Market Size of Crystal Oscillator Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.99 Billion |
| Market Size (2029) | USD 3.60 Billion |
| CAGR (2024 - 2029) | 3.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Crystal Oscillator Market Analysis
The Crystal Oscillator Market size is estimated at USD 2.99 billion in 2024, and is expected to reach USD 3.60 billion by 2029, growing at a CAGR of 3.80% during the forecast period (2024-2029).
Crystal devices like quartz crystal units and crystal oscillators have high stability against environmental changes. Therefore, they are used as frequency control devices in electronic circuits.
- The increasing demand for convenience is driving the application of wireless interconnections, such as remote keyless entry. The application of crystal units and crystal oscillators in automobiles is expected to increase during the forecast period.
- Crystal oscillators, such as brake control, anti-blocking systems, airbags, and tire pressure monitoring systems (TPMS), are widely used in safety applications. The demand for precision, coupled with growing requirements, improving regulations for safety applications, and the necessity for fast data transmission, is driving the adoption of crystal units and oscillators.
- The demand for crystal oscillators has increased with the use of WiFi and Bluetooth combo chipsets in smartphone applications. Considering the increasing support for these applications in consumer products, the consumer electronics segment is expected to witness strong potential growth during the forecast period.
- However, many other variants of oscillators in the market offer strong competition to quartz crystal oscillators, restraining the market growth. For instance, MEMS resonator-based oscillators increase ruggedness and are smaller than crystal oscillators; they can potentially replace them in many applications.
- COVID-19 halted the manufacturing operations of many electronic devices, one of the primary areas of applications of crystal oscillators. Besides, the supply chain disruptions caused by the pandemic affected the procurement of raw materials for many major manufacturers. However, with the pandemic-related restrictions easing up in most regions around the globe, the market has started picking up and is expected to witness steady growth in the coming years.
