Global crystal oscillator market is expected to foresee gains owing to increasing application of quartz-based consumer electronic products including clocks, radios, and computers. The product is used as a critical component in manufacturing electronic products for utilizing the mechanical resonance of vibrating crystal to create an electrical signal. On account of exhibiting properties such as excellent piezoelectricity and creating the mechanical waveform, the product has emerged as a favourable choice among buyers located in electronics industry on a global level. The market presence of RC and LC oscillators in electronics sector on a global scale is expected to have an adverse impact over the forecast period.
Over the past few years, crystal oscillators have emerged as highest growing market across different industry verticals. The product has application in smartphone and tablet industry, where the manufacturers used oscillator mediums including TCXOs, VCXOs, SPXOs and OCXOs on a large scale. Growth demand for smartphones and tablets in emerging markets of China and India in light of new product launches by companies which are not limited to Micromax and Samsung is expected to promote the usage of oscillator product forms.
Positive automotive industry outlook in countries including Mexico and China in light of rising domestic consumption is projected to augment the industry growth. Other driving factors include technological advancement in healthcare equipment, which is anticipated to promote the usage of a crystal oscillator. The evolution of numerous technologies challenging with crystal oscillators including Si MEMS is expected to remain one of the major restraint for the industry. Over the past few years, increasing the number of sale volumes in SUV automotive vehicles and luxury cars in the primary markets including U.S., Germany and China has paved the way for use of advanced safety electronic systems such anti-lock braking system or tire pressure monitoring system. Increasing usage of advanced electronics systems in the automotive industry is expected to promote the incorporation of crystal oscillators over the next eight years.
Technological advancement quartz Microelectromechanical system oscillator (MEMS) technology may open new markets over the next eight years. Quartz crystals are manufactured precisely for frequencies within the range from 10 kHz to 100 MHz and are used in personal computer, clocks, radio, cell phone and wristwatch. Application growth of aforementioned electronic devices on a global level is expected to promote the incorporation of quartz crystals.
On account, increased adoption rate threshold of technologies including 3G, 4G and LET in the U.S. and Canada, the crystal oscillator market is expected to witness a significant gain in the electronics industry. The emergence of Mexico as a manufacturing destination for semiconductors devices in light of regulatory support along with proximity to the U.S. is expected to open new trade avenues over the next eight years. The robust presence of automotive manufacturing units in Germany, France and Italy in light of easy access to consumables is expected to promote the incorporation of crystal oscillators in-vehicle electronics systems over the forecast period. Asia Pacific is projected to have ample amount of opportunities over the next eight years in light of growing electronics industry in China, Malaysia, and Singapore amid technological advancement regarding including of advanced gadgets.
Key crystal oscillator industry participants are not limited to CTS Corporation, Aker Technology, East Crystal Electronics, Microcrystal, RakonCrystal Oscillators, SiwardCrystal Technology, Nihon Dempa Kogyo and TxCorporation.In July 2013, Seiko Epson Corporation launched a new programmable crystal oscillator under the brand name, SG-8003CG. New product development along with the establishment of strategic partnerships with buyers is expected to remain a major critical success factor for the industry over the forecast period. The Strong presence of major electronics manufacturers including Samsung, LG, and Huawei in China, South Korea, Japan and Taiwan is expected to keep strategic business units of industry participants in the vicinity. In July 2015, the government of India launched Digital India Initiative, which is intended for expanding the penetration of internet to rural areas along with promoting electronics manufacturing at domestic level. The initiative as mentioned above is expected to open opportunities for crystal oscillator manufacturers to establish their production units in India over the next eight years.
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The recent COVID-19 pandemic that has been ravaging numerous countries across the globe has adversely affected the overall sensor, control, and automation industry. While the capital investments in the automation sector have been lethargic before the pandemic, they are expected to be put on hold or postponed for at least a year. However, the recent standstill in industrial manufacturing and production is anticipated to act as a wake-up call for the manufacturing sector on its reliance on human labor. This, in turn, is expected to highlight the advantages of robotics and automation helping a greater adoption in the post-pandemic period. As IoT, industrial automation, and digitalization are expected to become increasingly relevant to post-pandemic Tier 1 manufacturers, it may eventually turn into an opportunity especially in evolving supply chains. The report will account for Covid19 as a key market contributor.