Timing devices market trends is projected to grow from USD 5.5 billion in 2023 to reach USD 8.9 billion by 2030; it is expected to grow at a Compound Annual Growth Rate of 7.1%
The timing devices market trends is projected to grow from USD 5.5 billion in 2023 to reach USD 8.9 billion by 2030; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.1% from 2023 to 2030.The growth of the timing devices market is driven by increasing adoption of advanced automotive electronics, rising adoption of timing devices in smartphones and smart wearables, rise in demand for healthcare and medical equipment.
Major key players in the timing devices market trends with their respective market ranking analysis. Prominent players profiled in this report include Seiko Epson Corporation (Japan), Nihon Dempa Kogyo Co., Ltd.
(Japan), TXC Corporation (Taiwan), Kyocera Corporation (Japan), Rakon Limited (New Zealand), Renesas Electronics Corporation (Japan), Infineon Technologies AG (Germany), Microchip Technology Inc. (US), Texas Instruments (US), Abracon (US), IQD Frequency Products Ltd.
(UK), NXP Semiconductors N.V. (Netherlands), STMicroelectronics (Switzerland)
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Timing Devices Market Dynamics:
Drivers: Surge in the demand for healthcare and medical equipment
People are shifting toward electronics or wearable devices to improve their everyday life by tracking fitness activity, health, and medical behavior. The medical electronics or healthcare industry has a high demand for advanced technology products, electronics, and healthcare equipment with widening electronics equipment categories in surgery, radiology, physical medicine, orthopedics, ophthalmology, obstetrics and gynecology, neurology, gastroenterology, urology, and cardiology.
Precision timing is crucial in various medical and healthcare applications for synchronization, data accuracy, and reliable operation.
Opportunity: Growing need for high-precision timing and frequency stability due to network densification
The telecommunications network is shifting toward next-generation network connectivity and currently uses 4G/5G small cells and synchronous Ethernet to increase network data capacity, resulting in impending network densification. This is driving the rapid deployment of equipment end-use devices in uncontrolled environments, which will introduce added stressors on the systems, such as dynamic temperature changes, thermal shock, unpredictable airflow, and vibration.
These dynamic conditions affect component performance, especially the stability of legacy quartz timing devices.
Challenge: Difficulty in achieving customizations and small form factors
Owing to many new technologies integrated into one system, timing devices are witnessing performance issues related to hardware and software, which may hamper their widespread adoption. As mobile devices continue to shrink in size, they are simultaneously offering an increasingly complex array of functions.
This raises the requirement of further miniaturization of all components used, including timing devices.
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North America is expected to hold the significant share in the market by 2030.
The North American region is expected to hold the second-largest share of the timing devices market during the forecast period. The growth of the timing devices market trends in this region is attributed to the dominance of the US with the presence of a large number of timing devices manufacturers in the country.
Micron Technology, Inc (U.S.), Connor-Winfield Corporation (US), Crystek Corporation (US), ON Semiconductor (US), Diodes Incorporated (US), are among a few manufactures offering timing devices in the US. The government has provided a supportive environment for research and innovation in terms of new and improved technologies in this region.
The increasing R&D capabilities are broadening the application areas of timing devices in different industries such as consumer electronics, automotive, and healthcare. Thus, the demand for timing devices in North America is likely to increase in the near future.
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