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Terahertz Technology Market Valuation to Exceed $1.84 Billion by 2028

By Don Bishop

According to an Insight Partners market study, “Terahertz Technology Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Type, Application, and Geography,” the terahertz technology market is projected to reach $1.84 billion by 2028, rising from $321 million in 2021. The market is expected to grow at a compound annual growth rate CAGR of 28.3 percent from 2021 to 2028, the research company said.

Terahertz Technology Market: Competitive Landscape and Key Developments

Acal BFi UK, Advanced Photonix, Advantest, Hübner & Co., Luna Innovations, Menlo Systems, Microtech Instrument, Terasense Group, TeraView and Toptica Photonics are among the companies profiled in the market study. In addition, several others were studied and analyzed to obtain a holistic view of the global terahertz technology market and its ecosystem.

“Terahertz transmission is a complimentary wireless technology that has emerged as a potential option for communication networks in the 6G future,” a statement from Insight Partners reads. “Users in rural or distant areas that are difficult to reach (e.g., mountains, islands) should be linked with high data rates of up to 10 Gbps per user in the future. Terahertz transmission as a wireless backhaul extension of optical fibers will be a critical building component in meeting this issue and ensuring high-speed internet access beyond 5G.”

Furthermore, Insight Partners said, the growing number of mobile and fixed users in the private sector and industry and the service sector would need hundreds of gigabits per second in transmission to or between cell towers (backhaul) or between cell towers and remote radio heads (fronthaul).

“Terahertz wireless communication can also be practical in these situations,” the statement reads. “Terahertz communications are also intended to enable seamless connectivity between ultra-high-speed cable networks, such as fiber-optic lines, and personal wireless devices, such as laptops and tablet-like devices, resulting in total transparency and rate convergence between wireless and wired links. Terahertz communications will make it easier for static and mobile users to run bandwidth-intensive apps, primarily indoor and local access settings. Two examples of specialized uses are high-definition holographic video conferencing (virtual reality office) and ultra-high-speed wireless data dissemination in data centers.”

Additionally, Insight Partners said, the Institute of Electrical and Electronics Engineers 802.15 has created a Terahertz Interest Group. The Terahertz Interest Group focused on terahertz communications and other associated network applications performing in terahertz frequency bands between 275 GHz and 3,000 GHz, the company said. It also said that with the development of a more significant number of transceiver technologies, 802.15 has made a step for the new standard with a scope of defining validity of a standard on 100 G. In addition, Insight Partners said, the FCC made available experimental 6G wireless communications spectrum licenses in 2019. The band, which spans 95 GHz to 3 THz, will be available for testing. Insight Partners said the FCC would provide inventors a 10-year license to test innovative 6G devices and services under its regulations.

“The terahertz technology applies to various domains that provide unprecedented capabilities for many research fields,” the statement reads. “The terahertz technology can benefit information and communication technology (ICT) sector as it has significant applications in wireless communications, high-speed data processing, and satellite communications. Satellites are widely used in various communication applications. In the past few years, the interest in the field of satellite networks has increased, which allows for an entirely new class of navigation, communication and remote sensing missions. This has, consequently, led to a need for innovative methodologies to meet the increasing demand for high-speed wireless connection.”

Terahertz band communication is conceived as the key technology in meeting the need for high data rates, according to Insight Partners. It said that wireless terabit per second links are expected to become a reality soon, because of the broad availability of bandwidth at the terahertz band.

“Terahertz waves are characterized by a wide frequency band, high speed, small scattering, high penetrability, good directionality, high safety, and so on,” the Insight Partners statement reads. “They serve as another frequency band of communication between microwave communication and laser communication. Besides, recent advancements in the terahertz technology — such as electronic approach III-V semiconductor technologies and optical Quantum Cascade Lasers — allow frequency generation from 0.34 THz to 1 THz with power from 1 milliwattt to 10 milliwats. Thus, the use of terahertz technology in satellite communication is expected to emerge as one of the significant trends boosting the market growth during the forecast period.”

Terahertz Technology Market: Component Overview

Based on component, the global terahertz technology market is segmented into terahertz sources and terahertz detectors, Insight Partners said. It said that terahertz sources are categorized as follows: photonic and electronic sources.

“Solid-state and electron-beam sources as well as frequency multipliers are broadly utilized terahertz electronic sources,” Insight Partners said. “However, the terahertz QCLs and terahertz photoconductive antennas are the most commonly used terahertz photonic sources. The development of terahertz photoconductive antennas has led to enhancement in the performance of this technology, in the form of maximum output powers and optical-to-electrical efficiencies at the frequencies above 1 THz. Further, the miniaturized electron-beam sources have been designed and developed, while the performance of frequency multipliers and solid-state sources has been progressively improved by increasing their power efficiencies and upper frequency limits. Also, terahertz quantum-cascade lasers (QCLs) are also undergoing rapid developments from the last few years.”

Insight Partners said it invites inquiries about the report to be sent to [email protected].

Don Bishop is executive editor and associate publisher of AGL Magazine.