Market Overview:
Crystal oscillators are electronic devices that use the mechanical resonance of a vibrating crystal to provide a frequency reference for stable oscillator or clock signals used in many applications like telecommunication infrastructure, industrial/instrumentation and military applications. They provide greater stability over temperature and aging with tight tolerance in frequency accuracy. They are used in electronic phase shift keying systems (EPSK), digital synthesizers, serial communication devices, real-time clocks, radio frequency transceivers, Ethernet devices and frequency dividers/multipliers. Their benefits include high stability, small size, low power, extended temperature range, reliability and programmable frequency.
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 key trends:
The rising demand for precise frequency control in telecommunication infrastructure is a major factor driving the growth of the crystal oscillator market. This is evident from increasing 5G network deployments across the globe which requires high precision timing solutions from crystal oscillators. Moreover, rising demand for frequency control devices in industries like military, aerospace and instrumentation is also augmenting market growth. Manufacturers are also focusing on developing small, no drift and low power crystal oscillators to drive their utilization in automotive and consumer electronics applications. Furthermore, integration of crystal oscillator functionality in advanced technologies like multichip modules, oscillators-in-package and surface acoustic wave devices is expected to open new growth avenues over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the crystal oscillator market is low due to high initial capital requirements and established brand loyalty of existing players.
Bargaining power of buyers: Buyers have moderate bargaining power due to the presence of various manufacturers and product offerings. However, switching costs are low.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of substitute materials and technologies. However, the relationship between manufacturers and suppliers is well-established.
Threat of new substitutes: The threat of substitutes is moderate as quartz crystal can be replaced by MEMS and atomic oscillator technologies for specific applications. However, quartz crystal still dominates other technologies due to reliability and cost-effectiveness.
Competitive rivalry: The crystal oscillator market witnesses high competition due to the presence of numerous international and regional players differentiating based on quality, innovation, and pricing.
Key Takeaways
The Global Crystal Oscillator Market Size is expected to witness high growth, exhibiting a CAGR of 4.0% over the forecast period, due to increasing demand for electronic devices and the emergence of 5G technology.
Regional analysis: Asia Pacific dominates the global market and is expected to grow at the fastest rate during the forecast period. Presence of numerous manufacturing units and a large consumer base are some factors contributing to the region’s high market share. China and Japan are expected to provide numerous opportunities in the coming years.
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. Key players are focusing on new product launches and mergers to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it