PUNE, India, February 24, 2017 /PRNewswire/ --
According to the new market research report "MEMS Oscillator Market by Packaging Type (Surface-Mount Device Package and Chip-Scale Package), Band (MHz and kHz), General Circuitry (SPMO, TCMO, VCMO, FSMO, DCMO, and SSMO), Application, and Geography - Global Forecast to 2022", published by MarketsandMarkets, the overall MEMS oscillator market was valued at USD 79.2 Million in 2016 and is expected to reach USD 802.8 Million by 2022, at a CAGR of 46.08% between 2017 and 2022.
Browse 67 market data Tables and 61 Figures spread through 152 Pages and in-depth TOC on "MEMS Oscillator Market"
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The rapid growth of mobile infrastructure, electronic wearables, and Internet of Things; and the rising need for electronic device miniaturization, improved performance, and increased functionality are the factors driving the growth of the MEMS oscillator market. The market is further driven by its standardized supply chain with high ramp rates and short lead times.
"TCMOs are expected to cross SPMOs in terms of market share by 2022"
SPMOs held the largest share of the MEMS oscillator market in 2016. However, the market for TCMOs is expected to grow at the highest rate during the forecast period. Growing requirement of high-precision timing components with small size and low cost for portable device applications is expected to drive the market for TCMOs during the forecast period. This market is further driven by the increasing adoption of TCMOs in applications such as networking, industrial GPS, satellites, mobile phones, tablets, data cards, and wearables where dynamic performance is required under environmental stressors.
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"MEMS oscillator market for wearables and Internet of Things application expected to grow at the highest CAGR during the forecast period"
Explosive growth in interconnected devices and increasing adoption of wearable technology where MEMS oscillator is a preferred timing component, owing to its inherent advantages such as small size, low power consumption, and high reliability, are expected to drive the MEMS oscillator market.
"APAC expected to be the largest and fastest-growing market for MEMS oscillators during the forecast period"
The increasing penetration of MEMS oscillators in growing applications, such as wearables and Internet of Things and mobile devices, in APAC is expected to drive the market. This increasing penetration is mainly because of their inherent advantages such as small size, high reliability, and low power consumption. Along with this, the high growth of the market in APAC can be attributed to the relentless LTE activity in China and rapid growth of mobile infrastructure in APAC.
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The major companies involved in the development of MEMS oscillators are SiTime Corporation (U.S.), Microchip Technology Inc. (U.S.), Vectron International, Inc. (U.S.), Abracon Holdings, LLC (U.S.), Daishinku Corp. (Japan), Ecliptek Corporation (U.S.), Jauch Quartz GmbH (Germany), IQD Frequency Products Limited (U.K.), ILSI America LLC (U.S.), and Raltron Electronics Corporation (U.S.), among others.
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