Timing Devices Market projected to reach US$8.026 billion by 2028
The global timing devices market is projected to witness a CAGR of 6.17% to grow to US$8.026 billion by 2028, from US$5.279 billion in 2021.
Owing to the numerous applications and advantages, timing devices are anticipated to witness an increasing demand. The automotive sector is the biggest consumer of timing devices for safety purposes.”
NOIDA, UTTAR PRADESH, INDIA, August 22, 2023/EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the global timing devices market is projected to grow at a CAGR of 6.17% between 2021 and 2028 to reach US$8.026 billion by 2028.— Knowledge Sourcing Intelligence
Owing to the various applications and advantages, timing devices are anticipated to see an increase in demand. Numerous safety systems, including brakes, control systems, airbags, anti-lock brakes, and tire pressure monitoring systems, use crystal-based timing devices. The automotive sector is the biggest consumer of timing devices, for safety purposes.
Timing devices are increasingly used in electronic equipment to provide continuous clock signals for circuits, and their use in consumer, IoT, industrial, and automotive applications is further fueling their demand. Over the forecast period, it is anticipated that factors such as the rising implementation of advanced automotive electronics, growing demand for medical and healthcare equipment, technological advancements such as IoT and connected devices, and rapid growth in 5G and LTE technology will boost market growth.
The market is witnessing multiple collaborations and technological advancements, for instance in November 2022, Pearl and SilTerra Malaysia Sdn. Bhd. launched SingleDie™ Technology for Timing Solutions. Pearl uses SilTerra's AlN Piezo SAW MEMS technology, which offers high-performance integration on CMOS.
Access sample report or view details: https://www.knowledge-sourcing.com/report/timing-devices-market
Based on type, the market is segmented into oscillators, semiconductor clocks, and resonators. The oscillator segment is anticipated to hold a significant market share over the projected period owing to an increase in oscillator adoption across a number of industries, including consumer electronics, automotive, military and defense, and healthcare. The market is expected to grow at a significant CAGR during the forecast period due to factors such as rising silicon oscillator demand, rising wearable and portable electronics sales, growing MEMS technology advancements, and rising use of programmable oscillators in circuits with intricate designs. Oscillators are becoming more widely used in everyday devices like watches, clocks, computers, radios, and mobile phones.
Based on application, the timing devices market is segmented into industrial, consumer electronics, telecommunication, automotive, healthcare, and others. The automotive segment is one of the major consumers of timing devices as these are used in premium audio systems, in-car audiovisual equipment, car navigation systems, infotainment systems, advanced driver assistance systems, driving control systems, and safety control systems. Additionally, the market is expanding owing to the increasing need for low-power consumption devices, an increase in the importance of timing devices in healthcare electronic devices such as sphygmomanometers and glucometers, and a growing trend of miniaturization in medical and healthcare equipment.
Geographically, Asia Pacific is estimated to hold a notable share of the timing device market as a result of the rising demand for crystal and MEMS oscillators in mobile phones and broadcast transmitters, rising adoption of various timing ICs for electronics and automotive products, rising smartphone adoption rates, and rising consumer disposable income. China is one of the world's major markets for timing devices, due to its dominance in the production of consumer electronics, semiconductors, and other telecommunications equipment and gadgets. The nation ranks among the major producers and consumers of crystal and MEMS oscillators worldwide.
As a part of the report, the major players operating in the global timing devices market that have been covered include NXP Semiconductors, Texas Instruments Incorporated, Murata Manufacturing Co., Ltd, Seiko Epson Corp, Seiko Time Creation Inc., Abracon, STMicroelectronics, Rakon Limited, Microsemi Corporation, and Microchip Technology Inc. among other significant market players.
The timing devices market analytics report segments the market as below:
• By Type
o Oscillators
o Semiconductor Clocks
o Resonators
• By Application
o Industrial
o Consumer Electronics
o Telecommunication
o Automotive
o Healthcare
o Others
• By Geography
o North America
• United States
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Others
o Europe
• Germany
• Spain
• United Kingdom
• Italy
• France
• Others
o Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
o Asia Pacific
• China
• Japan
• South Korea
• Taiwan
• Indonesia
• Others
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Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
info@knowledge-sourcing.com
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