The precision crystal oscillator market has witnessed strong growth over the past few years owing to the wide use of crystal oscillators in various electronic devices and telecommunication applications. Crystal oscillators find extensive applications in telecommunication devices and networks to generate accurate clock signals essential for the timing and synchronization of digital systems. The steady growth of the telecommunication industry along with rising adoption of 4G/5G technologies has significantly driven the demand for precision crystal oscillators worldwide.
A precision crystal oscillator is a crystal oscillator circuit that uses a piezoelectric crystal resonator to produce an electrical signal of very precise frequency. It has application in various electronic devices such as computers, smartphones, industrial equipment, networking systems, GPS devices and telecom networking infrastructure among others. Precision crystal oscillators are recognized for their high accuracy, stability, and reproducibility even under extreme environmental conditions. The oscillators generate precise frequency signals within parts per million (ppm) that are crucial for various devices and applications requiring precise timing and synchronization. The rising proliferation of consumer electronics, growing deployment of networking infrastructure and increasing adoption of IoT-based solutions are augmenting the market growth. Global precision crystal oscillator market is estimated to be valued at US$ 2594.8 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the precision Global Crystal Oscillator Market Demand are Biffa Plc, Clean Harbors, Inc., Covanta Holding Corporation, Daiseki Co., Ltd, Hitachi Zosen Corporation, Remondis Se & Co. Kg, Republic Services, Inc., Suez, Veolia Environment, and Waste Management Inc. The growing demand for consumer electronics such as smartphones, tablets, laptops has augmented the use of precision crystal oscillators. Rapid deployment of 4G/5G networks around the world is a key factor fueling the growth of the precision oscillator market. Technological advancements such as emergence of MEMS-based crystal oscillators and integrated crystal oscillators have expanded application scope of precision oscillators.
Market Trends
One of the key trends in the precision crystal oscillator market is the growing popularity of MEMS-based crystal oscillators. These tiny oscillators have several advantages such as small size, lower power consumption, wider operating temperature range and higher shock resistance making them ideal for portable electronic devices. Another trend gaining ground is the emergence of integrated crystal oscillators offering high frequency accuracy while being embedded inside an IC chip. Such innovative products are well-suited for miniature IoT sensors and wireless communication devices driving their adoption.
Market Opportunities
One major opportunity for precision crystal oscillator market is the steady expansion of IoT ecosystem. The proliferation of connected devices across industries is propelling the requirement for precise timing signals from oscillators. Rising 5G deployments and upcoming technologies like 5G mmWave also present an opportunity as they demand significantly stable and accurate frequency sources for seamless connectivity. The development of advanced miniature oscillators well-suited for tiny IoT sensors also provides an opportunity for further market expansion.
Impact of COVID-19 on Crystal Oscillator Market
The COVID-19 pandemic significantly impacted the crystal oscillator market. During the initial lockdown phase, production facilities were shut down impacting the supply of crystal oscillators. This led to disruptions in the supply chain and shortage of these oscillators across industries like telecommunications, automotive, industrial, consumer electronics, and military and aerospace. The demand from end use industries also reduced significantly during this period due to slowing economic activities. However, as lockdowns eased, production resumed with safety protocols in place. The demand started recovering from industries involved in essential services like healthcare, online communications and renewable energy. Governments across regions also announced stimulus packages focusing on industries like semiconductors to bolster the impacted economies.
The crystal oscillator market is concentrated in North America and Asia Pacific region. North America accounted for the highest share in value terms owing to presence of major crystal oscillator manufacturers and its usage across diverse industries. However, Asia Pacific is projected to be the fastest growing region during the forecast period. This is attributed to increasing investments by governments in countries like China, India and South Korea to develop domestic manufacturing capabilities for electronics and semiconductor industries. Countries are also aiming to reduce dependence on imports and boost local production of such critical components.
Geographical Regions Impacted
The crystal oscillator market in North America witnessed a significant negative impact initially due to production halt and fall in demand from end use industries. Countries like the US, which has presence of leading crystal oscillator companies and their use across industries, reported sharp decline in sales. However, the recovery was faster compared to other regions led by support from government stimulus programs.
Asia Pacific region experienced disproportionate impact with China being worst affected in initial months. Being the world’s manufacturing hub, lockdowns led to large scale disruptions. Countries like India were also impacted severely. However, the overall recovery has been rapid in Asia Pacific compared to other regions. This is due to resumption of manufacturing activities in China at a swift pace and incentives by regional governments to revive crucial industries.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it