Timing Device Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1622
Timing Device Market size is anticipated to witness growth during the forecast period owing to an increase in demand across applications such as healthcare and medical equipment. Crystal units are used in life-sustaining and implantable devices such as pacemakers. Oscillators are used in non-implantable and non-life sustaining gadgets.
Increasing adoption of advanced automotive electronics and growing demand for mobile gadgets are expected to drive the timing device market growth. The adoption of smart grid technology will increase owing to the growing use of time-sensitive smart meters for grid frequency management. Constant technological optimization and demand for Integrated Circuits (ICs) are rising. This is expected to fuel timing device market growth, particularly in the semiconductor clocks segment.
The use of timing devices is essential to maintain system flow due to an increase in the importance of communication and information in technology. These gadgets enable the integration of user actions, delivery of optimum power, and waste reduction. Various electronic tools require timing clicks to ensure proper functioning. For instance, electronic devices, such as security systems, smart meters, and banking systems, run on time information basis. These keep accurate track of time and enable effective functioning, which will boost the timing device market growth.
The growing use of these devices in automotive electronics is expected to drive the timing device market over the forecast period. These are used in car navigation systems, in-vehicle audiovisual equipment, safety control systems, and driving control systems. These are also used in cloud big data applications owing to their capability to interface with commonly used storage ICs, better timing, and improved system optimization. Most of these devices are temperature-sensitive and hard to design.
The timing device market is segmented on the basis of material used, type, and end-use. Based on materials used, the market is segmented into ceramic, crystal, and silicon. The silicon-based types are expected to gain significant share during the forecast period. Silicon types are relatively insensitive to shock, vibration, and effects of electromagnetic interference (EMI). Furthermore, the adoption of high-end silicon oscillators based on MEMS technology is on a rise owing to the development of semiconductor process technology and circuitry integration. These materials are expected to completely replace conventional quartz oscillators as the source of frequency in most electronic appliances, thus propelling the timing device market growth.
Based on the product type, timing device market is classified as oscillators, clock generators, resonators, jitter attenuators, and clock buffers. The oscillators are classified as crystal oscillators and MEMS oscillators. Oscillators are anticipated to be the fastest growing segment owing to the growing use by the automotive and consumer electronics segment. The growth in wearable and portable electronics segment is expected to drive oscillator demand. MEMS oscillators combine low power consumption with accurate frequency production and are increasingly gaining popularity. MEMS technology helps in energy saving and miniaturization of electronics accompanied with delivering high accuracy and stability. The timing device market is expected to gain momentum due to the increasing adoption of MEMS technology.
Based on end-use, the timing device market is segmented into computing tools, consumer electronics, automotive sector, telecommunications, and industrial sector. The consumer electronics segment is expected to hold majority market share during the forecast period owing to the rising adoption of sophisticated gadgets. The demand from automotive sector is expected to grow fast owing to the increasing automation and increasing demand for Automotive Driver Assistance Systems (ADAS). Timing devices are used in industrial equipment including endoscopes and ultrasound equipment and security systems such as CCTV & IPCAM, CNC machine controls, programmable logic controllers, smart energy meters, machine vision equipment, and home automation. These are used in communication infrastructure including home routers & gateways, broadband CPE, LTE base stations, GPON & EPON, and VoIP phones.
The timing device market in Asia Pacific is anticipated to grow at a fast pace during the forecast timeframe owing to increase in developments in consumer electronics, automotive, and manufacturing sectors. Several countries including India, China, and Taiwan offer products such as micromechanical systems (MEMS) oscillators, and quartz crystal at affordable prices. Moreover, several medium and small-scale electronic equipment manufacturers in the region are integrating timing systems with their products.
Some of the key timing device market players include Seiko Epson Corporation, IQD Frequency Products Ltd., Nihon Dempa Kogyo Co., Ltd., Microchip Technology, Inc., TXC Corporation, Texas Instruments, Kyocera Corporation, Cypress Semiconductor Corporation, Murata Manufacturing Co., Ltd., Asahi Kasei Corporation, Rakon Ltd., Knowles Corporation, and Integrated Device Technology, Inc.
The timing device market is highly diversified and competitive in nature. It is characterized by the presence of a large number of international and regional players. Some competitive parameters adopted by competitors include timely delivery to end users, enhanced quality, product affordability, high reliability, and reduction in production costs. In addition, vendors in the timing device market are competing on the basis of factors such as maximum miniaturized version, longer battery capacity, and high accuracy & precision.
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