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The timing devices market size is forecast to increase by USD 1.97 billion at a CAGR of 6.09% between 2022 and 2027. Market growth hinges on various factors, notably the widespread adoption of smartphones and tablets, driving demand for compact electronic devices. The trend towards miniaturization in electronic devices is another crucial factor, as consumers seek smaller, more portable gadgets with advanced functionalities. Additionally, the significance of resonators in electronic devices cannot be understated, as they play a vital role in ensuring optimal performance and functionality. These factors collectively contribute to the growth and evolution of the market, creating opportunities for innovation and advancements in electronic components. As technology continues to advance, the market is poised for further expansion, driven by the continuous demand for efficient and compact electronic devices across various industries and consumer segments.
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This market report extensively covers market segmentation by end-user (consumer electronics, IT and telecom, automotive, aerospace and defense, and others), type (oscillators, resonators, clock generators, clock buffers, and jitter attenuators), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market is propelled by the increasing demand for synchronization and timing accuracy in various sectors. Programmable Logic Controllers (PLCs) drive automation in industrial settings, while communication instruments and microcontrollers ensure precision in telecommunications. Smart appliances and medical devices rely on chronological precision for optimal performance, reflecting a trend toward innovation in electronic devices. Challenges include meeting stringent safety regulations, especially in automotive systems and healthcare, while advancements like 5G technology and GPS integration open new avenues for timing devices in smart homes and industrial settings.
Increased adoption of smartphones and tablets is the key factor driving the growth of the market. The global timing device market has observed an increasing use of MEMS for a number of applications in mobile devices, such as improved device performance and better oscillations for RF components. A single mobile device usually contains 3-5 timers, and the number of applications has also increased gradually. These timing devices have a resonator for oscillating.
Moreover, the general characteristics of the resonators, such as high-frequency stability, resistance to shock and vibration, as well as low power consumption, make them suitable for use in portable devices. Therefore, with the increasing demand for smartphones and tablets, the demand for resonators will also increase, leading to greater demand for resonators across the globe. Increasing smartphone usage will boost the growth of the market during the forecast period.
The increasing miniaturization of crystal resonators is an important trend that is expected to have a positive impact on the growth of the market. Crystalline resonators are widely used in wireless applications, and the size of the products used in these applications is constantly reducing. Miniaturization is necessary because crystal resonators must be incorporated into these very compact products.
Moreover, since these resonators are developed using MEMS technology, operating on the principle of miniaturization, they can be easily and efficiently integrated into these compact products. Therefore, this is expected to fuel the growth of the global market during the forecast period.
The cyclical nature of the semiconductor industry is the challenge that affects the growth of the market. The growth of the global timing device market is heavily dependent on the sales of the semiconductor integrated circuit. On the other hand, rising sales of electronic devices are driving the adoption of semiconductor integrated circuits. Growing and falling demand for electronic products, such as consumer electronics and mobile devices, makes it difficult to forecast the semiconductor market. This leads to oversupply or undersupply for semiconductor integrated circuits.
Moreover, in the event that supply exceeds demand, factories can meet demand for semiconductor integrated circuits without increasing production capacity, helping to reduce their capital costs. As such, market players must ensure to meet the demand that varies according to production capacity and balance the supply-demand equation. Fluctuating demand for semiconductor integrated circuits can impede the growth of the global market during the forecast period.
The market is intricately woven into various sectors, playing a vital role in ensuring precise synchronization and timing accuracy across industries. Programmable Logic Controllers (PLCs) are essential in industrial settings, orchestrating complex processes with chronological precision. In telecommunications and communication instruments, microcontrollers and clocks are fundamental for maintaining timing accuracy and synchronization in data transmission. Likewise, electronic devices such as smart appliances and medical devices rely on precise time for optimal functionality. The automotive sector utilizes timing devices for coordinating operations in automotive systems, adhering to safety regulations and leveraging technologies like the Global Positioning System (GPS). In banking and corporate processes, time and date monitoring is critical, ensuring accuracy in financial transactions and corporate operations. Moreover, in scientific research and innovation, atomic clocks and advanced timing solutions are indispensable for conducting experiments and measurements with high accuracy.
