Infrared and Terahertz Spectroscopy Market Segments: By Spectrum (Near-Infrared Radiation (NIR), Mid-Infrared Radiation (MIR), Far-Infrared Radiation (FIR)); By Technology (Benchtop, Microscopy, Portable & Handheld, Hyphenated); By Application (Semiconductors, Homeland Security, Non-Destructive Testing, Research & Development Biomedical);By End User (Pharmaceuticals & Biotechnology, Industrial Chemistry, Food & Beverage Testing, Environmental Testing and Other); and Region - Global Analysis of Market Size, Share & Trends for 2014 - 2020 and Forecasts to 2030
[ 170 + Pages Research Report ] Infrared and Terahertz Spectroscopy Market to surpass USD 4.67 billion by 2030 from USD 0.63 billion in 2020 at a CAGR of 21.10% in the coming years, i.e., 2020-30.
Measurement of the interaction of infrared radiation with matter by emission, absorption, or reflection is known as Infrared spectroscopy. It is primarily used to identify and study functional groups and chemical substances in solid, liquid, or gaseous forms. It is a reliable and simple technique used in dynamic measurement, quantity control, and supervising applications. Infrared Spectroscopy is also utilized in the food industry to measure the concentration of several compounds in different food products. Terahertz spectroscopy measures and monitors the properties of matter with electromagnetic fields between a few hundred gigahertz and several terahertz in the frequency range. For spectroscopy, terahertz frequencies are useful in various fields, such as superconductor investigation, plasmonic effects in conducting materials, and molecular rotational states.
Global Infrared and Terahertz Spectroscopy Market to surpass USD 4.67 billion by 2030 from USD 0.63 billion in 2020 at a CAGR of 21.10% in the coming years, i.e., 2020-30. The market is estimated to grow owing to the factors such as strict regulations in the pharmaceutical industry, increasing concerns regarding food safety, and an increase in the investments, grants, and funds by the government bodies. In addition, technological advances and increasing innovation regarding safety concerns in the airport, baggage screening, food inspection, and rising cancer cases are important factors contributing to the market growth.
In September 2018, SEA Vision introduced its near-infrared hyperspectral view (NIR) scheme, HarleNIR. Depending on its Harlequin blister control system, HarleNIR is a fresh generation blister test technology that passes beyond noticeable testing and offers the chemical analysis of drug products. Harley can check the full shipment on the production line in a fully operational manner, remove human error, and speed up sample release time. With this start business, test techniques can be improved.
In May 2018, IRsweep launched the second-generation Mid-IR frequency comb spectrometer at Analytica. The benchtop unit is 60 cm long and not as large as the first room-saving model. The mid-IR spectrometer IRisF1 Dual-Combdisplays interchangeable transmitters, microsecond moment accuracy, and multi-color performance. The application in which elevated time accuracy, visibility, or throughput is required, such as evaluation and tracking of rapid responses in biological samples and chemical composition.
Mid-Infrared Radiation segment to grow with the highest CAGR during 2020-30
Global Infrared and Terahertz Spectroscopy Market are segmented by Spectrum into Near-Infrared Radiation (NIR), Mid-Infrared Radiation (MIR), Far-Infrared Radiation (FIR). The mid-Infrared Radiation segment held the largest market share of XX.X% in the year 2019. The wide utilization of mid-infrared radiation in healthcare and pharmaceutical applications and the food, industry is driving the growth of this segment.
Semiconductors segment to grow with the highest CAGR during 2020-30
Global Infrared and Terahertz Spectroscopy Market are divided by Application into Semiconductors, Homeland Security, Non-Destructive Testing, Research & Development Biomedical. The automotive segment held the largest market share of XX.X% in the year 2019 and will continue to dominate the market in the coming years. Semiconductor laser can penetrate common packaging materials such as fabric, plastic, and cardboard and is also used in optical sensing and analysis of a wide variety of chemicals thereby driving its market growth.
Rising semiconductor Sector
Terahertz spectroscopy is commonly used to detect faults in circuits and to develop and analyze semiconductor materials. The ability to detect and measure charge carriers is expected to establish avenues for semiconductors to use the terahertz technology. In recent years advanced terahertz spectrometers have allowed non-destructive, rapid isolation of semiconductors. In addition, infrared spectroscopy is employed in the field of semiconductor microelectronics such as gallium arsenide, zinc selenide, silicon, silicon nitride, and others. All these factors are expected to boost the growth of the market in the coming years.
Increasing applications of terahertz spectroscopy in security screening systems
Airports are now using terahertz imaging technology for defense with the growing amount of violence worldwide. It is also used in luggage scanning and image scanning, which is an important reason for its growth in the industry. It is also intended to inspect flat items, such as envelopes, letters, and small packages. In terms of accessibility, safety and detection infrared spectroscopy represent a new approach to mail screening.
High prices of equipment
Infrared and Terahertz Spectroscopy Market devices are equipped with cameras, detectors, and scanners which increases their cost. They have advanced features and functions, hence, are costly. The devices used for industrial applications such as semiconductors and non-destructive testing have high prices. As an industrial application is one of the significant markets for terahertz spectroscopy, the high cost of equipment impedes the purchases of these devices which may affect the market growth.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Infrared and Terahertz Spectroscopy Market are segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Global Infrared and Terahertz Spectroscopy Market in North America held the largest market share of XX.X% in the year 2019. North America will continue to dominate the global Infrared and Terahertz Spectroscopy Market because of technological growth, strengthened industrial infrastructure, the presence of key players, and a higher rate of new technology adoption.
Global Infrared and Terahertz Spectroscopy Market are further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Infrared and Terahertz Spectroscopy Market Segments:
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