Global Oven-Controlled Crystal Oscillator (OCXO) Market Report 2023-2028: Burgeoning Opportunities in Rising Demand for Electronic Device Miniaturization, Improved Performance, and Functionality
DUBLIN, Sept. 21, 2023 /PRNewswire/ -- The "Global Oven-Controlled Crystal Oscillator (OCXO) Market by Type, Mounting Scheme (Surface Mount, Through-hole), Application (Consumer Electronics, Telecom & Networking, military & aerospace, Industrial, Automotive, Medical) and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global OCXO market was valued at USD 464 million in 2023 and is projected to reach USD 528 million by 2028; it is expected to register a CAGR of 2.6%
This report offers a comprehensive analysis, with segmentation by region, application, and OCXO type, shedding light on prevailing market trends and opportunities spanning various sectors and regions. It serves as a valuable resource for understanding the dynamic market landscape, explaining shifts in market value, and delving into the factors behind these changes.
Notable trends include the growth of surface mount and EMXO segments, along with an exploration of how the proliferation of 5G installations impacts the demand for OCXOs.
On a global scale, Asia Pacific emerges as the dominant OCXO market, driven by rapid developments in major Asian countries such as China, Japan, Taiwan, and South Korea. Furthermore, the increasing demand for telecommunication services in various Asian nations contributes to this region's prominence.
The surge in population growth and rapid urbanization in countries like China and Japan has accelerated regional development, subsequently spurring demand for OCXOs across industries such as telecom and networking, consumer electronics, military and aerospace, research and measurement, industrial, automotive, and medical sectors.
A detailed analysis of key drivers, including the expansion of the telecommunications industry and the broadening application scope of OCXOs, is provided. Additionally, this report highlights certain challenges faced by the market, such as OCXOs' relatively higher power consumption compared to other oscillators and stability issues in crystal oscillators.
However, it also underscores opportunities arising from the increasing need for high-precision timing and frequency stability due to network densification, the growing demand for electronic device miniaturization, improved performance, and enhanced functionality.
Key market players, including Seiko Epson Corporation (Japan), NIHON DEMPA KOGYO CO., LTD. (Japan), TXC Corporation (Taiwan), Daishinku Corp. (Japan), and Micochip Technology Inc. (US), are instrumental in shaping the OCXO market landscape, contributing to its growth and innovation.
The surface mount segment is projected to grow at a higher CAGR during the forecast period
In 2022, the surface mount segment held a larger share of the OCXO market. The growth of this segment can be attributed to the miniaturization of components, high analog and digital signal transmission speed, high-frequency effects, and improved yield and production efficiency.
Surface-mount oscillators incur low material and production costs and involve a simple production process. Hence, such crystal oscillators are increasingly being used in consumer electronics and telecom & networking applications.
EMXO segment to register growth at higher CAGR
In 2022, the EMXO segment held a larger share of the OCXO market. EMXO's performance is stable and dependable under demanding operational circumstances because of the vacuum-sealed architecture.
EMXOs find applications in battery-powered radio applications, seismic exploration, deep space missions, telecom transmission and switching equipment, wireless communication equipment, and military airborne and mobile systems.
Telecom & Networking application is likely to grow at a higher CAGR
Telecom & Networking application is likely to experience the highest CAGR during the forecast period. The demand for oscillators is expected to grow with the expansion of communication networks as well as the installation of 5G networks in the coming years.
The requirement for reliable synchronization, accurate timing, and precise frequency references in diverse network applications drives the overall demand for OCXOs in the telecom & network industry.
Value Chain Analysis
For more information about this report visit https://www.researchandmarkets.com/r/7i6k02
Research and Markets
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