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Quartz Crystal Market: Projected to Grow at a 6.8% CAGR, Reaching USD 8.83 Billion by 2031

06-25-2024 07:55 PM CET | IT, New Media & Software

Press release from: Transparency Market Research

The Global Quartz Crystal Market is set for significant growth, with market valuation projected to soar from USD 4.69 billion in 2021 to USD 8.83 billion by 2031, expanding at a robust compound annual growth rate (CAGR) of 6.8% from 2022 to 2031. This growth is primarily fueled by increasing demand in high-growth sectors such as consumer electronics and IT & telecommunications.

Industry analysts highlight that companies in the quartz crystal market are strategically focusing on key growth sectors to sustain and expand their operations post-COVID-19. The rising demand for consumer electronics-including wearable devices, smartphones, video games, cameras, and computers-is a major driver of market expansion. Additionally, the widespread adoption of 5G networks is set to propel demand further, as quartz crystals are essential for ensuring stable and precise frequencies in digital integrated circuits and high-frequency reference applications.

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Market Dynamics
Quartz crystals are renowned for their ability to vibrate at precise frequencies, making them indispensable in electronic circuits, particularly as resonators. The electronics sector benefits greatly from the high frequency stability and automatic amplitude control properties of quartz crystals. The increasing usage of quartz crystals in a myriad of devices-ranging from cable televisions and communication systems to medical devices and GPS units-underscores their pivotal role in the tech landscape.

Consumer Electronics and 5G Network Expansion
The consumer electronics industry heavily relies on quartz resonators for their high performance and cost-effectiveness. Quartz crystals are integral to the functioning of electronic systems due to their exceptional time accuracy, which is critical for microprocessor-based systems. Leading companies are introducing innovative products to cater to the burgeoning demand in this sector. For instance, Diodes Incorporated offers a range of crystal oscillators for various consumer electronics applications, from mobile devices to household appliances.

The telecommunication sector, particularly with the global rollout of 5G networks, is another significant driver for quartz crystal demand. The deployment of 5G infrastructure necessitates high-frequency stability and low phase noise, which quartz crystals provide. Companies like Abracon, LLC are expanding their product portfolios to meet the specific needs of 5G applications, ensuring high precision and performance.

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Regional Market Insights
Asia Pacific dominated the global quartz crystal market in 2021, accounting for 39.25% of the market share. The region's growth is attributed to the presence of major market players, technological advancements, and significant investments in the consumer electronics industry, particularly in China and Japan. North America follows, driven by increased government initiatives and rising demand in the automotive, IT, and healthcare sectors. The U.S. remains a key player in the North American market.

Key Market Players
The global quartz crystal market is consolidated, with key players including Abracon, ACTE A/S, Diodes Incorporated, DK Photonics, KYOCERA Crystal Device Corporation, Micro Crystal AG, Microchip Technology Inc., Nihon Dempa Kogyo Co., Ltd., RIVER ELETEC CORPORATION, Seiko Epson Corporation, SiTime Corporation, and TXC Corporation. These companies are focusing on R&D, expanding product portfolios, and strategic mergers and acquisitions to strengthen their market position.

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About Us Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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