Timing Devices Market by Type (Oscillators, Atomic Clocks, Clock Generators, Clock Buffers, Jitter Attenuators), Material (Crystal, Silicon, Ceramic), Vertical (Consumer Electronics, Automotive) and Region - Global Forecast to 2030
[244 Pages Report] The timing devices market was valued at USD 5.5 billion in 2023 and is estimated to reach USD 8.9 billion by 2030, registering a CAGR of 7.1% during the forecast period.
The growth of the timing devices market is governed by advancements in the telecommunications industry, rising adoption of timing devices in smartphones and smart wearables, rise in demand for healthcare and medical equipment .
Timing Devices Market Forecast to 2030
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Market Dynamics:
Drivers: Surge in the demand for healthcare and medical equipment
People are shifting toward electronics or wearable devices to improve their everyday life by tracking fitness activity, health, and medical behavior. The medical electronics or healthcare industry has a high demand for advanced technology products, electronics, and healthcare equipment with widening electronics equipment categories in surgery, radiology, physical medicine, orthopedics, ophthalmology, obstetrics and gynecology, neurology, gastroenterology, urology, and cardiology. Precision timing is crucial in various medical and healthcare applications for synchronization, data accuracy, and reliable operation. Timing devices are ideal for use in medical equipment involving diagnostic imaging, wireless telemetry/patient monitoring, ultrasound, magnetic resonance imaging (MRI), computed tomography (CT) scanning, and positron emission tomography (PET). Implantable medical devices, such as pacemakers and insulin pumps, require precise timing for their operation. These devices interact with the body's physiological processes and need to function reliably and predictably, making accurate timing crucial for patient safety and well-being. In health care electronic products like glucometers and sphygmomanometers, etc., timing devices have a critical influence on measurement precision. Wearable and bedside monitoring devices use timing solutions to synchronize data collection and transmission, enabling accurate patient monitoring. With the advancements in the healthcare industry owing to the inclusion of various technology-related products, the demand for timing devices is also rising as they provide greater precision and reliability.
Restraint: Compatibility and integration issues associated with timing devices
Integration challenges can arise when integrating timing devices such as clock buffers, oscillators, and clock generators into various electronic systems. These challenges stem from factors like compatibility, design considerations, system performance, and practical implementation. Timing devices need to be compatible with the existing electronic components, interfaces, and protocols within the target system. Proper signal integrity is crucial to maintain accurate timing. When timing devices are integrated into systems, issues like noise, electromagnetic interference (EMI), and jitter have to be considered to avoid signal degradation. Different timing devices can have varying sensitivity to temperature variations and other environmental factors. Integrating them while accounting for these sensitivities can be challenging in applications with extreme conditions. Some systems require precise frequency and phase matching between different clock signals. Integrating timing devices with varying specifications can make achieving these requirements more complex. In systems which have multiple components from different vendors, ensuring interoperability and adhering to industry standards can be challenging, especially when integrating timing solutions from various sources.
Opportunity: Growing need for high-precision timing and frequency stability due to network densification
The telecommunications network is shifting toward next-generation network connectivity and currently uses 4G/5G small cells and synchronous Ethernet to increase network data capacity, resulting in impending network densification. This is driving the rapid deployment of equipment end-use devices in uncontrolled environments, which will introduce added stressors on the systems, such as dynamic temperature changes, thermal shock, unpredictable airflow, and vibration. These dynamic conditions affect component performance, especially the stability of legacy quartz timing devices.
Applications requiring highly precise and stable frequency frequently often use timing devices. The growing need for precise timing in several industries, including telecommunications, aerospace and & defense, and scientific research, is expected to drive the timing devices market. In aerospace & defense applications, timing devices are utilized to keep precise time references across many devices and networks, such as atomic clocks, time servers, and synchronization systems.
