PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1554603
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1554603
The timing devices market is projected to grow from USD 5.24 billion in 2024 and is expected to reach USD 7.59 billion by 2030, growing at a CAGR of 6.4% from 2024 to 2030. The increase in the number of smartphones, tablets, wearables and other devices makes accurate timekeeping necessary for seamless communication and efficient functioning of different features and functionalities. The internal clock of a smartphone is synchronized with the network time sources by timing devices to make sure the device keeps accurate time even when moving between different time zones or network providers. Timing devices make sure that precise timing synchronization is there in cellular and wireless communication protocols so that data transfer and voice calls can be made without interruption. The use of timing devices together with global navigation satellite systems (GNSS) like GPS ensures accurate positioning and location-based functions such as navigation and location tracking.
Scope of the Report | |
---|---|
Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Million) |
Segments | By Type, Material, Vertical, and Region |
Regions covered | North America, Europe, APAC, RoW |
"The oscillators segment in the timing devices market to hold the largest market share during the forecast period."
Oscillators segment to hold the largest maket share due to the growing need for low and stable power consumption, low phase jitter and cost effectiveness. The frequency setting, audio applications and clock signal generation are some of the areas in which oscillators can be used. More so, the growth of this segment is fueled by the increasing demand for crystal oscillators with stable output that produce low noise signals for better quality in addition to a rise in demand for programmable oscillators that meet custom output specifications.
"Market for silicon in the timing devices market to witness highest growth rate during the forecast period."
Silicon is the substance that forms the basis of majority of integrated circuits utilized in present day consumer electronics. Adoption of silicon is encouraged by its economies of scale, cheapness of high-quality materials easy to obtain and capability of merging functions. Furthermore, using silicon has a number of benefits because of its physical characteristics. Its properties, such as stability, precision, and compatibility with semiconductor manufacturing processes, make it ideal for use in a wide range of timing devices, including oscillators and resonators.
"Asia Pacific is expected to hold the largest market size in the timing devices market during the forecast period."
Asia Pacific is expected to hold the largest market size in the timing devices market during the forecast period due to the escalation of fast data transfer and low latency requirements, there is an increasing need for timing devices in the China telecommunication industry. In order for communication infrastructure, such as improved or enlarged fiber optic networks, data centers and transmission equipment, to be reliable and synchronized, they need high precision timekeeping devices. One major area of industrial automation is manufacturing, power and utility systems that involve the application of automation. Timing precision is important in synchronizing manufacturing operations control systems as well as gathering information. Moreover, new automation techniques have created greater demands for timing equipment.
Prominent players profiled in this report include TXC Corporation (Taiwan), Seiko Epson Corporation (Japan), KYOCERA Corporation (Japan), NIHON DEMPA KOGYO CO., LTD., (Japan), Renesas Electronics Corporation (Japan), Rakon Limited (New Zealand), Infineon Technologies AG (Germany), Texas Instruments Incorporated (US), and Abracon (US). Microchip Technology Inc. (US), IQD Frequency Products Ltd. (UK), Vishay Intertechnology, Inc. (US), STMicroelectronics (Switzerland), SiTime Corp. (US), MtronPTI (US), CTS Corporation (US), Diodes Incorporated (US), ON Semiconductor Corporation (US), Greenray Industries, Inc. (US), Crystek Corporation (US), Frequency Electronics, Inc. (US), Oscilloquartz (Switzerland), AccuBeat Ltd. (Israel), Connor-Winfield Corporation (US), and Mercury Inc. (Taiwan) are among a few other key companies in the timing devices market.
Report Coverage
The report defines, describes, and forecasts the timing devices market based on type, material, vertical, and region. It provides detailed information regarding drivers, restraints, opportunities, and challenges influencing the growth of the timing devices market. It also analyzes competitive developments such as acquisitions, product launches, expansions, and actions carried out by the key players to grow in the market.
Reasons to Buy This Report
The report will help the market leaders/new entrants in the market with information on the closest approximations of the revenue for the overall timing devices market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insight to position their business better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, opportunities, and challenges.
opportunities (Growing need for high-precision timing and frequency stability due to network densification), and challenges (Difficulties in designing timing devices for customized applications requiring small form factors) of the timing devices market.