Atomic Clock Market is expected to reach US$ 668.58 million in 2027
According to our latest market study on “Atomic Clock Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type (Rubidium Atomic Clock and CSAC, Cesium Atomic Clock, and Hydrogen Maser Atomic Clock) and Application (Space and Military/Aerospace, Scientific and Metrology Research, Telecom and Broadcasting, and Other Applications),” the market was valued at US$ 418.73 million in 2019 and is projected to reach US$ 668.58 million by 2027; it is expected to grow at a CAGR of 6.2% from 2020 to 2027. The ongoing COVID-19 outbreak is restraining the growth of the global atomic clock market in 2020, and it is likely to continue till early 2021 owing to disruptions in supply chains, decrease in demand and production, and decline in the economic and industrial growth of major regions such as North America, Europe, and Asia Pacific. Hence, there is a decline in y-o-y growth during the year 2020 and 2021. However, the growth is expected to normalize from 2021 onwards, and the market is expected to grow at a steady pace from 2021 to 2027.
Atomic Clock Market in APAC to Grow at Highest CAGR during Forecast Period
Various regulators in developed and developing APAC countries play a significant role in creating favorable growth and investment environment for the adoption of advanced technologies such as 5G and smart grid. The increasing production of an atomic clock is one of the major factors driving the growth of the market in APAC. In APAC, China and Japan are the major producers of cesium and hydrogen maser atomic clocks. In addition, the Indian Space Research Organization (ISRO) has developed its own atomic clock ensemble of cesium and hydrogen maser. ISRO has also been working on high-precision atomic clocks based on rubidium. Further, APAC is anticipated to register the highest CAGR in the global atomic clock market during 2020–2027. The rising use of atomic clocks in satellite antennas in the aviation, telecommunications, and broadcasting applications in India and China is anticipated to boost the market growth in APAC during the forecast period.
Key Findings of Study:
Most of the applications for communication, navigation, financial transactions, distributed cloud, and defense rely on the accurate timing of atomic clocks or clocks that track time based on the highest degrees of atom oscillation accuracy. New applications and technologies such as 5G networks and GPS alternatives need accurate timekeeping on portable platforms, which propels the demand for high performance miniaturized atomic clocks. Defense Advanced Research Projects Agency (DARPA) has invested a considerable amount in the advancement and miniaturization of atomic clock technology over the past few decades, generating commercially available chip-scale atomic clocks (CSACs) and offering unprecedented timing stability regarding size, weight, and power (SWaP). However, the physics associated with their designs limit the performance of first-generation CSACs. For instance, timing errors can be created by calibration requirements and frequency drift, making it difficult to achieve the highest degrees of precision and reliability in a portable package. Thus, next-generation chip-scale atomic clock (CSACs)/miniaturization is anticipated to provide growth opportunities to the atomic clock market during the forecast period.
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