A recent study initiated by the European Space Agency aimed at identifying the most promising technologies to significantly improve on the generation of coherent electromagnetic radiation in the THz regime. The desired improvements include, amongst others, higher output powers and efficiencies at increasingly higher frequencies, wider tunability and miniaturization. The baseline technologies considered revolve around Photomixing and novel laser based technologies compared to all electronic techniques. Some of the most significant findings will be presented together with technological developments and experimental results selected for medium to short term development. These technologies include advanced p-i-n photomixer with superlattice structures and, THz quantum cascade lasers. Recent results achieved in these fields will be put into the potential perspective for the respective technology in the future.