Quartz Monitor Crystals Market Size, Share, Growth, and Industry Growth by Type (5 MHz Quartz Monitor Crystals and 6 MHz Quartz Monitor Crystals) By Application (Optics, LED, OLED, and Semiconductor), Regional Forecast To 2031

Updated On: 01 April 2024

Quartz Monitor Crystals Market REPORT OVERVIEW

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The global quartz monitor crystals market size was USD 28 million in 2022 and market is projected to touch USD 48.18 million by 2031, at a CAGR of 6.4% during the forecast period.

The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Due to the adaptability of quartz monitor crystals to varied operating circumstances in gaseous or liquid media for a variety of measurements, quartz crystal monitors are currently being used in a variety of sectors. A process sensor that can accurately measure layer thicknesses with 1 Angstrom precision is needed for more sophisticated optical, electrical, and magnetic devices. The importance of coating thickness monitoring has increased. Quartz crystal monitors have become more important as a manufacturing tool during the past several years. Additionally, a quartz crystal sensor is necessary to monitor minuscule fluctuations in thickness precisely for extremely long periods of time since many modern thin-film product manufacturing lines work constantly. Players have been enhancing QCM products with an eye toward making operations more difficult, which will increase its adoption across sectors.

COVID-19 Impact: Material Shortages, Interruptions in Production due to COVID-19 Led to Declined Market Growth

The COVID-19 pandemic had a substantial influence on the world's economies, including travel and labor restrictions, supply chain and production interruptions, and decreased demand and expenditure in a variety of industries. It is anticipated that a sudden drop in infrastructure installation and development projects will impede the growth of the LED business in the residential, commercial, and industrial verticals.

Due to postponed building projects, the growth rate of the LED market decreased. However, the pandemic increased demand for UV LEDs in the medical sector. Due to new government initiatives implemented globally, industry participants also made investments in the research and development of smart lighting systems.

The expansion of the LED market has been constrained by OEMs' gradual output and a decline in demand for lighting systems and other electrical products. The worldwide supply chain was heavily disrupted by component and material shortages. The global economy was also affected by cuts to various capital expenditures and delays in planned projects in various industries. These factors affected market growth during the pandemic.

LATEST TRENDS

"Use of Al in Advanced Optics Will Lead to a Number of Opportunities in the Near Future"

By imitating complex biological processes like learning, reasoning, and self-correction, computers may solve issues using artificial intelligence (AI), a large branch of research. All organisms and systems have the ability to replicate biological processes in order to carry out actions resembling learning and making decisions, concentrating on human cognitive processes. Over the past ten years, Al's use in optical solutions has drawn study attention. Al is frequently employed for the timely discovery of fiber cuts. The Nokia GMPLS wavelength routing technology offers a way to safeguard and restore the functionality of power networks. In order to rearrange network resources to use higher routes, this computes backup fiber routes. Growing demand from various applications will fuel quartz monitor crystals market growth.

Quartz Monitor Crystals Market Segmentation

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• By Type Analysis

By type, the quartz monitor crystals market is segmented into 5 MHz quartz monitor crystals and 6 MHz quartz monitor crystals. 5MHz quartz monitor crystals segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into optics, LED, OLED, and semiconductor. The optics segment will lead the global share through 2028.

DRIVING FACTORS

"Rising R&D Expenditures to Drive Market Growth in Advanced Optics"

Adaptive optics were initially created for the defense sector and are now widely used in a number of defense applications worldwide, including wall imaging systems and missile protection systems. The United States continues to employ adaptive optics to develop high energy laser systems and other purposes due to its substantial defense spending and well-established industrial defense complex. In universities and research labs across the world, there is ongoing study on the uses of optical systems in healthcare. In the medical industry, fiber optic sensors are used to measure pressure, temperature, and oxygen content. Additionally, fiber optic cables employed in medical equipment can be utilized in various contexts for tasks including endoscopic imaging, remote spectrophotometry, pressure, and position sensing.

"Rise in Demand for Affordable and Energy-Efficient LED Lighting to Boost Market Growth"

The LED market is heavily influenced by a number of variables. The market is expanding as a result of the rising need to replace conventional lighting systems and the rise in demand for affordable and energy-efficient LED lighting. The development of the market is hampered by the high initial cost of LED lighting technology and the existence of voltage sensitivity and temperature dependency. Furthermore, it is anticipated that growing usage of smart lighting systems and LED display backlighting would present profitable growth prospects for the quartz monitor crystals market share.

RESTRAINING FACTORS

"Global Scarcity of Semiconductor Chips to Hamper Market Trends Slightly "

Most sectors have been affected by the global scarcity of semiconductor chips, which has also hampered supply chains. The largest impact of decreased chip supply has been seen by the automotive and consumer tech industries, where several companies have been forced to delay product introductions, which will likely result in revenue loss.

Chip supply chains may be restricted for some time to come as demand for them rises steadily. This implies that major semiconductor companies are focusing on creating more resilient supply chains and employing just-in-time models sparingly.

Quartz Monitor Crystals Market REGIONAL INSIGHTS

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In 2020, the market was dominated by Asia Pacific. According to estimates, the market would expand at the greatest pace over the projected period. It is projected that the presence of multiple OEMs in China, Japan, India, South Korea, and Australia would accelerate market growth between 2021 and 2028. The communications, aviation, defense, healthcare, and semiconductor sectors are also expanding, helping to boost the market expansion during the course of the projected period in the nations listed.

In 2020, North America registered a sizable percentage. The market expansion in North America is predicted to be driven by the rising usage of cutting-edge optical technology, such as quantum optics, in the defense, aviation, industrial, and commercial sectors. Additional factors supporting the rising market expansion in North America include high defense spending and the presence of numerous important competitors there.

During the projected period, the European market is anticipated to expand significantly. Europe's market growth is anticipated to be driven by expanding semiconductor, healthcare, automotive, and industrial sectors in the U.K., Germany, and France.

KEY INDUSTRY PLAYERS

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• INFICON (Switzerland)
• Wanshi Electronics (China)
• Jiaxing Jingkong Eletronic (JJK) (China)
• Tieway Technology (China)
• Colnatec (UK)
• Piezo Parts Co., Ltd. (Japan)
• Shalom Denshi Co., Ltd. (Japan)
• OTWOCOM (OTC) (Japan)
• TAITIEN Electronics (China)

REPORT COVERAGE

The examination of many aspects that contribute to the market's growth has been enclosed within the analysis report. Market trends, restrictions, and drivers that have a positive or negative influence on the market make up this category. This section conjointly discusses the numerous sectors and applications that will have a control on the market within the future. the info is predicated on current trends further as historical milestones. This section conjointly includes a breakdown of production volume on the worldwide market and for every class. the quantity of output by region is mentioned during this section. The analysis includes a rating analysis for every kind, manufacturer, area, and worldwide value.