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Based on cut, the market is segmented into AT, BT, SC, CT, and others. The SC segment dominated the market in 2023 with a market share of over 30%.
Based on type, the market is segmented into XO - Clock Oscillator, VCXO - Voltage Controlled Crystal Oscillator, TCXO - Temperature Compensated Crystal Oscillator, VCTCXO - Voltage Controlled Temperature Compensated Crystal Oscillator, and OCXO - Oven Controlled Crystal Oscillator. The VCXO - Voltage Controlled Crystal Oscillator segment is anticipated to register a CAGR of over 1.5% through 2032.
North America dominated the global crystal oscillator market with a share of over 30% in 2023. North America's proven leadership in the aerospace industry is expected to fuel the regional semiconductor market growth. The expansion is further facilitated by government efforts that foster technological innovation and rising research & development expenditures. Furthermore, the strong presence of defense contractors and aerospace manufacturers is also fueling the market for state-of-the-art semiconductor technologies. Owing to its focus on sophisticated automation, defense applications, and aviation safety, North America is positioned to become a major hub for semiconductor growth in the rapidly expanding aircraft business.