New York, Nov. 28, 2023 (GLOBE NEWSWIRE) -- The global crystal oscillator market size is poised to grow at a CAGR of over ~8.5% from 2024 to 2036. The market is anticipated to garner a revenue of USD 8.5 billion by the end of 2036, up from a revenue of ~USD 3.2 billion in the year 2023.The demand for crystal oscillators in the aerospace and defense industry is on the rise due to their high accuracy, stability, and reliability. These qualities are of utmost importance in mission-critical applications where even a slight deviation from the desired frequency can result in catastrophic consequences.
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Furthermore, the increasing use of electronic systems in modern aircraft and defense equipment such as advanced radar systems, drones and other unmanned vehicles has led to a surge in demand for crystal oscillators. These systems require precise timing signals, which can only be provided by crystal oscillators. In addition, the growing adoption of wireless communication technologies in the aerospace and defense sector has also contributed to the increasing demand for crystal oscillators. These technologies require high-frequency signals that can only be generated by crystal oscillators.
Emerging Applications of Crystal Oscillators in Healthcare to Boost Market Growth
Crystal oscillators are electronic devices that generate electrical signals with a very high degree of accuracy. They are widely used in various applications, including healthcare. Crystal oscillators are used in medical imaging equipment such as MRI and CT scanners to generate high-frequency signals that produce detailed images of the human body. The accuracy and stability of crystal oscillators are essential for producing high-quality images. Moreover, the increasing use of patient monitoring devices such as ECG machines, blood pressure monitors, and pulse oximeters are expected to drive market growth in coming years. According to a survey conducted in 2020, 24 million Americans used remote monitoring services and tools. A total of[R1] 32 million U.S. patients will be monitoring their health remotely by 2024. Crystal oscillators are used in patient monitoring devices to generate accurate and stable signals that measure various physiological parameters. The reliability and precision of crystal oscillators are crucial for ensuring accurate measurements and timely diagnosis of medical conditions.
Crystal Oscillator Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rapid Growth Of Automotive Industry to Drive the Growth in the Asia Pacific Region
The crystal oscillator market in Asia Pacific region is estimated to garner the largest revenue by the end of 2036. This is due to its increasing demand in consumer electronics and the automotive industry, as well as the presence of a large number of manufacturers in the region. The Indian auto industry accounted for 9[R2] % of the country's total exports and 7% of its GDP as of April 2022. The automotive industry has seen a growing adoption of crystal oscillators due to their reliability and accuracy. Crystal oscillators are used in automotive systems such as engine control units, airbag systems, and infotainment systems. Moreover, the increasing demand for advanced safety features and driver assistance systems in vehicles is driving the regional market growth.
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Rising Trend Towards Electric And Hybrid Vehicles to Drive the Growth in the Europe Region
The Europe crystal oscillator market is estimated to garner the largest revenue by the end of 2036. The rising trend towards electric and hybrid vehicles in region is fueling the adoption of crystal oscillators, as these vehicles require precise timing for their systems to function properly. Over 2.7 million electric cars were sold in Europe in 2022, an increase of over 15% from 2021. Furthermore, the increasing demand for electric vehicles has led to an increase in the production of semiconductors, which requires accurate timing to maintain optimal performance. As a result, the demand for crystal oscillators is expected to increase significantly in the coming years.
Crystal Oscillator Segmentation by Mounting Scheme
- Surface Mount
- Through-hole
The surface mount segment is[R3] anticipated to hold the largest revenue share of 57% by the end of 2036. This is due to its high demand for small size and low power consumption requirements in various applications, such as wearable devices, smart phones and tablets, and automotive electronics. In addition to microprocessor clocks and network cards, crystal oscillators are used in various consumer electronics devices. Additionally, the growing demand for miniaturization, higher reliability and better performance of oscillators is expected to drive the growth of the surface mount segment.
Crystal Oscillator Segmentation by Application
- Consumer Electronics
- Military& Aerospace
- Telecom & Networking
- Industrial
- Research & Measurement
- Automotive
- Medical
The consumer electronics segment in crystal oscillator market is anticipated to hold the largest revenue by the end of 2036. Crystal oscillators are electronic circuits that generate precise frequency signals used in various applications such as clocks, radios, and computers. In recent years, the demand for crystal oscillators has increased significantly due to the growth of the consumer electronics industry. The increasing adoption of smartphones, wearables, and other portable devices that require high-frequency signals has driven the demand for crystal oscillators in the consumer electronics. A 4.9% annual increase in smartphone users is predicted for 2023, marking a global total of 5.20 billion smartphone users. In 2019, there were 720 million connected wearable devices, an increase of 320 million over 2017. As more consumer electronics products are manufactured with increasingly sophisticated components, they require more and more accurate frequency signals to stay synchronized. Crystal oscillators are a reliable and affordable solution for providing these signals, making them an attractive choice for consumer electronics manufacturers.
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A few of the well-known industry leaders in crystal oscillator market that are profiled by Research Nester are QTech Corporation, Microchip Technology Inc., SIWARD TECHNOLOGY CO., LTD, SiTime Corporation, TXC CORPORATION, Bliley Technologies Inc., Rakon Limited, Greenray Industries, Inc., QVS Tech, Inc, HOSONIC TECHNOLOGY (GROUP) CO., LTD., and other key market players.
Recent Development in the Crystal Oscillator Market
- In an informative white paper, Q-Tech Corporation discusses the potential effects of deploying tens of thousands of satellites in low-earth orbit in the next ten years. Q-Tech Corporation is a leading provider of crystal oscillators for space, military, avionics, and high-temperature applications.
- A number of Greenray products were unveiled at Electronica 2022, including TCXOs, OCXOs, VCXOs, and XOs. A number of Greenray's new products were announced at Electronica 2022, including TCXOs, OCXOs, VCXOs, and XOs.
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