Challenge: Difficulty in achieving customizations and small form factors
Owing to many new technologies integrated into one system, timing devices are witnessing performance issues related to hardware and software, which may hamper their widespread adoption. As mobile devices continue to shrink in size, they are simultaneously offering an increasingly complex array of functions. This raises the requirement of further miniaturization of all components used, including timing devices. The timing devices, in particular, need to be made even smaller in size while providing high Q ratings. As the size of devices shrinks, maintaining dimensional tolerances and long-term reliability becomes difficult. Wireless handsets, PDAs, and other portable electronic devices continue to shrink in size, while the complexity of their operations increases. Thus, the miniaturization of devices poses a major challenge for the engineers to design and manufacture different types of consumer electronic products. For instance, cell phones could be shrunk to the point where keypads and displays would be difficult to use. The product designers are constantly challenged to provide easy-to-use man–machine interfaces, despite higher product complexity and shrinking control panel. Several electronic devices have already reached a near-optimal form factor. Future miniaturization would focus more and more on increasing a product’s sophistication, performance, and market penetration. This requires superior designs and stable production processes to be achieved, which may become a barrier to the growth of the timing devices market.
Timing Devices Ecosystem
MEMS oscillators to exhibit highest growth for the timing devices market for oscillators during the forecast period.
The oscillators have been segmented into three types namely, crystal oscillators, MEMS oscillators and ceramic oscillators. The MEMS oscillators are finding high penetration in new designs and applications where established quartz technology is no longer used due to its size and cost constraints. The rapid growth of mobile infrastructure, wearable devices, and Internet of Things is driving the market growth of MEMS oscillators. In this context, recently, SiTime Corporation announced a strategic technology partnership to accelerate innovation in micro-electro-mechanical systems (MEMS) timing. SiTime worked with Bosch to develop processes for next-generation MEMS resonator products. These MEMS resonators are the heartbeat of 5G, IoT and automotive electronics, and will enable the higher speeds of 5G, long battery life of IoT devices and increased reliability of driver assistance systems in automotive.
The market for silicon material segment to witness highest growth during the forecast period
The market for silicon material is expected to grow at the highest CAGR during the forecast period. Silicon-based timing devices are relatively insensitive to vibration, shock, and electromagnetic interference (EMI) effects. Thus, the silicon-based MEMS technology is replacing the conventional quartz oscillator technology as the frequency source of choice in most electronic systems.
BFSI segment to exhibit significant growth in terms of timing devices market during the forecast period
The timing devices market for BFSI vertical segment is expected to exhibit significant growth during the forecast period. Timing devices play a crucial role in the BFSI (Banking, Financial Services, and Insurance) sector, contributing to various critical operations, transactions, data management, and regulatory compliance. In the BFSI sector, accurate timekeeping is vital for transaction processing, data integrity, encryption, and synchronization of financial networks.
Timing devices market in Asia Pacific estimated to grow at the fastest rate during the forecast period
The timing devices market, in Asia Pacific is expected to grow at the highest CAGR during the forecast period. Major countries in Asia Pacific, such as China, India, Japan, and South Korea, have a huge potential for the adoption of timing devices. The growth of the market in this region is propelled by growing technological advancements, leading to the introduction of new products, and the strong presence of the consumer electronics industry. China and Japan are industrial hubs that house numerous companies offering electronic equipment, devices, and components, as well as automobile companies, which require timing devices.
Timing Devices Market by Region
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Key Market Players
Major vendors in the timing devices companies include Seiko Epson Corporation (Japan), Nihon Dempa Kogyo Co., Ltd. (Japan), TXC Corporation (Taiwan), Kyocera Corporation (Japan), Rakon Limited (New Zealand), Renesas Electronics Corporation (Japan), Infineon Technologies AG (Germany), Microchip Technology Inc. (US), Texas Instruments (US), Abracon (US), IQD Frequency Products Ltd. (UK), NXP Semiconductors N.V. (Netherlands), STMicroelectronics (Switzerland), SiTime Corporation (US), MtronPTI (US), CTS Corporation (US), Diodes Incorporated (US), ON Semiconductor (US), Crystek Corporation (US), Greenray Industries, Inc. (US), Frequency Electronics, Inc. (US), Oscilloquartz (Switzerland), AccuBeat Limited (Israel), Connor-Winfield Corporation (US), Mercury Electronic Ind. Co., Ltd. (Taiwan) are some of the key players in the timing devices market.
