Timing Devices Market Will Reach USD 8,893.2 Million By 2030

In 2023, the worldwide timing devices market yielded revenue of USD 5,518.8 million, and it is forecasted to experience a compound annual growth rate (CAGR) of 7.3% from 2024 to 2030. By 2030, it is anticipated to reach a total revenue of USD 8,893.2 million.

This can be credited to the growing attention of people in electric products, like wearable devices, to advance their lifestyles. Timing devices offer such electronic products with signals for conveying data at the exact time. Executing such principles to quartz crystals, MEMSs, and ceramic resonators makes it likely to produce oscillations with stable frequencies.

In 2023, based on type, the oscillators category dominated the market with the largest share, of 40%. Players increasing their portfolio with new and enhanced variants of oscillators. Such devices are made to bring high performance even in risky conditions in aerospace for defense applications, like positioning, navigation, timing, tactical communications, network synchronization, and surveillance.

For example, in November 2022, Renesas Electronics Corporation showcased the VersaClock 7 clock generator which supplied a low power consumption, easy production, and compact size.

Timing devices are utilized in many sectors or several applications like telecommunication, medical & healthcare, military and banking, financial services, and insurance. Consumer electronics dominate the application segment, accounting for the largest share, as timing devices find widespread usage in computers, cell phones, and various other consumer products. In this context, these devices play a crucial role in providing timing signals for data transmission at optimal timing and speed, as well as for synchronization purposes.

In 2023, the North American region had approximately 30% revenue share, and the region is projected to advance at a substantial rate during the projection period. This can be credited to the existence of major market players, the growing need for extremely accurate timing across applications, the rising semiconductor sector, the growing acceptance of IoT, and enhancing timing technologies.

The increasing acceptance of such instruments in enhanced medicinal equipment, telecommunications, BFSI, and vehicles and the ongoing research and development activities are projected to advance the industry development potential.

APAC is projected to be the largest and fastest-rising industry over the projected period. In the APAC region, China is the largest industry because of the existence of several automotive and electronics businesses. Additionally, China and Japan are industrial centers for electric devices and their components, which need timing devices.

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Vapor Deposition Market Will Touch USD 85.1 Billion in 2030

The vapor deposition market was USD 44.4 billion in 2023, which will increase to USD 85.1 billion, advancing at a 9.9% CAGR, by 2030.

This can be mainly because of the developments of the electronics & solar power sectors and the mounting need for semiconductors in vehicles. Furthermore, the rising requirement for medical devices, the growing LED device sector, and different environmental rules boost this industry.

Moreover, the growing semiconductor sector is also a key driver for the industry expansion. Semiconductors are essential in nearly every sector, including automotive, consumer electronics, and medical equipment, assisting realize the ideas of a smart city.

The chemical deposition category, based on process, led the industry in 2023, with a 70% share, and it will remain leading throughout this decade. This can be because of the swift advancement in the chemical vapor deposition technology, which boosts its acceptance across different applications. 

The equipment & film coating category, based on application, was the largest contributor to the vapor deposition market in 2023, with a 30% share. Moreover, the category will remain the largest throughout this decade. This can be primarily because of the surging need for finishing on semiconductor substrates. 

The electrical & electronics category, based on end user, accounted for the largest share of the industry in 2023, of 30%. Moreover, the category will further advance at a strong rate in the years to come. The largest share of the category is because of the increasing need for electronics and electrical components across different sectors. 

APAC was the largest contributor to the industry in 2023, with approximately 60% share. Moreover, the regional industry will further advance at a strong rate in the years to come. This can be because the region has a widespread manufacturing capacity for automotive as well as automotive parts, solar PV modules, and semiconductors. 

Furthermore, the rising pace of growth in the electrical & electronics sector in APAC particularly displays and microelectronics of TVs, computers, and smartphones, boosted the expansion.

North America will advance at the fastest rate in the years to come, primarily because of the constant industrialization in this region. In addition, governments in both Canada and the U.S. are taking initiatives to boost semiconductor production in this region.

With the rising requirement for semiconductors in automobiles, the vapor deposition industry will continue to grow in the years to come.

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