The Next Generation Crystal Oscillators Market is expected to reach $3.10 billion by 2023.
Asia Pacific to dominate the Next Generation Crystal Oscillators during forecast period
Asia Pacific is the largest region in the Next Generation Crystal Oscillators Market due to the growing consumer electronics in the region. The market in this region is expected to reach $1576.68 million at a CAGR of 5.90%. Countries such as South Korea and China are the main consumers for the next generation crystal oscillators. The growing economies in Asia Pacific have led to increasing disposable income. This drives the consumer electronics market in the region.
In Asia Pacific, the smartphone and computer markets have witnessed a high growth in the recent years. The increasing military budgets in the region will also drive the market. The next generation crystal oscillators form an important part of the military equipment. This factor drives the growth of Next Generation Crystal Oscillators Market in Asia Pacific.
The arrival of digital control in consumer electronics is the main factor responsible for the growth of the next generation crystal oscillators. Consumer electronics consists of microcontroller run computing products such as desktop PC, portable PC, mobile phones, digital cameras, etc. The emergence of smartphones and tablets in regions such as Asia Pacific and Latin America will be the major driver of these devices. The wearable electronics industry is performing well in the smart watch, fitness & wellbeing sectors. These factors along with the innovations in the wearable infotainment category will accelerate the growth of the crystal oscillator.
Excerpts on Market Growth Factors
The Next Generation Crystal oscillator Market has been witnessing a significant growth due to the growing penetration of smart devices such as smartphones, tablets and wearable devices across the world. Low power and reduced form factor of the oscillators are indispensable for the smart devices as the size of the smart phones, wearable devices and tablets has reduced drastically in terms of width.
The growth of the wireless technology bolsters the demand for mobile data traffic which in turn needs infrastructure support. New generation communication devices need high infrastructure specification equipment to transmit and receive data packages with improved speed and bandwidth. This factor drives the growth of the programmable crystal oscillator.
The demand for automotive electronics is growing high due to the advancement in the automotive industry in terms of vehicular infotainment system and advance driver assistance system. Increasing number of vehicles drives the demand for automotive industry which in turn enhances the growth of next generation crystal oscillators.
Key players of the Next Generation Crystal Oscillators Market
The key players of the Next Generation Crystal Oscillators Market are Miyazaki Epson Corporation, Nihon Dempa Kogyo Co Ltd, TXC Corporation, and Kyocera Crystal Devices. Miyazaki Epson Corporation prepares quartz and crystal devices. It also manufactures timing devices, sensing devices, and optical devices. Nihon Dempa Kogyo Co Ltd which has its headquarters in Japan, manufactures crystal devices which are used in segments such as automotive electronics, fixed radio communications, mobile communications, etc. TXC Corporation produces quartz crystal products of dual in package and surface mount device type. Kyocera Crystal Devices manufactures crystal devices which are used in the electronic equipment for customers in Japan.
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