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The increasing demand of unoccupied and unregulated bandwidth for wireless communication systems will inevitably lead to the extension of operation frequencies toward the lower THz frequency range. Higher carrier frequencies will allow for fast transmission of huge amounts of data as needed for new emerging applications. Despite the tremendous hurdles that have to be overcome with regard to sources and detectors, circuit and antenna technology and system architecture to realize ultrafast data transmission in a scenario with extensive transmission loss, a new area of research is beginning to form. In this article we give an overview of emerging technologies and system research that might lead to ubiquitous THz communication systems in the future.