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| Global Crystal Oscillator Market Size |
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:
A crystal oscillator is an electronic device that uses piezoelectricity or electromagnetic
resonance properties of crystal materials to produce a signal with precise
frequency. It consists of a piezoelectric crystal connected to electronic
oscillating circuit. The crystal oscillators are used in various devices such
as computers, television, smartphones, Wi-Fi routers, video game consoles, and
others where synchronized clocks are required. Crystal oscillators offer high
frequency precision and stability as compared to other frequency control
components. It provides accurate clock timings required for synchronization of
multiple devices in electronic systems.
Market key trends:
One of the major trend fueling growth of the crystal oscillator market is
growing adoption of internet of things (IoT) across various industries. IoT
technology connects various electronic devices together through the internet.
Synchronized clocks are essential for communication between interconnected
devices. Crystal oscillators provide precise frequency signals for
synchronization of these networked devices. Moreover, increasing penetration of
4G/5G networks is expected to drive demand for crystal oscillators in
telecommunication infrastructure. Crystal oscillators are used in network
infrastructure equipment such as routers, radio base stations, amplifiers among
others. Also, the market is witnessing shift from quartz crystal oscillators to
MEMS crystal oscillators due to their smaller size, lower costs and greater
reliability. MEMS crystal oscillators do not require wire bonding or crystal
trimming as compared to quartz crystal oscillators.
Porter's Analysis
Threat of new entrants: The Global
Crystal Oscillator Market Size requires high initial investments for
setting up manufacturing facilities and R&D which makes the threat from new
entrants low. However, some new players can enter this market by acquiring
existing small players.
Bargaining power of buyers: The bargaining power of buyers is low to moderate.
This is because of the availability of crystal oscillators from multiple
manufacturers at competitive prices globally. Buyers can switch between vendors
easily based on the product specifications and pricing.
Bargaining power of suppliers: The bargaining power of suppliers is moderate.
This is because the raw materials required are specialty chemicals and parts
which have limited manufacturers globally. If the suppliers reduce the material
supply, it can impact the operations of crystal oscillator manufacturers.
Threat of new substitutes: The threat from substitutes is low as crystal
oscillators are core components in most electronic devices and systems.
Alternative options like MEMS oscillators and atomic clocks have limitations in
terms of cost, size, and frequency stability.
Competitive rivalry: The competitive rivalry is high owing to the presence of
numerous global and regional players offering a wide range of crystal
oscillator products. Players differentiate based on product performance,
accuracy, volume, reliability, and pricing.
Key Takeaways
The global crystal oscillator market is expected to witness high growth,
exhibiting CAGR of 4.0% over the
forecast period, due to increasing demand for advanced telecommunication
networks and proliferation of IoT devices.
Regional analysis
Asia Pacific dominates the global crystal oscillator market and is expected to
grow at the fastest rate during the forecast period. This is attributed to
extensive usage of crystal oscillators in industries like consumer electronics
and automotive in emerging economies like China and India. Countries like
Japan, South Korea and Taiwan also contribute significantly to the growth of
this regional market.
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. Murata Manufacturing Co. Ltd is one of the leading manufacturers
of crystal oscillators globally.
Read More: https://www.trendingwebwire.com/crystal-oscillator-market-is-estimated-to-witness-high-growth/