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The Global Crystal Oscillator Market Growth Is Poised To Accelerated By Miniaturization

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Sumedha
The Global Crystal Oscillator Market Growth Is Poised To Accelerated By Miniaturization

Crystal oscillators are electronic devices that use piezoelectric crystals to produce electric signals of a precise frequency. They are use in various electronic devices to function as internal clock generators and frequency references. The growth of consumer electronics industry has led to a surge in the demand for crystal oscillators which are an integral component in electronics such as smartphones, laptops, smart TVs etc. The crystal oscillator helps in synchronizing internal components and circuits of electronic devices through a stabilized frequency reference.

The global crystal oscillator market is estimated to be valued at US$ 2594.8 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

 

Market Opportunity

Introduction of 5G technology offers high growth potential


The rollout of 5G technology has augmented the demand for crystal oscillators. The fifth generation networks require complex infrastructure with higher operating frequencies ranging from 30 GHz to 300 GHz which can only be achieved through stable and precise frequency sources like crystal oscillators. Moreover, 5G technology enables capabilities like network slicing which divides the network into multiple virtual networks optimized for different uses. This requires a higher number of oscillators in routers, modems and base stations to independently handle network slices. The increasing adoption of 5G globally is thus estimated to drive the demand for crystal oscillators from 2024 to 2031, presenting lucrative opportunities for crystal oscillator manufacturers.


Porter's Analysis


Threat of new entrants: Low capital requirements and established brands lower barriers to entry but economies of scale and absolute cost advantages favor incumbents.


Bargaining power of buyers: Large buyers have significant bargaining power due to the availability of substitutes and their ability to play suppliers against each other.


Bargaining power of suppliers: A few large crystal oscillator manufacturers exist with proprietary technologies and know-how raising dependence of buyers.


Threat of new substitutes: emergence of MEMS timing solutions poses threat to crystal oscillators but latter have advantages of robustness and cost-effectiveness for many applications.


Competitive rivalry: Intense competition exists among key players due to their global presence and focus on R&D to gain technological leadership.


SWOT Analysis


Strengths: Established technology, cost-effectiveness, robustness and reliability of crystal oscillators expand their usage in electronic devices and industrial equipment.


Weaknesses: Susceptibility to environmental factors, size limitations and aging effects hamper performance over time requiring periodic replacement. Higher prices of ultra-stable oscillators limit their adoption.


Opportunities: Growth of IoT, automation, and 5G networks present new areas of integration for timing solutions. Adoption in automotive, med-tech and other specialized verticals also rising.


Threats: Commoditization is reducing profit margins. Trade tensions and restrictions impact global supply chains of large multinational suppliers.


Key Takeaways


The Global Crystal Oscillator Market Size is expected to witness high growth over the forecast period supported by the rapid proliferation of connected devices and adoption of new wireless technologies. Increased usage of electronics in automotive, industrial equipment and wearables will continue augmenting demand. The global Crystal Oscillator Market is estimated to be valued at US$ 2594.8 Million in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.


Regional analysis indicates Asia Pacific dominates currently accounting for over 40% share due to presence of large consumer electronics and devices manufacturing bases in China, Taiwan, South Korea and other Asian countries. Growth in the region is projected to remain higher than global average led by widening applications and a burgeoning middle class increasing device affordability.


Key players operating in the crystal oscillator market 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. Players are investing in developing ultra-stable and miniaturized oscillators, integrating them with other timing ICs and focusing on diversifying the end-uses to extend their market reach. Intensifying competition can raise pressure on pricing.


Get More Insights Here

https://www.trendingwebwire.com/crystal-oscillator-market-size-share-growth-outlook-2023/


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