and the Rest of South America. Our regional analysis states that Brazil captured 65.0% share of South America terahertz technology market in 2023. It was assessed at US$ 10.53 million in 2023 and is likely to hit US$ 44.36 million by 2030, exhibiting a CAGR of 22.8% during the forecast period.
Key players dominating the South America terahertz technology market are Advantest Corporation; HÜBNER GmbH & Co. KG; NTT Electric Co.; and Terasense Group Inc. among others.
- In April 2020, TeraSense announced its new powerful 0.8W and 1.8W wave sources at 94GHz, an IMPATT-based generator with an output power between .08 W to 1.8 W.
- In Nov 2020, interview collaborated with a Russian company to aid in museum artwork.
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