The terahertz spectroscopy market is poised to reach USD 52.5 Million by 2020, growing at a CAGR of 21.3%, whereas the infrared spectroscopy market is poised to reach USD 1.25 Billion by 2020, growing at a CAGR of 6.9%, during the forecast period of 2015 to 2020. The growth of the overall terahertz and infrared spectroscopy market can be contributed to rising investments, funds, and grants by government bodies worldwide, the growth of the semiconductor industry, and technological advancements. In addition, growing food safety concerns and stringent regulations have contributed to market growth. In the coming years, the terahertz and infrared spectroscopy market is expected to witness the highest growth rate in the Asia-Pacific region. North America is expected to account for the largest share of the global terahertz and infrared spectroscopy market. However, the high cost of equipment is likely to restrain the growth of the market during the forecast period.
The report segments the terahertz spectroscopy market based on application. The semiconductor segment is expected to account for the largest share of the THz spectroscopy market, by application, in 2015 and grow at the highest CAGR.
Major players in the terahertz spectroscopy market include TeraView, Ltd. (U.S.), Menlo Systems GmbH (Germany), Toptica Photonix AG (Germany), Advanced Photonix, Inc. (U.S.), and Advantest Corporation (Japan).
Similarly, the report segments the THz spectroscopy market based on spectrum, technology, and applications. The mid-infrared spectroscopy segment is expected to account for the largest share of the THz spectroscopy market, by spectrum, in 2015, while the far-infrared segment is expected to grow at the highest CAGR. In addition, the benchtop segment is expected to account for the largest share of the infrared spectroscopy market, by technology, in 2015, while the portable & handheld is expected to grow at the highest CAGR.
This research report categorizes the terahertz and infrared spectroscopy market into the following segments:
- Terahertz Spectroscopy Market, by Application
- Semiconductor
- R&D (Pharmaceutical and Biomedical)
- Homeland Security
- Non-destructive testing
- Infrared Spectroscopy Market, by Application
- Pharmaceuticals & Biotechnology
- Industrial Chemistry
- Environmental Testing
- Food & Beverage Testing
- Others (Academia, forensic laboratories, biomonitoring, and agriculture)
Infrared Spectroscopy Market, by Technology
- Benchtop
- Microscopy
- Portable & Handheld
- Hyphenated
Infrared Spectroscopy Market, by Spectrum
- Near-infrared
- Mid-infrared
- Far-infrared
Terahertz and Infrared Spectroscopy Market, by Region
- North America
- U.S.
- Canada
- Europe
- Asia-Pacific
- Rest of the World (RoW)
Stakeholders of the Terahertz and Infrared SpectroscopyMarket
- Manufacturers
- Suppliers/Distributors
- Pharmaceutical Companies
- Semiconductor Companies
- Biotechnology Companies
- Academic Centers
- Research Institutes
- Venture Capitalists
