LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global terahertz power meters market to grow at a CAGR of almost 27% during the period 2018-2022, according to their latest report.
This market research report segments the global terahertz power meters market into the following applications (commercial and government) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
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In this report, Technavio analysts highlight the rapid data explosion in networks as a key factor contributing to the growth of the global terahertz power meters market:
Rapid data explosion in networks
Terahertz technology is used to increase the data speed and allow the quick transfer of information. The enterprise data is generated from various sources such as web applications, social networks, cloud computing, and mobile computing. The growing adoption of cloud computing and cloud-based applications has led to an increase in the volume of digital content that is being transmitted across the networks.
Huge data blocks require quick and high-performance computing and a large storage space. Complex computations that must be performed on large data blocks and the dynamic storage and retrieval of the data from the storage space are increasing the demand for in-memory computing. Thus, big data must be accessible to end-users, and efficient computing must be performed to derive desired conclusions.
According to a senior analyst at Technavio for semiconductor equipment, “Organizations require big data analytics and solutions to track the high volume of big data that is generated and to use it efficiently. It is not feasible to manually analyze such high volumes of data. Therefore, big data analytics allows enterprises to optimize their business decisions and innovate new business models, products, and services.”
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Global terahertz power meters market segmentation
Of the two major applications, the commercial segment held the largest market share in 2017, accounting for more than 57% of the market. This segment will continue to dominate the market during the forecast period.
The Americas was the leading region for the global terahertz power meters market in 2017. It was followed by EMEA and APAC. The market share of the Americas is expected to decrease during the forecast period. However, APAC is anticipated to witness tremendous growth during this period.
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