New York, US, March 15, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Frequency Synthesizer Market Research Report: By Component, Type and Application- Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 2.11 billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 6.49% during the assessment timeframe.
Frequency Synthesizer Market Key Players
Eminent industry players profiled in the frequency synthesizer market report include.
- Analog Devices, Inc.
- VIDA Products, Inc.
- EM Research, Inc.
- Ultra Electronics (Herley CTI Division)
- Fei-Elcom Tech, Inc.
- Texas Instruments Incorporated
- L3 Narda-Miteq
- Synergy Microwave Corporation
- Mercury United Electronics Inc.
- Sivers IMA AB
- Micro Lambda Wireless, Inc.
- Signalcore, Inc.
- National Instruments
- National Instruments
- Programmed Test Sources Inc.
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Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 2.11 Billion |
| Growth Rate | CAGR of 6.49% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Increase in the adoption of mobile phones |
| Key Market Drivers | Increasing usage of frequency synthesizer in mobile phone. |
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Frequency Synthesizer Market Drivers
Increasing Adoption from Military & Aerospace Sector to Boost Market Growth
To provide the various frequencies needed for space communication, frequency synthesizers are frequently employed in the aerospace industry. Mobile phones use it to generate specific frequency bands dependent on location, enabling users to communicate in far-off places. Frequency synthesizers are used for high-performance wireless communication in military applications. It is also used in machinery that needs frequent variations in frequency. It is frequently utilized in measuring devices, military applications, and microwave backhaul. In microwave communication equipment, where signal integrity is crucial and great frequency stability and precision are required, a frequency synthesizer is utilized.
Opportunities
Use of 5G Technology to offer Robust Opportunities
The widespread use of 5G technologies has increased the demand for frequency synthesizers in the industry worldwide. The expansion of Internet of Things implementation around the world will be significantly influenced by the adoption of 5G technology across a variety of industries. A high bandwidth principle underlies 5G connectivity, which makes it effective. To cram the most data into a given amount of bandwidth, these 5G technologies must use cutting-edge amplitude and phase-based modulation formats. The frequency synthesizer is one of the most important parts that is intended to provide optimal bandwidth efficiency. Throughout the projected period, frequency synthesizer use in 5G technologies is expected to fuel market expansion.
Frequency Synthesizer Market Restraints and Challenges
Dearth of Skilled Workforce to act as Market Restraint
The complexity of the synthesizer's design is a significant roadblock that could prevent the market for frequency synthesizers from growing. Technical terms like the incidence of temperature variation, frequency inaccuracy, crystal ageing, predicting the switching time, and others call for exceptional accuracy and precision. If this is not done, the complete frequency synthesizer system will malfunction, resulting in communication and networking issues. These synthesizers must be built and installed by a highly skilled crew with technical knowledge. Moreover, a lack of skilled workers could restrain market expansion.
Frequency Synthesizer Market Segmentation
The frequency synthesizer market is bifurcated based on component, type, and application.
By component, the market is bifurcated into loop filter, divider, oscillations, and phase detector.
By type, analog will lead the market over the forecast period. The requirement for great signal clarity and low noise output capability in industries such telecommunication, military, and aerospace is what is responsible for the growing demand for analogue frequency synthesizers.
By application, telecommunication will domineer the market over the forecast period for the booming telecom industry in developing countries of China and India.
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COVID-19 Analysis
A number of industries have changed as a result of the COVID-19 pandemic. Consequently, there was little impact on the frequency synthesizer market. The aircraft business, the field of research, and the telecommunications industry all have significant markets for the product. All of these final consumers were able to endure the impact with very minor scuffs. In fact, the telecoms sector had a massive surge in business, which significantly altered the market's outcome.
Frequency Synthesizer Market Regional Analysis
North America to Head Frequency Synthesizer Market
Over the forecast period of 2017–2023 for the frequency synthesizer market, North America is anticipated to hold a disproportionately large market share. The presence of the majority of the big firms in the area is responsible for the market's dominance. Also, the area has made large investments in the defense, telecommunications, and aerospace industries, all of which have greatly aided the expansion of the frequency synthesizer market. The market in this region is being driven by the presence of numerous major companies in the aerospace and telecommunications industries, rising government spending on defense equipment, and rising investment in technology. Additionally, it is anticipated that greater use of the 3D radar especially for the naval surveillance to bolster maritime security will give the market an edge. In order to regulate climate change activities, the US government is concentrating on airport construction and putting all airports under surveillance. This gives the global market an advantage. For this reason, the US government approved 25 billion for airport security.
APAC to Have Significant Growth in Frequency Synthesizer Market
Throughout the projected period, a rapid rate of growth is anticipated for the Asia Pacific region. This is a result of the 5G frequencies entering the market and rising telecommunications demand in practically all of the region's nations. The rapid advancement of 5G technology and the high density of smartphone users within this region are propelling the expansion of the global market. The Indian government's emphasis on boosting manufacturing and initiatives like MADE IN INDIA provide it an advantage in the international market. India has the potential to grow into a significant 5G network market throughout the predicted period. In terms of military spending, China and India in fact are the second & third most expensive countries, respectively. The market for frequency synthesizers has been greatly supported by the region's rising industrialization, which has encouraged a rise in disposable income and spending on technologically advanced gadgets like smart devices and smart phones. Also, the area is evolving to a manufacturing hub, having an abundance of workforce that is skilled, semi-skilled, unskilled, and highly skilled, which has a significant positive impact on the market.
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Industry Updates
March 2023- In order to speed up its time to market, Baicells Technologies, a leading manufacturer of LTE & 5G network solutions, lately has unveiled the Quanta program. Future Baicells clients will be able to take advantage of Quanta system on the chip program's numerous important advantages, including lower product costs, lower power requirements, and a smaller physical footprint. It will provide LTE & 5G functionality as either a standalone or hybrid network. It includes a frequency synthesizer, digital analogue mixed signal processing, and an integrated RF transceiver having an RF front-end.
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