Consumer Electronics Sector Is The Largest Segment Driving The Growth Of Crystal Oscillator Market
The global Crystal Oscillator Market is estimated to be valued at US$ 2252.43 Mn or Mn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Crystal oscillators are foundational electronic components that generate precise and stable reference frequencies for numerous electronic devices and systems. They consist of a quartz crystal bonded between two electrodes that accurately vibrates at a resonant frequency determined by the crystal’s physical dimensions and material composition. This resonant frequency serves as a highly accurate timing reference essential for numerous applications in electronics.
Market key trends:
One of the key trends driving the growth of the crystal oscillator market is the proliferation of IoT devices and increasing penetration of wireless communications technology. This creates significant demand for quartz crystal oscillators that offer timing reference signals needed for wireless standards like 3G/4G/5G networks, Wi-Fi, Bluetooth and various cellular communications protocols. The emergence of advanced wireless technologies like 5G that enable high-speed data transmission and low-latency applications will further ramp up requirements for highly precise and stable oscillator solutions in the coming years.
Market key trends:
One of the key trends in the Global Crystal Oscillator Market Size is the growth in demand for high-frequency crystal oscillators. With the proliferation of 5G networks and advanced technologies such as IoT, industrial automation, autonomous vehicles etc., there is an increasing need for high-frequency crystal oscillators that can operate within higher frequency bands. Conventional crystal oscillators that operate below 200 MHz are slowly being replaced by high-frequency variants ranging from 500 MHz to 1500 MHz. The rising adoption of 5G technologies which utilizes spectrums in the millimeter-wave bands is a major driver for high-frequency crystal oscillators.
SWOT Analysis
Strength: Crystal oscillators are very stable and accurate time-keeping components. They offer precision frequency control even under extreme environmental conditions.
Weakness: Crystal oscillators cannot be changed or tuned once manufactured. This reduces flexibility. They are also more expensive than ceramic resonators or MEMS oscillators.
Opportunity: Growing demand for high-frequency crystal oscillators from emerging technologies such as 5G, IoT, and automotive presents major opportunities.
Threats: Availability of cheaper alternatives such as ceramic resonators and MEMS oscillators poses a threat. Advances in integrated circuits can replace crystal oscillators in some applications.
Key Takeaways
The global Crystal Oscillator Market is expected to witness high growth, exhibiting CAGR of 4.0% over the forecast period of 2023 to 2030, due to increasing demand for frequency control components from rapidly expanding end-use industries of telecommunication and automotive.
The Asia Pacific region is expected to dominate the global Crystal Oscillator Market during the forecast period. Countries such as China, Taiwan, and India are leading consumer electronics producers and have a large presence of automotive OEMs. This makes Asia Pacific an attractive market for crystal oscillators.
Regional analysis: North America region is also expected to grow at a significant rate owing to high adoption of 4G/LTE networks in the region along with upcoming 5G infrastructure deployment plans.
Key players operating in the Crystal Oscillator Market are Murata Manufacturing Co. Ltd, Vectron International Inc., Siward Crystal Technology Co. Ltd, Kyocera Corporation, Nihon Dempa Kogyo (NDK) Co. Ltd, Seiko Epson Corp., Daishinku Corp., Hosonic Electronic Co. Ltd, TXC Corporation, Rakon Ltd and SiTime Corporation.
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