High Precision Temperature Compensated Crystal Oscillator Industry - Regional Synopsis
APAC Market Forecast
Asia Pacific region is estimated to capture significant high precision temperature compensated crystal oscillator market share by 2037. 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
In high precision temperature compensated crystal oscillator market, North America region is likely to hold substantial revenue share by the end of 2037. 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.
