Crystal oscillators are the main components of an electronic device which use piezoelectricity exhibited by certain crystals. These crystal oscillators are applicable across various industries and are replacing tuned circuit owing to their benefits like smaller size, high temperature range and higher Q-factor.

Demand Scenario
The global crystal oscillator market was USD 2.65 billion in 2018 and is estimated to reach USD 3.75 billion by 2023 at a CAGR of 5.09% during the forecast period.

Growth by Region
Asia-Pacific dominates the global market of crystal oscillator owing to the presence of major market players and a series of new product launches and M&As, presence of established consumer electronics firms, and increasing adoption from telecom, networking, consumer electronics, military and aerospace sectors. Asia-Pacific is followed by North America and Europe in which the North American region is anticipated to witness the highest growth rate during the forecast period owing to latest technological breakthroughs.

Drivers vs Constraints
The factors that drive the growth of the market include rise in the number of consumer electronics equipment, increase in advanced automotive technologies, and advancements in healthcare equipment, deployment of 4G LTE & 5G technologies, and the necessity for fast data transmission. The evolution of alternative technologies such as si-MEMS is one of the major factor restraining the growth of the market.

Industry Trends and Updates
In September 2017, Nihon Dempa Kogyo Co., Ltd. (NDK) developed world’s smallest 1210 size low-power-consumption TCXO. It offers the same performance as their conventional 1612 size products while being smaller, lighter and making it ideal for hand-held terminals.