NEWARK, Del, July 06, 2023 (GLOBE NEWSWIRE) -- The global timing devices market is likely to reach a valuation of US$ 5.8 billion by 2022. It is estimated to surpass US$ 10.9 billion by 2032. The market is projected to witness steady growth at a CAGR of 6.4% over the forecast period from 2022 to 2032.
Future Market Insights (FMI) mentions that the global timing devices industry witnessed a CAGR of 7.3% over the historical period 2017 to 2021.
The timing devices industry refers to the sectors involved in manufacturing, distributing, and selling devices that measure and regulate time for several applications. Timing devices are preferred by consumers as they are a key component for generating accurate and synchronized time signals for a wide range of industrial applications.
The timing market offers a range of products including oscillators, real-time clocks (RTCs), atomic clocks, frequency synthesizers, GPS/GNSS timing devices, timecode generators, phase-locked loops (PLLs), timing modules, and more. These devices provide accurate and reliable timing solutions that meet the specific needs of numerous sectors.
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Timing devices are used in sectors such as communications, aerospace, defense, automotive, industrial automation, consumer electronics, and healthcare. These devices play a key role in maintaining precise timing, synchronization, and coordination between several systems and applications conveniently.
Demand for timing devices is determined by several factors. Advancements in communication technologies such as 5G networks and the Internet of Things (IoT) have necessitated precision timing for synchronization and coordination. The automotive sector relies on timing devices for applications such as advanced driver assistance systems (ADAS) and in-vehicle connectivity.
The aerospace and defense sectors require precise timing devices for satellite communications, radar systems, and military operations. Furthermore, growth in consumer electronics, industrial automation, and research and scientific applications continues to increase the demand for timekeeping devices.
Key market players in the timing industry include semiconductor manufacturers, electronic component suppliers, and specialized timing device manufacturers. These companies compete on product performance, reliability, cost-effectiveness, and innovation.
The market for timing devices is expected to continue growing as businesses increasingly rely on precise and synchronized timing for their operation. Technological advances, the introduction of new technologies, and the demand for precise timing in critical applications are expected to drive the expansion of the market.
Key Takeaways from this Market:
- The United States is projected to be valued at US$ 1.6 billion by 2032.
- Japan is estimated to be valued at US$ 1.9 billion surging at a CAGR of 6.7% through 2032.
- The United Kingdom's timing devices industry is likely to witness a CAGR of around 9% from 2022 to 2032.
- In terms of type, the oscillators category is expected to showcase a CAGR of 3% from 2022 to 2032.
- Based on the application, the automotive segment is expected to exhibit a CAGR of 2% in the assessment period, as compared to a 6.9% CAGR from 2017 to 2021.
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Who’s Winning?
Seiko Epson Corporation, IQD Frequency Products Ltd., Nihon Dempa Kogyo Co. Ltd., TXC Corporation, Microchip Technology, Inc., Texas Instruments, Infineon Technologies AG, Kyocera Corporation, Murata Manufacturing Co. Ltd, Rakon Limited are the key players in the market.
Competitive Landscape:
The competitive landscape of the timing devices market provides details of competitors. Details included include company overview, company finances, earnings, market potential, research and development investments, new market initiatives, global footprint, manufacturing sites and facilities, and company strengths and weaknesses.
The key companies are directing product launches, product testing pipelines, product approvals, patents, product breadth, application advantage, and technology lifeline curves. The above data points are only relevant for companies focused on the global timing device market.
Partnerships, joint ventures, and other strategies increase reach and presence, increasing the company's market share. Furthermore, businesses benefit from more size options to enhance their range of timekeeping devices.
For instance,
- In March 2021, Renesas Electronics Corporation announced the launch of three new ICs for its communication timing The company launched its 8V19N850 as the first fully integrated 5G synchronization solution with dual DPLL front-end architecture for each frequency conversion. The company released the 8V19N880 and 8V19N882 as RF sampling clock generators and clock jitter attenuators focused on meeting timing requirements related to clock synchronization.
- In February 2021, SiTime Corporation, a MEMS timing provider, introduced the SiT5008 temperature-compensated silicon MEMS oscillator (TCXO).
More Insights Available:
Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the timing devices market presenting historical data (2017 to 2021) and forecast statistics for the period from 2022 to 2032.
The study reveals segments segmented in terms of type (oscillators, resonators, semiconductor clocks, jitter attenuator, clock buffers), application (computing tools, consumer electronics, automotive sector, telecommunications, industrial sector), and region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) from 2022 to 2032.
Market by Categorization:
By Type:
- Oscillators
- Resonators
- Semiconductor Clocks
- Jitter Attenuator
- Clock Buffers
By Application:
- Computing Tools
- Consumer Electronics
- Automotive Sector
- Telecommunications
- Industrial Sector
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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