Timing Devices Market Scope Report:
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Report Metric |
Details |
| Estimated Market Size | USD 5.5 billion in 2023 |
| Projected Market Size | USD 8.9 billion by 2030 |
| Growth Rate | CAGR of 7.1% |
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Market size available for years |
2019—2030 |
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Base year |
2022 |
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Forecast period |
2023—2030 |
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Segments covered |
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Geographic regions covered |
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Companies covered |
Seiko Epson Corporation (Japan), Nihon Dempa Kogyo Co., Ltd. (Japan), TXC Corporation (Taiwan), Kyocera Corporation (Japan), Rakon Limited (New Zealand), Renesas Electronics Corporation (Japan), Infineon Technologies AG (Germany), Microchip Technology Inc. (US), Texas Instruments (US), Abracon (US), IQD Frequency Products Ltd. (UK), NXP Semiconductors N.V. (Netherlands), STMicroelectronics (Switzerland), SiTime Corporation (US), MtronPTI (US), CTS Corporation (US), Diodes Incorporated (US), ON Semiconductor (US), Crystek Corporation (US), Greenray Industries, Inc. (US), Frequency Electronics, Inc. (US), Oscilloquartz (Switzerland), AccuBeat Limited (Israel), Connor-Winfield Corporation (US), Mercury Electronic Ind. Co., Ltd. (Taiwan) |
Timing Devices Market Highlights
This research report categorizes the timing devices market based on type, material, vertical , and Region.
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Segment |
Subsegment |
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By Type: |
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By Material: |
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By Vertical: |
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Recent Developments
- In June 2023, Renesas Electronics Corporation introduced the third generation DDR5 registered clock driver (RCD) as well as the first-generation client clock driver (CKD) for emerging DDR5 DRAM servers and client systems.
- In February 2023, Rakon has launched RakonXpress, its new brand of off-the-shelf resonators, oscillators and filters with short lead times. The Rakonxpress portfolio also carries additional products such as Surface Acoustic Wave (SAW) filters and ceramic filters.
Critical questions answered by this report:
What will be the dynamics for the adoption of timing devices market based on type?
The oscillator segment is projected to dominate the timing devices market during the the forecast period. Rise in the adoption of oscillators across various industries such as in consumer electronics, automotive, military and defense and healthcare has propelled the growth of the market. Many common applications such as watches, clocks, computers, radios and mobile phones deploy oscillators. Moreover, rising demand for silicon oscillators, exponential growth in wearable and portable electronics, advancements in MEMS technology and rising implementation of programmable oscillators in complex electronics circuits are anticipated to expand growth of the market during the forecast period.
Which vertical segment will contribute more to the overall market share by 2030?
The consumer electronics vertical segment will contribute the most to the timing devices market. The market for consumer electronics vertical segment segment is expected to account for largest share of the timing devices market during the forecast period. Consumer electronics is among the major verticals for the timing devices market. The overall consumer electronics sector has shown robust growth in recent years with the increasing use of and demand for smartphones, tablets, and PCs. Timing devices such as crystal oscillators are also used in handheld consumer applications, which impacts the battery life of these devices with their low power consumption and fast start-up. These devices are used in hard disk drives, LCD TVs, SLR cameras, desktop PCs, cable TV systems, cellular and cordless phones, watches, clocks, and others.
How will technological developments such as Internet of Things (IoT), edge computing technology change the timing market landscape in the future?
The integration of timing devices with IoT (Internet of Things) and edge computing is a crucial aspect of building reliable and synchronized networks of interconnected devices. Accurate and synchronized timing is essential for various IoT and edge computing applications to ensure efficient communication, data processing, and overall system performance.
Which region is expected to adopt timing devices at a fast rate?
Asia Pacific region is expected to adopt timing devices at the fastest rate. Developing countries such as India and China are expected to have a high potential for the future growth of the market.
What are the key market dynamics influencing market growth? How will they turn into strengths or weaknesses of companies operating in the market space?
