According to the latest research report on "Clock Buffer Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to grow from US$ 2,112.53 million in 2021 to US$ 3,579.91 million by 2028; it is estimated to grow at a CAGR of 8.0% from 2022 to 2028.
Rising Number of Data Centers Globally to Drive Market
The role of data centers in the modern economy has become increasingly significant, with businesses of all sizes relying on them for their computing needs. To ensure precise timing for hyperscale applications and colocation data center clients, clock buffer manufacturers like Microchip and Renesas offer various timing solutions that guarantee accuracy, security, and robustness. Renesas, for example, recently launched clock buffer and multiplexer solutions for IoT, machine learning, cloud computing, AI, and data centers. As more industries explore the benefits of data center services and cloud offerings, companies like Colt invest in hyperscale data centers in Europe and Asia-Pacific. This growth in data center usage drives the demand for clock buffer products that enable accurate time synchronization, presenting opportunities for the clock buffer market.
The COVID-19 pandemic presented significant challenges for various industries in 2020 and early-to-mid 2021, with many people working from home due to social distancing measures. Initially, the clock buffer market suffered due to supply chain disruptions and reduced growth in industries such as automotive, consumer electronics, and IT & telecommunications. However, with the increasing adoption of work-from-home practices, sales of electronic devices have risen, and the clock buffer market in the MEA is expected to recover in the coming years. Digitization and virtual working environments have also propelled demand for high-storage capacity servers across various industries in the MEA, while in Europe, data centers have emerged as computational hubs for enterprises and end-users due to the growing number of work-from-home jobs. Consequently, the need to improve data center performance and accommodate the unprecedented rise in data generation has led to the construction and renovation of data centers, contributing to the growth of the clock buffer market. Overall, the expanding number of data centers and the increased adoption of consumer electronics products as a result of work-from-home practices are driving demand for clock buffer and fueling the growth of the market.
The global clock buffer market is experiencing significant growth due to the rapid evolution of electronic devices and the widespread adoption of digitization. The market is further driven by the broad application of clock buffers in various industrial verticals, including consumer electronics, automotive, telecommunications, aerospace & defense, and medical & healthcare, for wired and wireless communication, optical communication, and digital circuits. The major players' increasing strategic initiatives also fuel the clock buffer market's growth. Renesas Electronics Corporation, for instance, introduced the first clock buffers and multiplexers that meet the demanding PCIe Gen6 specifications in 2022.
Key Findings of Study:
The global clock buffer market is categorized into five primary regions, namely North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). North America, comprising the US, Canada, and Mexico, is a significant player in the global clock buffer market, with end-users showing a greater awareness of clock buffers. The US government's new bipartisan proposal on May 6, 2022, to fuel the country's printed circuit board (PCB) sector has been welcomed by many established companies in the electronics manufacturing industry. The bill supports the CHIPS Act of 2021 and American Printed Circuit Boards Act of 2022, providing key operating players in the North American clock buffer market with lucrative opportunities in the coming years.
The clock buffer market is sub-divided into India, China, Japan, Australia, and the remaining regions in the Asia Pacific region. As a result of the COVID-19 pandemic, several governments in the region have had to revise their procurement approaches for purchasing upgraded devices such as personal computers, laptops, and desktops, as well as general-purpose server equipment from designated suppliers and manufacturers. This has resulted in an increased demand for other communication systems, including routers, modems, wire, and wireless electronics systems (panels), and other peripherals, which presents lucrative opportunities for key vendors operating in the clock buffer market.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@premiummarketinsights.com