Timing Devices Market

Timing Devices Market Size (2024 - 2029)

The global timing devices market size, valued at USD 5.5 billion in 2023, is anticipated to reach USD 8.29 billion by 2029, with a growth rate (CAGR) of 7.1% during the forecast period.

The timing device is a specialized type of watch used to measure the interval of time elapsed in hours, minutes, seconds, and fraction of a second. Small timekeeping devices are pocket instruments with mechanical and hand movements, especially for displaying elapsed time. Timer devices are widely used in the consumer electronics industry for portable and portable electronic devices because they have low power consumption, a high degree of stability, and accuracy.

Timing devices are instruments used for the purpose of measuring elapsed time intervals in segments such as hour, minute, second, and fraction of a second. Small timekeeping devices are made like pocket instruments and wrist instruments, usually with mechanical movements and in terms of hands to show elapsed time. Large center table timing devices and panel mounted units are manufactured, including demo timers.

Recent Developments

• Microchip Technology MCHP recently announced the acquisition of Tekron International Limited to increase its offerings in the Frequency and Timing Systems business division.
• Microchip Technology Inc. (Nasdaq: MCHP) announced the acquisition of Tekron International Limited, a world leader in providing high-precision GPS and atomic clock timing technologies and solutions for smart grid and other industrial applications. The terms of the agreement are confidential.
• Kyocera Corporation (President: Hideo Tanimoto) announced that it has successfully developed a proprietary technology to produce MEMS silicon resonators for the silicon MEMS market.

IMPACT OF COVID-19 ON TIMING DEVICES MARKET

In response to the Coronavirus crisis, much of the electronics market faces the challenge of balancing supply chain with demand, due to depressed end-market demand. In addition, due to the expansion of quarantine orders in major economies to minimize the impact of coronaviruses, the production of electronic components, such as timing devices, as well as supply end users, is stopped. The virus outbreak has required quarantined travel bans, uncertainty in the stock market, and falling business confidence. However, technology providers try to remain committed to their partners and focus on long-term investments. The integration of emerging technologies such as 5G, IoT and high-performance computing should be critical for a global rebound in the electronics industry. Prices of raw materials needed to make time devices are expected to rise, due to gaps in the supply chain. Also, due to the crisis scenario, the global revenue generated by the sync device market is expected to decline in the coming months. On the contrary, the use of stopwatches in smart medical facilities such as endoscopes and ultrasound equipment should be lucrative for the healthcare industry.

REPORT COVERAGE

Drivers and Restraints of Timing Devices Market

Drivers:

The increasing use of these devices in automotive electronics is expected to drive the global timing device market during the forecast period. They are used in car navigation systems, audiovisual equipment in vehicles, safety control systems, and driving control systems. These are also used in Big Data Cloud applications due to their ability to interact with commonly used storage ICs, better synchronization, and improved system optimization. Most of these devices are temperature sensitive and difficult to design.

Restraints:

The cyclical nature of the semiconductor industry acts as a factor preventing the market for timing devices from reaching its full potential. The biggest challenge MEMS oscillators face is that they synthesize the output frequency of only a few MEMS resonator designs. The presence of a PLL between the MEMS resonator and the output does not actually generate a good quality signal like the quartz-based design. This acts as a restraining factor in the growth of the global Timing Devices market.

Timing Devices Market Segmentation

By Product type:

• Oscillator
• MEMS Oscillator
• Crystal Oscillator
• Resonator
• Clock Generator
• Jitter Attenuator
• Clock Buffer

Oscillators are expected to be the fastest growing segment due to improved aid to the automotive and consumer electronics segment. The growth of the portable and portable electronics segment is supposed to drive demand for oscillators. MEMS oscillators combine low power consumption with accurate frequency output and are gaining more and more popularity. MEMS technology saves energy and miniaturizes electronics while providing high precision and stability. The market for timing devices is expected to grow due to the adoption of MEMS technology.

By Material type:

• Crystal
• Ceramic
• Silicon

By Industry vertical:

• Consumer Electronics
• Automotive
• IT & Telecommunication
• Aerospace and Defense
• Healthcare
• Others

Timing devices are used in the automotive industry in audio systems, car navigation system, infotainment system, intelligent driver assistance system, and safety control systems. It is also used in industrial applications such as ultrasonic equipment, safety equipment, smart energy meters, and machine vision equipment.

Timing Devices Market Region wise analysis

Marked Segmentation based on the region:

1. North America
   1. U.S
   2. Canada
2. Europe
   1. Norway
   2. Germany
   3. Sweden
3. Asia Pacific
   1. China
   2. India
   3. Japan
4. Latin America
   1. Brazil
   2. Mexico
   3. Argentina
5. Middle East and Africa

a. Middle East

b. Africa

The market for timing devices in the United States was estimated at US $ 1.3 billion in 2020. China, the world's second-largest economy, is estimated to reach a projected market size of US $ 1.5 billion by 2027, with a compound annual rate of 9.4% during the foreseen period. Other notable geographies include Japan and Canada, each forecasting growth of 3.3% and 5.5% respectively. In Europe, Germany is estimated to grow at a 3.9% CAGR. Geographically, the market for timing devices is primarily driven by the Asia-Pacific region. The increasing call for timing ICs in the automotive and consumer electronics industries is promoting the Asia-Pacific business. The increasing demand for MEMS and crystal oscillators in broadcast transmitters and mobile phones is expected to rapidly accelerate the market for timing devices. This region is expected to maintain its dominance in the market during the forecast period due to the presence of a large number of manufacturers of consumer electronics equipment in countries such as China, South Korea and Japan, among others.

Key Players of Market

Asahi Kasei Corp., Kyocera Corp., Microchip Technology Inc., Murata Manufacturing Co. Ltd., NXP Semiconductors NV, Oscilent Corp., Renesas Electronics Corp., Seiko Holdings Corp., STMicroelectronics NV, Texas Instruments Inc., etc., are a few of the key vendors in the timing devices market.