Timing Devices Market revenue to cross USD 14.94 Billion by 2035, says Research Nester

Key timing devices market players include TXC Corporation, Kyocera Corporation, Murata Manufacturing Co., Ltd, Daishinku Corporation (KDS), and SiTime.

New York , Oct. 25, 2023 (GLOBE NEWSWIRE) -- The global timing devices market size is predicted to grow at a CAGR of over 9.7% from 2022 to 2035. The market is projected to garner a revenue of USD 14.94 billion by the end of 2035, up from a revenue of USD 4.51 billion in the year 2022. The market is driven by the increasing demand for precise and reliable timing solutions across a wide range of industries. Factors contributing to the growth of this market include the proliferation of smartphones, the development of 5G technology, the rise of IoT (Internet of Things) devices, and the need for precise timing in financial services, among other sectors. Additionally, as technology continues to advance, there is an ongoing need for smaller, more power-efficient timing devices that can operate in various environmental conditions.

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Manufacturers in the timing devices market continue to innovate to meet these demands and develop solutions that can provide better performance and meet the requirements of emerging technologies. The market is further driven by the growing adoption of medical wearables. Wearables that are especially used for insulin pumps, drug delivery, and other pain relief doses highly use timing devices to help patients stay on track and follow the medication schedules. In addition to these, the timing devices market is expected to expand on account of the growing adoption of wireless technologies, such as Bluetooth, Wi-Fi, and NFC. Timing devices are used for seamless communication through wireless transmission and reception.

Timing Devices Market: Key Takeaways

  • Market in Asia Pacific to propel highest growth
  • The silicon segment to garner the highest growth
  • Market in North America to grow at the highest rate

Increasing Demand for Mobile Devices across the Globe to Boost Market Growth

Consumption of mobile devices is increasing as a result of the ongoing advancement of technology and the rise in consumer per capita income. Mobile devices typically use three to four timing devices, whereas smartphones typically use six to eight. Microwave oscillators are currently employed by cell phones, tablets with Wi-Fi capabilities, and other electronic devices to produce the electrical signals required for communication. According to the most recent figures, there are currently 5.48 billion distinct mobile phone subscribers worldwide. The expansion of the automobile industry has led to an enormous increase in creative timing device applications, which supports the expansion of the timing devices market. The primary use of timing devices in the automotive sector is in, in-vehicle audiovisual equipment, premium audio systems, car navigation systems, advanced driver assistance systems, infotainment systems, safety control systems, and driving control systems. It is expected that by 2024, the 5G network will be accessible to more than 40% of the global population and will bring digital transformation.  In comparison to previous generations, 5G works at a faster frequency, therefore it attains proper signal transmission, which is essential to precise timing synchronization. This increases the for integrating timing devices in the 5G infrastructure.

Timing Devices Market: Regional Overview

The global market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Thriving Consumer Electronics Industry to Drive the Market Growth in Asia Pacific Region

The timing devices market in the Asia Pacific region is estimated to garner the largest revenue by the end of 2036. The rapid expansion of 4G and 5G networks, coupled with the increasing adoption of smartphones and IoT devices, is driving the demand for precise timing devices in the telecommunications sector. The Asia Pacific region is a manufacturing hub for consumer electronics, and the demand for timing devices in products like smartphones, tablets, wearables, and smart TVs continues to surge. In 2021, Asia was the largest industry for consumer electronics, accounting for 38% of the global industry share. The automotive industry in Asia Pacific is witnessing tremendous growth, driven by the rise in electric vehicles (EVs) and advanced driver-assistance systems (ADAS), necessitating precise timing devices for safety and performance. The Asia Pacific region has emerged as a dynamic and high-growth market for timing devices, with several key drivers fueling its expansion. The timing devices market in the Asia Pacific region is on a growth trajectory, driven by a confluence of factors, from the expansion of telecommunications infrastructure to the thriving consumer electronics industry.