The automotive industry is witnessing increased adoption of timing devices. Some of the major applications of timing devices under the automotive sector are anti-lock braking systems or anti-skid braking systems (ABS), navigation systems, vehicle body control systems, engine control systems, and others. Timing devices are crucial for controlling the timing of fuel injection, ignition, and valve operations in internal combustion engines. Accurate timing ensures efficient combustion, reduces emissions, and maximizes fuel efficiency.
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The study involved four major activities in estimating the size for timing devices market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various sources were used to identify and collect information important for this study. These include annual reports, press releases & investor presentations of companies, white papers, technology journals, and certified publications, articles by recognized authors, directories, and databases.
Secondary research was mainly used to obtain key information about the supply chain of the industry, the total pool of market players, classification of the market according to industry trends to the bottom-most level, regional markets, and key developments from the market and technology-oriented perspectives.
Primary research was also conducted to identify the segmentation types, key players, competitive landscape, and key market dynamics such as drivers, restraints, opportunities, challenges, and industry trends, along with key strategies adopted by players operating in the timing devices market. Extensive qualitative and quantitative analyses were performed on the complete market engineering process to list key information and insights throughout the report.
Primary Research
Extensive primary research has been conducted after acquiring knowledge about the timing devices market scenario through secondary research. Several primary interviews have been conducted with experts from both demand (end users) and supply side (timing devices providers) across 4 major geographic regions: North America, Europe, Asia Pacific, and RoW. Approximately 80% and 20% of the primary interviews have been conducted from the supply and demand side, respectively. These primary data have been collected through questionnaires, emails, and telephonic interviews.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the complete market engineering process, both the top-down and bottom-up approaches were implemented, along with several data triangulation methods, to estimate and validate the size of the timing devices market and various other dependent submarkets. Key players in the market were identified through secondary research, and their market share in the respective regions was determined through primary and secondary research. This entire research methodology included the study of annual and financial reports of the top players, as well as interviews with experts (such as CEOs, VPs, directors, and marketing executives) for key insights (quantitative and qualitative).
All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the markets covered in this research study were accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report.
Timing Devices Market: Bottom-Up Approach
Data Triangulation
After arriving at the overall market size from the market size estimation process as explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, market breakdown and data triangulation procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both demand and supply sides. Along with this, the market has been validated using top-down and bottom-up approaches.
Definition
Timing devices are the most important component of any electronic system. Oscillators, resonators, clock generators, clock buffers, and jitter attenuators are among the major timing device types. The electronic circuits operate with reference to a clock signal. The clock signal provides the timing cues to the electronic circuits, which enable them to deliver their functions. Additionally, the clock signal allows the electronic circuits to coordinate or synchronize with the peripheral controller. The timing device generates a reference signal that oscillates at a constant cycle. It is essential for ensuring the proper functioning of electronic equipment. In most timing devices, the core element is made of ceramic or crystal
Key Stakeholders
- Senior Management
- Vertical
- Finance/Procurement Department
- R&D Department
Report Objectives
- To define, describe, and forecast the overall timing devices market, in terms of value, segmented on the basis of type, material and vertical.
- To describe and forecast the market across four regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW)
- To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the timing devices market.
- To provide a detailed overview of the value chain pertaining to the ecosystem of the market
- To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
- To analyze opportunities in the overall timing devices market for stakeholders by identifying the high-growth segments
- To profile key players and comprehensively analyze their market position in terms of ranking and core competencies2 and provide details of the competitive landscape for the timing devices market leaders.
- To benchmark players operating in the market using the proprietary Competitive Leadership Mapping framework, which analyzes market players using various parameters within the broad categories of business and product strategy.
- To analyze competitive developments such as contracts, mergers and acquisitions, product developments, and research and development (R&D) in the overall timing devices market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Product Analysis
- Product matrix that gives a detailed comparison of the product portfolio of each company
Company Information
- Detailed analysis and profiling of additional market players (up to 7)
Growth opportunities and latent adjacency in Timing Devices Market