Crystal Oscillator Market is estimated to witness growth owing to increasing demand from consumer electronics

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Crystal Oscillator Market is estimated to witness growth owing to increasing demand from consumer electronics
The global crystal oscillator market is estimated to be valued at US$ 2594.8 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Crystal oscillators are electronic devices that are commonly used to synchronize and stabilize digital clocks. They offer high frequency stability and provide timing signals for various consumer electronics like personal computers and smartphones. The demand for advanced consumer electronics featuring compact designs and high portability has accelerated the miniaturization of crystal oscillators.

The global Crystal Oscillator Market is estimated to be valued at US$ 2594.8 Million in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

 

Market key trends:

 

The miniaturization of crystal oscillators has been a major trend in the market over the past few years. Consumer electronics demand compact and portable devices that utilize minimal space. This has compelled manufacturers to develop increasingly smaller crystal oscillators. The adoption of microelectromechanical systems (MEMS) and thin/thick film technology has allowed the reduction of crystal oscillator sizes significantly. These techniques facilitate the integration of electronic components in constrained spaces within devices. They have enabled the manufacturing of ultra-compact crystal oscillators measuring less than 1 mm, satisfying the rigorous size needs of modern electronics. This ongoing miniaturization of crystal oscillators through advanced fabrication technologies is expected to continue propelling market growth over the forecast period.

Segment Analysis

The global crystal oscillator market is dominated by temperature-compensated crystal oscillators(TCXO) sub segment due to their higher stability over a wider temperature range. TCXOs are being widely used in telecommunication and networking equipment where device synchronization is critical. They offer greater accuracy and stability than VCTCXO.

 

Key Takeaways

The Global Crystal Oscillator Market Size is estimated to be valued at US$ 2594.8 Million in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.

 

Regional analysis: Asia Pacific region is expected to witness the highest growth in the global crystal oscillator market during the forecast period. The increasing demand for consumer electronics from countries like China, India, Japan, and South Korea is driving the market in this region. Additionally, the presence of key players and low labor costs attract companies to set up manufacturing plants in APAC countries.

 

Key players: Key players operating in the Crystal Oscillator market are Biffa Plc, Clean Harbors, Inc., Covanta Holding Corporation, Daiseki Co., Ltd, Hitachi Zosen Corporation, Remondis Se & Co. Kg, Republic Services, Inc., Suez, Veolia Environment, and Waste Management Inc. Biffa Plc is one of the leading players focusing on expanding its market share through strategic acquisitions. Clean Harbors, Inc. is dominating the North American market through its efficient hazardous and non-hazardous waste management services.


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https://www.newswirestats.com/crystal-oscillator-market-size-share-growth-outlook-2023/

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