The market share growth by the consumer electronics segment will be significant during the forecast period. The consumer electronics segment includes essential home appliances such as smartphones, tablets, portable appliances, refrigerators, air conditioners, televisions, washing machines, set-top boxes, and machines. cameras, home entertainment systems, video cameras, game consoles, and monitors. It also includes wearable devices such as smartwatches and fitness devices, among others. Household appliances that consume energy, if used optimally, energy can be saved.
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The consumer electronics segment showed a gradual increase in the market share of USD 1.21 billion in 2017 and continued to grow by 2021. Nowadays, a large number of consumers prefer efficient and energy-saving household appliances. As a result, home appliance manufacturers are constantly engaged in offering integrated home products with advanced semiconductors that deliver high performance with enhanced functionality. Smartwatches, security systems, banking systems, and other consumer systems and applications operate on the basis of time information, making accurate time tracking essential. Hence, they will require timing devices that ensure proper functionality, which will drive the growth of the global market during the forecast period.
The oscillators are an important growth segment. The demand for oscillators has raised in various applications, mainly in the consumer electronics sector. Many consumers want smart, efficient, and energy-saving home appliances. Home appliance manufacturers are continuously committed to providing innovative semiconductor integrated circuit home products that deliver high performance with more features, low power consumption, and low cost. With the increase in demand for integrated circuits, the subsequent demand for timing devices such as oscillators also increases. Hence, with the increasing expansion of consumer devices, the global timers market will also drive growth in the oscillator segment during the forecast period.
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APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The adoption of semiconductor timing devices is very high in the APAC region. Several crystal oscillators and MEMS manufacturers based in the Americas have expanded into countries such as China, India, and Taiwan, which offer products at affordable prices.
Furthermore, several key electronics companies such as Samsung Electronics, Sony, Haier, Huawei, Toshiba, and LG Electronics have headquarters in APAC. A large number of major automobile manufacturers such as Toyota Motor, Hyundai, Honda, TATA, and Mahindra also have headquarters in this region. In addition, China, India, and Taiwan have many small and medium-sized electronics manufacturers. This has led to a growing need for the integration of timing devices into the products offered by these manufacturers. China, Taiwan, and South Korea are the leading investors in the APAC semiconductor timing device market. Hence, such factors will drive the growth of the market during the forecast period.
The Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides a market growth analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is a crucial component in various industries, ensuring precise synchronization and accurate timekeeping for a range of applications. Real-Time Clocks (RTCs) and Precision Time Protocol (PTP) are integral to communication instruments, microcontrollers, and smart appliances, offering precise timing accuracy essential for medical devices, automotive systems, and telecommunications networks. In industrial automation, Programmable Logic Controllers (PLCs) rely on accurate timers and counters for efficient production processes and conveyor belt operations. Financial transactions and corporate processes also heavily depend on synchronization and chronological precision provided by timing devices.
Moreover, the aviation industry relies on timing solutions for safety regulations and global positioning, where Atomic clocks and GPS play critical roles. In scientific research and healthcare, wearable technology such as fitness trackers and health monitoring gadgets require precise time and date monitoring. With the advent of 5G technology and the Internet of Things (IoT), the demand for timing devices has surged, leading to technological innovations and product extensions for enhanced flexibility and durability. The Market caters to a global audience, with suppliers and buyers forming a robust supplier-buyer network focused on meeting global market requirements while navigating a competitive environment. Opportunities lie in emerging markets, stimulating R&D activities and the development of cost-effective timing devices for public and private organizations alike, fostering potential future growth.
Market Scope |
|
Report Coverage |
Details |
Page number |
182 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.09% |
Market growth 2023-2027 |
USD 1.97 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.42 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 39% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abracon LLC, Adolf Wurth GmbH and Co. KG, Asahi Kasei Corp., Chroma ATE Inc., Corning Inc., HIOKI E.E. Corp., KYOCERA Corp., Meco Instruments Pvt. Ltd., Microchip Technology Inc., Milnec Interconnect Systems, Murata Manufacturing Co. Ltd., National Instruments Corp., Sanwa Electric Instrument Co. Ltd., Seiko Epson Corp., Silicon Laboratories Inc., STMicroelectronics International N.V., Texas Instruments Inc., Toshiba Corp., TXC Corp., and Yokogawa Electric Corp. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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