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Market Analysis
Market Research Future (MRFR) projects the global frequency synthesizer market size to hit approximately USD 1,707 million at a CAGR of 6% from 2017 to 2023 (forecast period).
Increasing Use of Smartphones
Due to a rise in demand for advanced electronics across several business verticals, the frequency synthesizer market size is predicted to develop significantly during the forecast period. Furthermore, a surge in the use of frequency synthesizers in mobile technology is one of the primary reasons driving the growth of the worldwide Frequency Synthesizer Market . The demand for and use of smartphones and mobile phones is skyrocketing all over the world. The widespread use of cellular devices necessitates the use of frequency synthesizers to generate clearer signals. Furthermore, increased demand for ICs that use radio frequencies fuels the growth of the global frequency synthesizer market. Furthermore, forthcoming advances in mobile networking technologies, such as the 5G network, drive market expansion, as many businesses invest in the industry to broaden their market reach. As a result, all of these variables are likely to generate opportunities for market expansion.
Key Players
The prominent players in the frequency synthesizer market are – Ultra Electronics (U.K.), Texas Instruments Inc. (U.S.), Analog Devices Inc. (U.S.), National Instruments (U.S.), Qorvo, Inc. (U.S.), FEI-Elcom Tech Inc. (U.S.), Sivers IMA AB (Sweden), Programmed Test Sources Inc. (U.S.), Synergy Microwave Corp. (U.S.), Mercury United Electronics Inc. (U.S.) among others.
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High Demand from Military and Aerospace Sector
A frequency synthesizer is widely used in the aerospace sector to generate the various frequencies required for space communication. It is used in mobile phones to generate distinct frequency ranges based on location, allowing users to interact in remote locations. In military applications, frequency synthesizers are utilized for high-performance wireless communication. It is also utilized in equipment that requires rapid changes in frequency. It is widely used in measuring instruments, military, and microwave backhaul. A frequency synthesizer is used in microwave communication equipment where signal integrity is important, and high frequency stability and precision are dependent on it.
Lack of Skilled Workforce
The complex design of the synthesizer is a major barrier that has the potential to hinder the market expansion of frequency synthesizers. There are various technical jargons that require extreme accuracy and precision, such as the occurrence of frequency inaccuracy, temperature variation, aging of crystals, estimating the switching time, and others. If this is not done, the entire frequency synthesizer system will be disrupted, causing problems with networking and communication. The manufacture and installation of these synthesizers necessitate a highly skilled workforce with technical understanding. A shortage of skilled labor may also stifle market growth.
Market Segmentation
By Application, Telecommunications Sector to Lead the Global Market
The market's telecommunications sector is expected to grow rapidly throughout the estimated period. The primary reason is the growing consumer electronics sector as a result of the global increase in disposable income.
Regional Analysis
North America to Dominate the Global Market
Due to the presence of prominent industry participants in the region, North America is likely to dominate the frequency synthesizer market and account for the greatest market share. The region has made significant investments in military and aerospace, telecommunications, and research, all of which are contributing to market expansion.
APAC to Witness the Fastest Growth
The Asia Pacific region is the fastest expanding in the frequency synthesizer market, owing to upcoming 5G technologies in the telecommunications industry and the growth of numerous small and medium-sized firms from the region.
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