Timing Devices Market - Forecasts from 2022 to 2027

The global timing devices market is expected to grow at a CAGR of 4.54% over the forecast period to reach a market size of US$6.704 billion by 2027, increasing from US$4.913 billion in 2020.

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 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 upgrades. Mobile device adoption and the growing demand for medical and healthcare equipment are driving the market growth.

Further contributing to the significant growth of the market is the growing adoption of advanced automotive electronics and increased demand for mobile gadgets. The timing devices market is expected to be fueled by the development of LTE and 5G technology as well as the evaluation of MEMS-based oscillators. A number of opportunities, such as the development of LTE and 5G technology and the evaluation of MEMS-based oscillators, are expected to fuel the market for timing devices. However, high development costs along with the difficulty of achieving customization are expected to restrain the growth of the market in the coming years.

Growing middle-class population

The middle-class population in developing countries like China, India, and Brazil is growing, which is increasing demand for consumer electronics that use timing devices, especially among millennials and the younger population. Additionally, rapid urbanization and rising disposable income have encouraged major market players to invest in new product launches (in the telecom and communication industry), thus increasing market growth opportunities.

Furthermore, timing devices are used in high-end smartphones, laptops, tablets, and smart tv, among other electronics, and with the continuous development of new technology, the demand is exponentially increasing. Major market players frequently launch advanced timing devices in consumer electronics, which are popular among developing economies' middle-class populations. Furthermore, a growing trend in consumer behaviour toward advanced products and a desire for sophisticated products will aid timing device manufacturers and vendors in their growth during the forecast period.

Application segment insight

The timing devices market is segmented by application into industrial, consumer electronics, telecommunications, automotive, healthcare, and others. Because of the increasing adoption of advanced automated time devices in both industries, consumer electronics and automotive are expected to hold a significant share of the market. A combination of budget smartphones and a growing number of players in the consumer electronics market is expected to drive the growth of the market during the forecast period. In addition, timing devices are widely used in automotive navigation, infotainment systems, and safety control systems, among others, and in recent years there has been an exponential growth in the demand for timing devices in the automotive industry. In the coming years, manufacturers are expected to adopt self-driving cars and vehicle automation to further boost the market growth.

The Asia Pacific is holding a significant share of the market

Timing devices are segmented by geography into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The Asia Pacific region is expected to hold a significant share of the market due to the presence of major players and established automotive and semiconductor industries. Additionally, increasing disposable income and the growing adoption of timing devices in the healthcare industry are expected to boost the market in the region. The North American region is anticipated to witness significant growth on account of the 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 device companies, and with the increasing product launches, the market is expected to witness significant growth in the coming years. In addition, telecommunications and network applications require high-precision devices, and the need for timing devices in the region is expected to grow as communications networks expand and 5G networks are installed.

Key Developments

• March 2021: As per the 23 March 2021 press release by Renesas Electronics Corporation, they have launched three new communication timing ICs. They launched the 8V19N850 as their first fully-integrated 5G synchronization solution, featuring a dual DPLL architecture for frequency translation. In order to meet timing requirements with respect to clock synchronization, the company launched 8V19N880 and 8V19N882. The new timing devices are being launched to relieve the burden of 5G timing constraints and to expand the company's product portfolio for the emerging 5G market.
• May 2019: As per May 2019 report by Epson, two new high-performance three-axis accelerometers were added to Seiko Epson's product lineup. The M-A552AC1 supports CAN communications, while the M-A552AR1 supports EIA-422 communications. In the summer of 2019, samples were shipped, and volume production started in the spring of 2020.

Impact of COVID-19 on the Timing Devices Market

Because of depressed end-market demand, a large share of the electronics market faced a challenge to balance the demand-supply chain during COVID-19. Furthermore, due to a widening quarantine order in major economies in order to minimize the Coronavirus impact, production and supplies of electronic components, such as timing devices, were halted. There was a travel ban with quarantine, uncertainty in the stock market, and a decline in business confidence due to the virus outbreak. It was imperative for technology suppliers to maintain engagement with partners and focus on long-term investments. The electronic devices sector was expected to rebound due to new technologies such as 5G, IoT, and high-performance computing. Revenue generated by the timing device market declined globally. Due to supply chain gaps, raw materials for manufacturing timing devices increased in price. Contrary to this, timing devices are expected to be profitable for the healthcare industry when used in smart medical facilities, such as endoscopes and ultrasound machines.

Segmentation:

• By Type

Oscillators

Semiconductor clocks

Resonators

• By Application

Industrial

Consumer Electronics

Telecommunications

Automotive

Healthcare

Others

• By Geography

North America

• United States
• Canada
• Mexico

South America

• Brazil
• Argentina
• Others

Europe

• Germany
• Spain
• United Kingdom
• Italy
• France
• Others

Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

Asia Pacific

• China
• Japan
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others