DELRAY BEACH, Fla., Sept. 9, 2024 /PRNewswire/ -- The timing devices Market is projected to grow from USD 5.24 billion in 2024 and is expected to reach USD 7.59 billion by 2030, growing at a CAGR of 6.4% from 2024 to 2030 according to a new report by MarketsandMarkets. The telecommunication industry drives the timing devices Industry. Wireless networks need precise timing and synchronization as well as faster data transfer while the development of 5G technology takes place. This also applies for satellite communication systems, broadcast services and other spatial applications. In future whether in 5G or 6G there will be an enormous amount of data crossing through with extremely low latency therefore requiring accurate synchronization between the network components and their devices. In this regard timing becomes very important because there will be different network elements that must be coordinated appropriately at all times. Timing devices help synchronize various networks nodes such that there is uninterrupted communication between them while reducing interference at the same time. Also, for any successful coordination and efficient processing of data on these edge devices requires precise timekeeping.
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Browse in-depth TOC on "Timing Devices Market"
220 - Tables
68 - Figures
228 - Pages
Timing Devices Market Report Scope:
Report Coverage | Details |
Market Revenue in 2024 | $ 5.24 billion |
Estimated Value by 2030 | $ 7.59 billion |
Growth Rate | Poised to grow at a CAGR of 6.4% |
Market Size Available for | 2020-2030 |
Forecast Period | 2024-2030 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, Material, Vertical, and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Compatibility and integration issues associated with timing devices |
Key Market Opportunities | Rising demand for miniature electronic devices with improved performance and advanced features |
Key Market Drivers | Rising adoption of timing devices in smartphones and smart wearables |
Atomic clocks Industry is expected to witness highest CAGR during the forecast period.
The Industry for atomic clocks is growing due to the unique precision and accuracy, necessary for satellite navigation systems, scientific research and telecommunications. As the satellite-based navigation systems including GPS expands their operations, atomic clocks play a crucial role in synchronizing satellites constellations thus providing reliable positions. Their miniaturization along with advancements like optical lattice clocks are responsible for a surge in their usage across various industries. Apart from being used for precise timekeeping in industries such as finance, military and aerospace these devices are needed in supporting infrastructure such as power grids and transport networks etc. Furthermore, increasing demand for quantum technologies drives the need for atomic clocks.
The crystal segment in the timing devices Industry is expected to capture largest share during the forecast period.
The crystal segment occupied the top position in the market in 2024 owing to the extensive usage of quartz crystals in electronic devices for accurate timing and frequency regulation. Quartz crystals are cost-efficient, dependable, and consistent which makes them a preferred choice in different applications extending from consumer electronics to industrial machines. Their leadership is supported by their maturity of technology plus already established supply chain while their flexibility meets various frequency and stability demands. Besides growth of consumer electronics Industry, other factors contributing to increasing demand for crystal materials include technological innovations made on miniaturization, precision improvement among other areas pertinent to crystal technology.
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Asia Pacific is expected to hold the largest share of the timing devices Industry during the forecast period.
Asia Pacific dominates in the timing devices Industry driven by the increasing demand for electronic items such as consumer electronics, automotive electronics, and wearable electronics in this region is responsible for the expansion. The rising demand for various timing ICs used in electronics and automotive applications, increasing number of mobile phone utilization, broadcast transmitters, and consumers high disposable payments in the region are some of the determinants of market expansion within this region.
Key Timing Devices Industry Players:
Leading players in the timing devices companies include NIHON DEMPA KOGYO CO., LTD., (Japan), Seiko Epson Corporation (Japan), KYOCERA Corporation (Japan), TXC Corporation (Taiwan), Rakon Limited (New Zealand), and Infineon Technologies AG (Germany). Renesas Electronics Corporation (Japan), Microchip Technology Inc. (US), Texas Instruments Incorporated (US), Abracon (US), IQD Frequency Products Ltd. (UK), Vishay Intertechnology, Inc. (US), STMicroelectronics (Switzerland), SiTime Corp. (US), MtronPTI (US), CTS Corporation (US), Diodes Incorporated (US), ON Semiconductor Corporation (US), Crystek Corporation (US), Frequency Electronics, Inc. (US), Greenray Industries, Inc. (US), Oscilloquartz (Switzerland), AccuBeat Ltd. (Israel), Connor-Winfield Corporation (US), and Mercury Inc. (Taiwan) are few other key companies operating in the timing devices Industry.
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