A crystal oscillator is an electronic oscillator circuit, which utilizes the mechanical resonance of a vibrating crystal of piezoelectric material such as quartz to develop an electrical signal with a very accurate frequency. This frequency is commonly used to keep track of time in order to provide a stable clock signal. Therefore, it is used in all those products which utilize the concept of precise and stable clocks. Crystal oscillator finds its applications in a wide range of products spanning domains such as military and aerospace, research and measurement, industrial, automotive and consumer products. The growth rates of these domains majorly determine the growth rate of the market.
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Consumer products which include radios, television sets, cellular phones, cordless phones, computers, pagers, VCRs etc., have been growing for decades. Increasing penetration of smartphones and tablets is expected to be a significant driver for the market. In addition, healthcare devices require crystal oscillators in products such as pacemakers. Therefore, the constantly evolving medical industry is expected to fuel the market.
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Growing research and developments in certain fields require a variety of measuring instruments, which works on the principle employed by crystal oscillators and hence use them extensively. Introduction of Quartz MEMS technology is a future opportunity for the market, and adopting standard semiconductor processes and high volume plastic packaging is expected to significantly improve the lead time and availability of oscillator procurement.