Research Nester’s recent market research analysis on “Timing Devices Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global timing devices market in terms of segmentation by materials, application, end-use industry, and by region
Increased Number of Electronic Devices such as Smartphones to Drive Growth of the Global Timing Devices Market
The growing utilization of timing devices in electronic devices and the increase in the number of electronic devices are driving market expansion in the region. Numerous electronic circuits are present in every type of electronic device. Clock signals, also known as steady periodic oscillations, are steady signals that oscillate at regular intervals and are essential to the proper working of circuits. The increasing number of mobile devices such as tablets, smartphones, and other consumer electronics (mobile phones, personal digital assistants (PDA), portable game consoles, mobile media players, and digital cameras) is a major factor in the market expansion for timing devices.
In April 2023, there will be 5.48 billion "unique" mobile users, according to the most recent statistics, which show that more than two-thirds of the world's population now uses a mobile phone. The number of cellular connections related to smartphones is also growing, and according to the most recent data, smartphones now make up around 85% of all mobile phones in use worldwide.
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Some of the major growth factors and challenges that are associated with the growth of the timing devices market are:
Growth Drivers:
• Increasing use of timing devices in Healthcare and Medical Equipment
• Rise in applications of timing devices in Automotive Sectors
Challenges:
Due to a supply chain gap, it is anticipated that the prices of the raw materials used to make timing devices will rise. Thus, the cost factors limit the growth of the market during the projected period.
By materials, the timing devices market is segmented into timing devices where ceramic, crystal, silicon, and others. The crystal is sub-segmented by single crystal and polycrystal. By the end of 2035, the Silicon segment is anticipated to garner the largest revenue of around USD 7.94 billion, up from a revenue of nearly USD 2.38 billion in the year 2022. Owing to its cheaper price and great quality of the material, the demand for silicon has increased in making timing devices.
By region, the Europe timing devices market, amongst the market in all the other regions, is projected to hold a market share of USD 2.78 Billion at the end of 2035. The growth is expected due to the rising demand for mobile devices in the region. Due to the presence of key companies and the region's well-established automotive and semiconductor sectors, Europe is predicted to account for a significant share of the market. It is also projected that increasing disposable income and the expanding use of timing devices in the healthcare sector will accelerate market expansion in the region.
This report also provides the existing competitive scenario of some of the key players of the timing devices market which includes company profiling of TXC Corporation, Kyocera Corporation, Murata Manufacturing Co., Ltd., Texas Instruments, Renesas Electronics Corporation, Microchip Tech Corporation, ON Semiconductor, NXP Semiconductor, Daishinku Corporation (KDS), SiTime, Analog devices inc., Seiko Epson Corporation.
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https://www.researchnester.com/reports/timing-devices-market/5219