by 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 refers to an electronic circuit that uses the mechanical resonance of a vibrating crystal of piezoelectric material to create an electrical signal with a precise frequency. The crystal oscillates at a constant frequency that depends on its cut and thickness determining the resonant frequency. Crystal oscillators are mainly used for timekeeping and are commonly found in watches and clocks. They are also used in modern computers and communication infrastructure as a timing standard for generating stable system clock signals. Crystal oscillators are replacing ceramic resonators in many timing applications due to their higher stability and precision over a wide range of operating conditions.
Market key trends:
One of the key trends driving the growth of Global Crystal Oscillator Market Size is miniaturization of electronic devices. The demand for small and compact circuitry has led to continuous size reduction of crystal oscillators. This has prompted manufacturers to develop extremely small surface mount device (SMD) and chip scale package (CSP) oscillators that consume very little board space. Furthermore, the widespread adoption of technologies like 5G networks and IoT has increased the need for large quantity of tiny, low-cost timing solutions. Miniaturized crystal oscillators are well-suited for applications involving densely packed circuit boards with multiple timing sources. The increasing preference for mini and micro crystal oscillators from various end-use industries like telecommunications, automotive, and consumer electronics is expected to boost the crystal oscillator market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the crystal oscillator market requires high initial investments and technical expertise. However, the availability of low-cost components from Asian countries has reduced entry barriers to some extent.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes and undifferentiated products. However, buyers prefer dealing with reputed vendors owing to quality and reliability requirements.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to the fragmented nature of raw material supply sources. However, suppliers of certain components hold strategic importance.
Threat of new substitutes: The threat of substitutes is moderate to high due to the emergence of MEMS timing solutions as chip-scale alternatives.
Competitive rivalry: The competitive rivalry is high due to established vendors competing on pricing, quality, and innovation.
SWOT Analysis
Strengths: Established vendors with economies of scale and technical expertise. Wide range of application areas across various industries boosts demand.
Weaknesses: Commoditization of standard products increases pricing pressure. High R&D investment needed for new product development.
Opportunities: Growth of IoT and industrial automation sectors to drive volume demand. Transition to high-frequency solutions for 5G networks and Wi-Fi 6 presents opportunities.
Threats: Short product life cycles due to technological shifts. Intense price competition from low-cost Asian suppliers. Susceptibility to business cycles across end-use verticals.
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 frequency control devices across various application areas. The market size for crystal oscillators was valued at US$ 2252.43 Mn in 2023 and is projected to reach US$ 3012.23 Mn by 2030.
Regional analysis – Asia Pacific dominates the global crystal oscillator market and is expected to grow at the fastest rate during the forecast period. The presence of leading vendors and electronic manufacturing hubs in countries such as China, Japan, South Korea, and Taiwan drives the regional market.
Key players analysis – 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 leaders are focused on developing innovative and miniaturized timing solutions to expand market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
