CHICAGO, June 16, 2023 /PRNewswire/ — The global Oven-Controlled Crystal Oscillator (OCXO) Market was valued at USD 464 million in 2023 and is projected to reach USD 528 million by 2028, registering a CAGR of 2.6% during the forecast period according to a new report by MarketsandMarkets™. The expanding telecommunications industry and widening application scope of OCXOs are among the factors driving the growth of the OCXO market.
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Browse in-depth TOC on “Oven-Controlled Crystal Oscillator (OCXO) Market”
110 – Tables
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150 – Pages
Oven-Controlled Crystal Oscillator (OCXO) Market Report Scope:
|
Report Coverage |
Details |
|
Market Revenue in 2023 |
$464 million |
|
Estimated Value by 2028 |
$528 million |
|
Growth Rate |
Poised to grow at a CAGR of 2.6% |
|
Market Size Available for |
2019–2028 |
|
Forecast Period |
2023–2028 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Type, Mounting Scheme, Application and Region |
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Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Key Market Challenge |
High manufacturing costs compared with other oscillators |
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Key Market Opportunities |
Growing need for high-precision timing and frequency stability due to network densification |
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Key Market Drivers |
Expanding telecommunications industry |
By Mounting Scheme and Type: Surface mount accounted for the largest share of the OCXO market in 2028.
In 2022, the surface mount held the largest share of the oven-controlled crystal oscillator (ocxo) Industry. 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. In 2022, the EMXO 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. Hence, such OCXOs are increasingly being used in consumer electronics and telecom & networking applications.
By Application: In 2028, Telecom & Networking segment accounted for the largest share of the OCXO market.
Telecom and Networking segment accounted for the largest share of the OCXO market in 2028. Telecom & networking is a fast-growing sector due to the high dependence on the internet for the sustenance of modern-day activities. With the increasing deployment of 5G networks, the installation of multiple small cells to complement large cell towers and provide seamless coverage is growing. 5G is intended to support new technologies, such as autonomous vehicles and other use cases that will require near-real-time connectivity.
Thus, it is most suitable for the field of mobile communication. 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.
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Asia Pacific likely to hold the largest share of the OCXO market during the forecast period.
Asia Pacific held the largest share in the oven-controlled crystal oscillator (ocxo) companies in 2022 and is also expected to witness the highest CAGR during the forecast period. The growth in the region is attributed to the presence of numerous ecosystem players such as Seiko Epson Corporation (Japan), NIHON DEMPA KOGYO CO., LTD. (Japan), TXC Corporation (Taiwan), KYOCERA Crystal Device Corporation (Japan), and Daishinku Corp. (Japan).
Additionally, the market growth in this region can be attributed to the increased demand for various consumer electronic devices in countries such as China, Taiwan, and Japan. The market is expected to witness growth in the coming years owing to the adoption of different industrial solutions in the regional automotive industry, as well as the required government support in this regard.
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