USD 4.09 Billion
Global Real-Time Clocks (RTCs) Market Size, Share, Growth Analysis, By Application(Consumer Electronics, Industrial Applications), By Type(External and Integrated) - Industry Forecast 2023-2030
Report ID:
SQMIG45K2079 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|
Tables:
61 |
Figures:
77
Global Real-Time Clocks (RTCs) Market Insights
Global Real-Time Clocks (RTCs) Market size was valued at USD 4.09 Billion in 2022 and is poised to grow from USD 4.40 Billion in 2023 to USD 7.97 Billion by 2031, at a CAGR of 7.70% during the forecast period (2024-2031).
Real-time clocks (RTCs) are widely used in various industries, including automotive, aerospace, and consumer electronics. An integrated circuit known as a real-time clock IC (RTC IC) is a device that continuously counts seconds, minutes, hours, days, months, and years with leap-year compensation. These ICs have an AM/PM display and come in 12- and 24-hour time formats. Using just one lithium cell, Real-time Clock (RTC) ICs can operate for years.
Even after the main power source is turned off, the RTC IC's battery allows it to continue keeping time. For instance, STMicroelectronics introduced a new line of real-time clocks in January with improved features such as Bluetooth Low Energy support and an integrated temperature sensor that can be used with smartphones and tablets running Android 4.4 or higher software platform. RTCs are found in practically any electronic equipment that requires precise time of day, despite the word being frequently used to refer to the devices in personal computers, servers, and embedded systems. RTC ICs are widely utilised in many applications, including Point-of-Sale terminals, e-metering, gaming devices, burglar alarm systems, and a wide range of additional uses across many different industry verticals. RTCs are widely incorporated into other devices as well, such as the ICs used in vehicle radios for broadband connections.
US Real-Time Clocks (RTCs) Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
External
Fastest Growth
External
Growth Rate
7.70% CAGR
Global Real-Time Clocks (RTCs) Market 2021-2030 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
Global Real-Time Clocks (RTCs) Market Size By Type 2021-2030 ($ Bn)
Global Real-Time Clocks (RTCs) Market Size By Type2021-2030 (%)
To get more reports on the above market click here to Buy The Report
Global Real-Time Clocks (RTCs) Market Segmental Analysis
Global Real-Time Clocks (RTCs) Market is segmented on the basis of type, application and region. By type, the market is segmented into external and integrated. By application, the market is segmented into consumer electronics, industrial applications, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Real-Time Clocks (RTCs) Market Analysis by Application
Due to its broad application across numerous sectors, including healthcare, transportation & logistics, aerospace & defense, the industrial application segment dominated the global market in terms of revenue share in 2022. Additionally, a significant number of R&D activities are being conducted by important industry players to create new goods and services for their specific end-use markets.
Due to growing demand from smartwatch makers and increased acceptance rates among users of other wearable devices, such as fitness bands, the consumer electronics application segment is anticipated to develop significantly over the course of the forecast period.
Global Real-Time Clocks (RTCs) Market Analysis by Type
External RTCs are expected to grow at a CAGR of around 4% during the forecast period. External RTCs are standalone devices that are connected to the system through a communication interface. These RTCs typically have lower power consumption, higher accuracy, and better stability compared to integrated RTCs. The dominant segment in the external RTCs market is the SMBus/I2C interface, which is widely used in consumer electronics and automotive applications
Integrated RTCs are anticipated to expand at a CAGR of about 5%. RTCs that are built into a microcontroller or system-on-chip (SoC) are known as integrated RTCs. When compared to external RTCs, these RTCs are typically less expensive and take up less board space. The SoC/ASIC category, which is utilized in a variety of applications including automotive, industrial, and healthcare, is the dominating segment in the market for integrated RTCs.
Global Real-Time Clocks (RTCs) Market Size By Type 2021(%), 2022 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Real-Time Clocks (RTCs) Market Regional Insights
Asia Pacific is predicted to expand at a CAGR of about 6%. Due to rising consumer electronics and industrial automation demand, Asia Pacific is the region with the largest RTC market. External RTCs, which are widely employed in consumer electronics and automotive applications, are the main market in Asia Pacific. Integrated RTCs, which are finding favour in commercial and medical applications, are the market category that is expanding at the highest rate
North American RTCs market is expected to grow at a CAGR of around 4% during the forecast period. North America is a mature market for RTCs, driven by the high adoption of RTCs in aerospace and defense, automotive, and industrial applications. The dominant segment in North America is the integrated RTCs segment, which is widely used in automotive and industrial applications. The fastest-growing segment is the consumer electronics segment, which is witnessing significant growth due to the increasing adoption of smart wearables and IoT devices.
