by The global Crystal Oscillator Market is estimated to be valued at US$ 2252.43 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 produce electrical signals of precise frequencies and are essential timing devices used in almost all electronic devices. They provide stable and accurate frequency control for many electronic circuits and subsystems and are used in telecom infrastructure, computers, automotive, military, aerospace and industrial applications.
Market key trends:
One of the key trends propelling the growth of the crystal oscillator market is its increasing demand from the expanding Internet of Things (IoT)industry. IoT devices rely on quartz crystal oscillators for precise timing functions. With the massive proliferation of connected devices across industries, demand for crystal oscillators from the IoT ecosystem is expected to grow significantly over the forecast period. IoT solutions need ultra-stable timing solutions for seamless connectivity of numerous nodes in a network and crystal oscillators are well-suited to fulfil this need.
Segment Analysis
Crystal Oscillator Market is segmented by general purpose, temperature compensated and oven controlled crystal oscillator segments. Among these, the general purpose crystal oscillator segment dominated the market in 2022 accounting for around 55% share. This is because general purpose crystal oscillators are widely used in various electronic devices owing to low manufacturing cost and optimized space utilization.
Key Takeaways
The Global Crystal Oscillator Market Size is expected to witness high growth, exhibiting CAGR of 4.0% over the forecast period, due to increasing demand for low power crystal oscillators from the consumer electronic devices industry.
Regional analysis
Asia Pacific region dominated the crystal oscillator market in 2022 and is expected to continue its dominance during the forecast period. This is attributed to rising electronic manufacturing industries and presence of key players in countries like China and Japan. North America is projected to grow at a significant rate over the forecast period due to growing telecommunication infrastructure development projects across the US and Canada.
Key players
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
