High Precision Temperature Compensated Crystal Oscillator Market Share

APAC Market Forecast

The high precision temperature compensated crystal oscillator market in Asia Pacific is projected to be the largest by gaining a revenue of USD 1 billion by the end of 2036 from revenue of USD 447.93 million in 2022. The growth of the market can be attributed majorly to the leading status of the region in three major areas, including semiconductors, consumer electronics, and several telecommunication devices and equipment. In January 2021, the Chinese government revealed its intention to boost the domestic market for electronic components to USD 327 billion by 2023. The approach includes the parts, supplies, and manufacturing tools required by industries such as smartphones, drones, 5G wireless, linked factories, electric vehicles, robotics, high-speed rail, and aircraft.  China is one of the world's most important markets for crystal oscillators. The country is a major manufacturer and consumer of crystal oscillators.

North American Market Statistics

The North America high precision temperature compensated crystal oscillator market is estimated to be the second largest, burgeoning at a CAGR of 6.13% during the projected period for registering a market revenue of USD 600 million by the end of 2036. Furthermore, in 2022, the market revenue in the region was USD 280 million. The market's expansion can be traced mostly to the expanding military and defense, as well as telecommunications sectors in the United States and Canada. The defense sector in particular is highly competitive in the United States, and telecommunication has emerged as a prominent trend in aerospace research.