Global Real-Time Clocks (RTCs) Market Size By Geography, 2021-2030, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Real-Time Clocks (RTCs) Market Dynamics
Global Real-Time Clocks (RTCs) Market Drivers
Increasing demand for Precise and Accurate Timekeeping to Increases Revenue Opportunities
- RTCs are used in various electronic devices and systems that require accurate timekeeping. With the growing demand for more precise and accurate timekeeping in applications such as IoT, wearables, automotive, and industrial automation, the demand for RTCs is also increasing.
- RTCs are a crucial component of IoT devices as they enable these devices to synchronize with other devices and systems. With the increasing adoption of IoT devices and applications across various industries, the demand for RTCs is also expected to grow.
Global Real-Time Clocks (RTCs) Market Restraints
Limited Battery Life to Hinder Market Growth Prospects
- RTCs typically run on batteries, which can have a limited lifespan. This can be a significant challenge in applications where long battery life is critical, such as in wearable devices. The cost of RTCs can be relatively high compared to other electronic components.
Request Free Customization of this report to help us to meet your business objectives.
Global Real-Time Clocks (RTCs) Market Competitive Landscape
These companies compete based on various factors such as product features, price, quality, and innovation. Many of them have adopted strategies such as mergers and acquisitions, partnerships, and collaborations to expand their product portfolio and increase their market share. Additionally, there is a growing trend towards the development of RTCs that consume less power, are smaller in size, and offer greater accuracy and functionality, which is expected to drive competition and innovation in the market.
Top Player’s Company Profiles in Global Real-Time Clocks (RTCs) Market
- Texas Instruments Inc. (US)
- STMicroelectronics (Switzerland)
- Microchip Technology Inc. (US)
- Maxim Integrated Products, Inc. (US)
- NXP Semiconductors N.V. (Netherlands)
- Seiko Epson Corporation (Japan)
- Abracon LLC (US)
- AMS AG (Austria)
- Cymbet Corporation (US)
- Integrated Device Technology, Inc. (US)
- IQD Frequency Products Ltd. (UK)
- KYOCERA Corporation (Japan)
- Micro Crystal AG (Switzerland)
- Murata Manufacturing Co., Ltd. (Japan)
- Pericom Semiconductor Corporation (US)
- Rakon Limited (New Zealand)
- Ricoh Electronic Devices Co., Ltd. (Japan)
- SiTime Corporation (US)
- TXC Corporation (Taiwan)
- Vectron International, Inc. (US)
- EPSON Europe Electronics GmbH (Germany)
- AVX Corporation (US)
Global Real-Time Clocks (RTCs) Market Recent Developments
- In May 2022, Epson Europe Electronics GmbH introduced a new low-power RTC module for IoT applications.
- In April 2022, Texas Instruments launched a new real-time clock for industrial and automotive applications.
- In March 2022, Microchip Technology released a new series of low-power, high-accuracy real-time clock/calendar (RTC) chips for embedded systems.
Global Real-Time Clocks (RTCs) Key Market Trends
- The growing adoption of smart cities is expected to drive demand for RTCs, especially in applications such as smart lighting, transportation, and security systems. This is expected to drive innovation and growth in the market.
Global Real-Time Clocks (RTCs) Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the market growth can be attributed to several factors such as the growing demand for RTCs in various applications such as industrial automation, automotive, and consumer electronics. The increasing demand for RTCs in the automotive industry for the implementation of advanced driver assistance systems (ADAS) and autonomous vehicles is expected to drive market growth. The increasing adoption of IoT devices and the growing trend of smart homes and cities is expected to fuel market growth. Real-time clocks play a critical role in IoT devices by providing accurate time and date information, which is essential for data processing and analysis. The global real-time clocks market is expected to witness steady growth in the coming years, driven by the increasing demand for RTCs in various industries and the growing trend of IoT devices and smart cities.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.09 Billion |
| Market size value in 2031 | USD 7.97 Billion |
| Growth Rate | 7.70% |
| Base year | 2022 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Real-Time Clocks (RTCs) Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Real-Time Clocks (RTCs) Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Real-Time Clocks (RTCs) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Real-Time Clocks (RTCs) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Real-Time Clocks (RTCs) Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Real-Time Clocks (RTCs) Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Real-Time Clocks (RTCs) Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 617-230-0741
