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 Overview:
A crystal oscillator is a circuit that uses the mechanical resonance of a vibrating crystal of piezoelectric material to create an electrical signal with a very precise frequency. This makes crystal oscillators popular for use in many types of electronic devices where a reliable and precise clock signal or frequency reference is required. They have widespread applications in computing devices, communication infrastructure, medical devices and more.
Market Dynamics:
The crystal oscillator market is expected to witness significant growth due to rising adoption of IoT and 5G technology. IoT devices require precise and reliable timing solutions for their operation and communication with other devices on the network. As the number of connected IoT devices continues increasing globally, it is driving demand for accurate and affordable timing solutions like crystal oscillators. Similarly, widespread rollout of 5G networks also bodes well for crystal oscillator market as it requires highly stable frequency sources like crystal oscillators for establishing reliable ultra-low latency communication. Additionally, growing demand for portable consumer electronics like wearables, smartphones and tablets are fueling market growth as crystal oscillators are widely used in these devices. Manufacturers are continuously innovating oscillator design to cater to requirements of emerging technologies which is further supporting market expansion.
SWOT Analysis
Strength: Crystal oscillator is a key component in various electronic devices due to its reliability and stability. They provide precision timekeeping which is crucial for the functioning of many devices. The manufacturing process of crystal oscillators is well-established globally.
Weakness: Higher costs are associated with producing high-end crystal oscillators with better accuracy and stability. Organic materials used in crystal oscillators have a limited life span and may deteriorate over time.
Opportunity: Growth of IoT and connected devices offer significant opportunities for crystal oscillator market. Widespread adoption of 5G network infrastructure will boost the demand for high-frequency oscillators.
Threats: Emergence of low-cost MEMS oscillators pose threat to crystal oscillators market. Quartz shortage is also a challenge for sustaining quartz crystal oscillator production.
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 adoption of IoT devices. Growing 5G infrastructure worldwide will also drive the market growth.
Regional analysis – Asia Pacific dominates the global crystal oscillator market and is expected to grow at the fastest rate during the forecast period. Countries like China, Japan, South Korea, and India are major markets for crystal oscillators. North America and Europe hold a significant share as well.
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 and capacity expansion 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