Booming Telecommunications and 5G Expansion to Propel Growth in the North American Region

The North American timing devices market is estimated to garner the highest CAGR by the end of 2036. The rapid deployment of 5G networks and the growing demand for high-speed data transmission are boosting the need for precise timing devices in the telecommunication sector. According to the CTIA, North America led the world in 5G deployments, with over 175 million 5G connections by the end of 2020. The North America market is experiencing robust growth, driven by several key factors. The aerospace and defense sector in North America relies heavily on advanced timing devices for navigation, communication, and mission-critical applications. The North American automotive industry is embracing technological innovations, such as electric vehicles (EVs) and autonomous driving systems, which require precise timing devices for synchronization and safety. The proliferation of the Internet of Things (IoT) in various applications, including smart cities, healthcare, and logistics, is driving the demand for timing devices to ensure precise data synchronization. As North America continues to be at the forefront of technological advancements in various sectors, the demand for accurate timing solutions is poised to increase, making it a focal point for timing device manufacturers and industry stakeholders.

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Timing Devices, Segmentation by Materials

  • Ceramic
  • Crystal
  • Single Crystal
  • PolyCrystal
  • Silicon

Amongst these segments, the silicon segment is anticipated to hold the largest share over the forecast period. Silicon is the material from which most of the integrated circuits used in the modern consumer electronics industry are made. Economies of scale, low cost easy availability of high-quality materials, and the ability to integrate electronic functions are factors that lead to higher adoption of silicon. In addition, silicon offers great advantages due to its material properties. Continuous advancements in the semiconductor industry are driving the demand for silicon, which serves as the foundational material for microelectronics. The proliferation of Internet of Things (IoT) devices, smart homes, and wearables relies on silicon-based microchips, driving the demand for silicon wafers and chips. According to IDC, global IoT spending is projected to reach USD 1.1 trillion in 2023. The deployment of 5G networks is propelling the need for advanced silicon components for base stations, smartphones, and other 5G-enabled devices. AI and machine learning applications, including data centers and autonomous vehicles, rely on silicon-based processors and accelerators for efficient computing.

Timing Devices, Segmentation by Application

  • Oscillators
  • Crystal Oscillators
  • MEMS Oscillators
  • Resonators
  • Jitter Attenuator
  • Clock Generator & Clock Distributors

Amongst these segments, the oscillators segment is anticipated to hold a significant share over the forecast period. The deployment of 5G networks is driving the demand for high-frequency and precise oscillators, which are essential for network synchronization and data transmission in the telecommunications sector. Oscillators play a critical role in maintaining the synchronization of 5G networks, ensuring low latency and high data transfer rates. The demand for 5G technology, which relies on precise timing, is a significant driver for oscillator growth. The thriving consumer electronics market, including smartphones, tablets, and wearables, relies on miniaturized and low-power oscillators for clock generation and timing accuracy. The trend towards Industry 4.0, characterized by increased automation and data exchange in manufacturing, relies on precise timing provided by oscillators for synchronized processes. It is predicted that a 26% increase will be in spending on smart factory technologies by 2023. Oscillators are fundamental in IoT devices, providing the necessary timing accuracy for data transmission and sensor coordination. The IoT's growth is a direct driver for the oscillators market. The IoT ecosystem, which encompasses a wide range of applications, relies on oscillators for network synchronization, data transfer, and sensor integration.

Timing Devices, Segmentation by End-Use Industry

  • IT and Communications
  • Consumer Electronics
  • Aerospace and Defense
  • Automotive
  • Industrial Equipment
  • Healthcare
  • Power and Energy

A few of the well-known market leaders in the global timing devices market that are profiled by Research Nester are TXC Corporation, Kyocera Corporation, Murata Manufacturing Co., Ltd, Daishinku Corporation (KDS), SiTime., and other key market players.

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Recent Development in the Market

  • Murata Manufacturing Co., Ltd. announces the launch of the CSTNE-VH5T family of ceramic resonators (CERALOCK), which enable CAN*1-FD*2 and have enhanced frequency accuracy. Due to their dependability, longevity, and superior cost-performance ratio, Murata ceramic resonators (CERALOCK) are frequently employed as timing components in automotive applications.
  • The Seiko Epson Corporation has started selling samples of a new line of differential-output simple packaged crystal oscillators (SPXOs). The SG2016EGN, SG2016EHN, SG2016VGN, and SG2016VHN are part of the series. All of them come in compact packages that measure 2.0 x 1.6 mm have a height of 0.63 mm (typically) and have reduced phase jitter in fundamental mode.

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