Timing Device Market Expected to Reach $12.2 Billion, Globally, By 2032 at 8.3% CAGR: Allied Market Research

The global timing device market is driven by factors such as rise in the adoption of timing ICs in the consumer electronics sector and growth in the need for microwave components in the defense sector.

WILMINGTON, Del., Nov. 29, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Timing Device Market By Product Type, Material, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global timing device industry generated $5.7 billion in 2022 and is anticipated to generate $12.2 billion by 2032, witnessing a CAGR of 8.3% from 2023 to 2032.

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• 156 - Tables
• 81 - Charts
• 311 - Pages

Prime determinants of growth

The timing device market is expected to witness notable growth owing to rise in the adoption of timing ICs in the consumer electronics sector and growth in need for microwave components in the defense sector. Moreover, rise in the adoption of silicon-based oscillators on MEMS technology and advancements in semiconductor process technology and circuit integration over conventional quartz oscillators are expected to provide lucrative opportunities for the growth of the market during the forecast period. On the contrary, high development cost of timing devices and increase in complexity owing to growth in the miniaturization of semiconductor clock ICs limit the growth of the timing device market.

Report Coverage and Details:

The Oscillator segment to maintain its lead position during the forecast period

Based on product type, the oscillator segment held the largest share in 2022, contributing to nearly one-third of the timing device industry revenue, and is projected to maintain its lead position. This is due to the growing need for accuracy in electronics. The clock generator segment is projected to manifest the highest CAGR of 9.8% from 2023 to 2032. This is because clock generator technology innovation offers chances to handle changing requirements and add to the dynamic environment of electronic systems as businesses seek increasingly complex timing solutions.

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The Silicon segment to maintain its lead position during the forecast period

Based on material, the crystal segment held the largest share in 2022, contributing to more than half of the global timing device market revenue, and is expected to maintain its leadership throughout the forecast period. The market for silicon timing devices is expected to rise as a result of ongoing technical advancements that meet the changing needs of contemporary electronic systems. Industries are placing a premium on silicon-based solutions due to their scalability and dependability.

The crystal segment is projected to manifest the highest CAGR of 10.4% from 2023 to 2032. The need for high-precision crystals in automotive electronics, IoT devices, and 5G networks is surging in the industry. The market for crystal timing devices is expected to expand due to ongoing innovation and adaptation to changing technological demands, particularly as sectors place an increasing emphasis on dependable timing.

The Consumer Electronics segment to maintain its lead position during the forecast period

Based on industry vertical, the consumer electronics segment held the largest share in 2022, contributing to more than one-fourth of the global timing device market revenue, and is expected to maintain its leadership throughout the forecast period along with being projected to manifest the highest CAGR of 9.9% from 2023 to 2032. This market growth is due to the increase in demand for smooth communication and enhanced user experiences addressed by advancements in timing technology, such as integrated clock generators and low-jitter solutions.

Asia-Pacific to maintain its dominance by 2032

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global timing device market revenue and is projected to maintain its lead position and is expected to portray the largest CAGR of 10.3% from 2023 to 2032 owing to increase in adoption of pipeline transportation and power projects. In this region, linear actuators are highly used in mobile as well as industrial applications, owing to factors such as increase in the need for 5G infrastructure, and the broad use of consumer gadgets.

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Leading Market Players:

• Kyocera Corporation
• Microchip Technology Inc.
• Texas Instruments Inc.
• Murata Manufacturing Co., Ltd.
• Seiko Epson Corporation
• Rakon Ltd.
• IQD Frequency Products Ltd.
• TXC CORP.
• Infineon Technologies AG
• Microsemi Corporation

The report provides a detailed analysis of these key players in the global timing device market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key Benefits For Stakeholders:

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the timing device market analysis from 2022 to 2032 to identify the prevailing timing device market opportunities.
• Market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the timing device market segmentation assists to determine the prevailing timing device market opportunity.
• Major countries in each region are mapped according to their revenue contribution to the global timing device market demand.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The timing device market forecast report includes the analysis of the regional as well as global timing device market trends, key players, market segments, application areas, and market growth strategies.

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