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Rising Adoption of IoT Technology to Boost Growth of the Crystal Oscillator Market

Gauri Cmi
Rising Adoption of IoT Technology to Boost Growth of the Crystal Oscillator Market

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/

Gauri Cmi
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