LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global timing devices market to grow to USD 12.52 billion by 2021, at a CAGR of more than 16% over the forecast period, according to their latest report.
The research study by Technavio on the global timing devices market for 2017-2021 provides detailed industry analysis based on end-users (consumer electronics, computing devices, industrial sector, automotive sector, and telecommunications), product type (oscillators, semiconductor clocks, and resonators), and geography (APAC, EMEA, and the Americas).
Timing device products include quartz crystal devices and integrated circuits (ICs) as well as microelectromechanical system (MEMS) timing devices. APAC dominates the global timing devices market, responsible for generating over 80% of the overall revenue due to the presence of a large number of consumer electronics manufacturing facilities in the region.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global timing devices market:
- Increased adoption of smartphones and tablets
- Miniaturization of electronic devices
- Growth in smart grid technology
Increased adoption of smartphones and tablets
“The global timing devices market has observed an increased adoption of MEMS in mobile devices. This trend is driven by their ability to improve the device performance and provide better oscillation for radio-frequency components,” says Sunil Kumar Singh, a lead analyst at Technavio for embedded systems research.
The compact nature of MEMS timing devices also paves the way for slim cellular devices, which are attractive to a large demographic. Also, since a single cellular device uses 3-5 timing devices and the number of cellular devices is witnessing a rapid increase, the global market is set to grow swiftly through the forecast period.
Miniaturization of electronic devices
The miniaturization trend has taken over the consumer electronics segment of the global market. Major vendors such as Samsung Electronics and Apple are involved in the manufacture of miniaturized electronics devices that consume less power while delivering effective performance.
Compact semiconductors and small-sized resonators are very effective and provide efficient performance when size is a constraint. This trend of integrating compact MEMS resonators into consumer electronics will be an extremely important factor impacting the global timing devices market.
Growth in smart grid technology
Smart grid is a framework wherein a class of technology uses automation to integrate the actions of the user and deliver sustainable and secure electricity in the most efficient way by connecting to the electric infrastructure of the user and reducing wastage.
“The smart grid technology makes use of integrated circuits and semiconductor clocks for its working. The extensive use of these two components in smart grids is likely to propel the global timing devices market over the forecast period,” says Sunil.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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