RF and Microwave Crystal Oscillators Market - Regional Analysis
North American Market Insights
North America industry is predicted to dominate majority revenue share of 35% by 2035. The growth of the market can be attributed majorly to the growing number of internet users, increasing adoption of wireless communication, and higher adoption of technology in the region. Moreover, constant technological advancements in the region, are expected to surge the demand for RF and microwave crystal oscillators over the forecast period. The increasing sales of smartwatches and digital watches with growing demand for smart electronic devices in the region are driving the regional market growth. The increasing applications of RF and microwave crystal oscillators in the aerospace sector are also driving the market growth as the aviation sector is very huge in the region. The adoption of digital technology in all the sectors in the region with growing advancements in the region owing to rising living standards and economic development of government is estimated to have a huge positive impact on the growth of the market. The number of internet users by the end of 2023 as per the estimations was 450 million in North America.
APAC Market Insights
The Asia Pacific RF and microwave crystal oscillators market is estimated to be the second largest, registering a share of about 24% by the end of 2035. The growth of the market can be attributed majorly to the rapid growth in the telecommunication sector in developing countries. For instance, according to the data from the India Brand Equity Foundation (IBEF), the gross revenue of the telecommunication sector in India amounted to USD 8.74 billion in the first quarter of FY 2022. Along with this, the number of internet subscribers in the country doubled by 2021, to 829 million subscribers. The rising satellite communication with the increasing aerospace and marine sector in the region is propelling market growth. The growing internet penetration in the region as well as e-commerce purchases are estimated to hike the market growth. Growing sales of smart kitchen appliances such as microwaves, air fryers, refrigerators, and other kitchen gadgets with a growing consciousness of health among people in the region is propelling the market growth. The rising healthcare spending and increasing medical devices in homes and clinics, hospitals, and pharmacies are driving the market growth. The digitalization of medical equipment made them user-friendly with no professional support and reduced many diagnostic and traveling costs for patients.
Europe Market Insights
Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the rising use of rf oscillators in the antennas for television, cars, and radio stations is estimated to propel the market growth. The increasing consumption of semiconductors across the region is also estimated to drive market growth. Increasing adoption of computer devices, video cameras, cellular phones, and video games by people in the region with growing digitalization is estimated to propel the market growth. Further, the growth of the market is attributed to the increasing transportation sector in the region with growing tourism and increasing employees. Also, the use of vacuum cleaners, cordless devices, coffee machines, air purifiers, and smart IoT devices is propelling market growth in the region. Rising competition and increasing new devices are driving market growth in the coming years.
