July 17, 2024
Crystal Oscillator Market

The rising adoption of IoT devices is anticipated to openup the new avenue for Crystal Oscillator Market

Market Overview:

Crystal oscillators are elements incorporated into electronic devices that generate electric signals of precise frequencies. They are often used as clock sources, clock multipliers or frame synchronizers in various communication and instrumentation devices. They find widespread applications across end use verticals such as telecommunications industry, consumer electronics, automotive, medical devices and industrial equipment owing to their ability to maintain precise frequencies over long durations of time.

The 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 Dynamics:

The growth of the crystal oscillator market is driven by factors such as increasing adoption of IoT devices and proliferation of wireless communication technologies. IoT is connecting billions of smart devices across the world which require precise clock signals provided by crystal oscillators for communication and synchronization purposes. According to estimates, there will be over 25 billion devices connected via IoT globally by 2025. Further, continual advancements in wireless communication technologies such as 5G networks, LTE, WiFi 6 etc have increased the demand for frequency control components like crystal oscillators in base stations and portable devices. Additionally, expansion of automotive electronics in vehicles is also boosting adoption of crystal oscillators in applications such as ADAS, telematics, infotainment and engine control units.

Segment Analysis

The crystal oscillator market can be segmented into voltage-controlled crystal oscillator (VCXO), temperature-compensated crystal oscillator (TCXO), frequency-locked loop (FLL) crystal oscillator, and others. Among these, the TCXO dominating segment as it offers better stability and accuracy compared to other segments. It keeps the output frequency constant despite temperature fluctuations thereby making it suitable for various applications including telecommunications infrastructure, networking and computing equipment, mobile devices, and industrial instrumentation among others.

PEST Analysis

Political: Trade war between the US and China, and policy support and restrictions by governments impact demand dynamics.
Economic: Changes in GDP growth, disposable income levels influence consumer spending and investments in oscillar-dependent industries like telecom and electronics.
Social: Growth in mobile device penetration, automation, and migration to 5G networks drive demand from consumer electronics and telecommunication sectors.
Technological: Emergence of IoT, Industry 4.0, connected devices, automation, 5G deployment aid growth opportunities for frequency control and timing applications.

Key Takeaways

The Global Crystal Oscillator Market Size was valued at US$ 2252.43 Mn in 2023 and is expected to reach US$ 3879.67 Mn by 2030, expanding at a CAGR of 4.0% during the forecast period. Rising adoption of crystal oscillators in automotive electronics, smartphones, computing devices, networking infrastructure, and various other electronic products is driving the market.

Regional analysis shows that Asia Pacific dominates the global market and is projected to witness the highest growth during the forecast period owing to a large consumer base, growing electronics industry, and rapid adoption of new technologies like 5G and IoT in countries like China, India, Japan, and South Korea.

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. These players are focusing on new product launches, partnerships, and mergers & acquisitions to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it