DUBLIN--(BUSINESS WIRE)--The "Global Timing Devices Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global timing devices market is expected to grow at a CAGR of 6.84% over the forecast period to reach a total market size of US$7.694 billion by 2025, increasing from US$5.173 billion in 2019.
Timing devices are found in almost all electronic devices that are used to provide timing signals to transmit information at the ideal time and speed to provide ceaseless synchronizing signals; these electronic timers are equipped with the balanced electronic motors and powered by the external source of the altering current. The timing devices market is expected to grow due to growing smart grid technology and continuous technological upgradations.
The rising adoption of mobile devices along with the rising demand for medical and healthcare equipment is driving the growth of the market. Moreover, the growing adoption of advanced automotive electronics along with increasing demand for mobile gadgets is further contributing to the significant growth of the market. The opportunities like the development of LTE and 5G technology and evaluation of MEMS-based Oscillators are expected to fuel the timing devices market. However, high development cost along with the difficulty in achieving customization is expected to restrain the growth of the market in the coming years.
- NXP Semiconductors
- Texas Instruments Incorporated
- Murata Manufacturing Co., Ltd
- Rakon Limited
- Microsemi Corporation
- Microchip Technology Inc
Growing middle-class population
The middle-class population in developing countries like China, India, and Brazil are growing which is increasing demand for consumer electronics that uses timing devices especially among millennials and the young population. Rapid urbanization and growing disposable income have also attracted major market players to invest in new product launches (in the telecom and communication industry), thus propelling the market growth opportunities over the forecast period.
Furthermore, the timing devices are used in high-end smartphones, laptops, tablets, smart TV, among other electronics, and with the continuous development of new technology the demand is exponentially increasing. Major market players frequently launch their advanced timing devices in consumer electronics which is quite popular among the middle-class population in the developing economies. Besides, with a growing trend of consumer behavior towards advance products and desire for sophisticated products is further helping the timing devices manufacturers and vendors to grow during the forecast period.
Application segment insight
By application timing devices market is segmented based on industrial, consumer electronics, telecommunications, automotive, healthcare, and others. Consumer electronics and automotive are expected to hold a significant share in the market on account of the increasing adoption of advanced automated time devices in both industries. In consumer electronics, the availability of budget smartphones coupled with the rising number of players in the market is expected to drive the growth of the market during the forecast period.
Asia Pacific is holding a significant share in the market
By geography, the global timing devices market is segmented as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The Asia Pacific is expected to hold a significant share in the market owing to the presence of major players coupled with established automotive and semiconductor industries in the region. In addition, rising disposable income coupled with the growing adoption of timing devices in the healthcare industry is further anticipated to boost the growth of the market in the region.
North American region is anticipated to witness significant growth on account of early adoption of technology and growing investment in research and development by players in the region. Besides, The European region is home to major timing devices companies and with the increasing product launches the market is expected to witness significant growth in the coming years. Furthermore, telecommunications and networking applications require high-precision devices, and the demand for timing devices in the region is expected to grow with the expansion of communications networks, as well as with the installation of 5G networks in major economies.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Timing Devices Market Analysis, By Type
5.3. Semiconductor clocks
6. Global Timing Devices Market Analysis, By Application
6.3. Consumer Electronics
7. Global Timing Devices Analysis, by Geography
7.2. North America
7.3. South America
7.5. The Middle East and Africa
7.6. Asia Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/kd6bjw