Market Analysis
The global market report containing details of the frequency synthesizer market predicted a possibility of scaling past USD 1,707 million by 2023 at 6% CAGR during the forecast period encompassing 2017 to 2023. Market Research Future (MRFR) claims that this market would benefit from the rising incorporation of latest technologies in end users like aerospace and telecommunication, hike in investment to promote research-related activities, better structural support, rising demand for mobile phones, inclusion of 5G technologies, and others. High-performance wireless communication in the aerospace and defense sector would ensure strong growth for the market.
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 Share 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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