RF and Microwave Crystal Oscillators Market Trends
Growth Drivers
- Increasing Use of Wireless Communication and Sensing Devices in Various Sectors –
The increasing adoption of telecommunication technology with growing digitalization all over the world and the rising use of wireless devices such as smartphones, mobiles, cashless transaction devices, and smartwatches is estimated to propel the market growth. The number of wireless mobile devices used across the world as of 2021 was more than 14 billion and was projected to reach 18 billion by the end of 2025.
- Rising Usage of Electronic Devices and Increasing Adoption of Electronics – Consumer electronics worth in 2021 across the world were worth over USD 1 trillion as per the estimations.
- Growing GPS Trackers in Many Devices and Vehicles to Track the Route – The worldwide consumption of GPS tracker devices reached USD 2200 million by the end of 2021 according to the reports.
- Increasing Medical Devices in the Healthcare Sector with a Growing Number of Patients – As per the observations, the revenue of medical devices in India as of 2023 was estimated to reach USD 6 billion.
- Rising Adoption of the Internet of Things (IoT) and Connected Devices – The increasing adoption rate of IoT devices as per the survey in 2021 was reported to be more than 30% to 32%.
Challenges
- High Cost of Crystals used in the Crystal Oscillators
- Limited Turning Range of Crystal Oscillators
- Highly Prone to Interferences and Poor Frequency Stability – The signal level of the crystal oscillators is fixed and an outlet level has to be chosen which is suitable for the proper performance. The flexibility is very poor and the crystal oscillators are expensive as per the market analysis. Also, the start-up tie is very long in quartz oscillators which limits the growth of the market during the forecast period.
RF and Microwave Crystal Oscillators Market: Key Insights
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
3.9% |
|
Base Year Market Size (2024) |
USD 1.08 billion |
|
Forecast Year Market Size (2037) |
USD 1.78 billion |
|
Regional Scope |
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