Time Sensitive Networking Market to Witness Rapid Growth in Next Five Years
Rapid adoption of IoT applications
across manufacturing facilities and increasing demand for real-time networking
across different industry sectors to drive the global time sensitive networking
market through 2026.
According
to TechSci Research report, “Global Time
Sensitive Networking Market By Component (Switches, Hubs, Routers &
Gateways, Controller & Processors, Isolators & Convertors, Connectors, Communication
Interfaces, Others), By Application (Industrial Automation, Power & Energy,
Automotive, Transportation, Oil & Gas, Aerospace, Others), By Region, Forecast
& Opportunities, 2026”, the market is expected to witness a significant CAGR
during the forecast period on account of growing adoption of industrial IoT
& industry 4.0 solutions and increasing need for real-time networking across
various sectors such as oil & gas, manufacturing, automotive,
transportation and aerospace. Moreover, growing interest in the industrial IoT
and its related data and high demand for industrial automation application from
various segment such as machine-to-machine communication and motion control
applications are also boosting the growth of global time sensitive networking
market. Apart from this, increasing investments and new product launches by key
vendors operating in the market are expected to drive the global time sensitive
networking market growth over the next five years. Additionally, supportive
government policies and regulations pertaining to safety and environmental
hazards are some other major factors propelling the growth of global time
sensitive networking market. The rising adoption of autonomous vehicles is
pushing market players to develop innovative TSN components. However, the inability
of time sensitive networking standards to provide customized solutions are
hampering the market growth.
Time Sensitive Networking is a set of IEEE standards
that enables collection of real time data to perform analytics, increase
productivity of the system, and gain operational insights. With the rapid
development of standards, time sensitive networking is set to provide
calculable end-to-end latencies for improved and real-time delivery of ethernet
networks.
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The global
time sensitive networking market is segmented based on component, application,
and region. Based on component, the market can be split into switches, hubs,
routers & gateways, controller & processors, isolators &
convertors, connectors, communication interfaces and others. Among them, the switches
segment is expected to dominate the market during the forecast period on
account of increased usage of time sensitive networking enabled switches in
various end user applications.
Based
on application, the global time sensitive networking market can be categorized
into industrial automation, power & energy, automotive, transportation, oil
& gas, aerospace and others. Out of them, the automotive segment is
expected to dominate the market through 2026 as time sensitive networking uses
deterministic ethernet which helps to make wiring harness affordable and light
in weight.
Leading players operating in the global time sensitive networking market
are Cisco Systems, Inc., NXP Semiconductor N.V., Marvell Component Group Ltd.,
Microsemi Corporation, Intel Corporation, National Instruments Corporation,
Xilinx, Inc., Analog Devices, Inc., Broadcom Limited and Belden Inc., among
others. Major companies are developing advanced technologies and launching new
services in order to stay competitive in the market. They are investing heavily
on developing TSN components for next generation 5G network. Moreover, market
players are also undergoing inorganic growth strategies such as mergers &
acquisitions, strategic partnerships and collaborations in order to increase
their share in global time sensitive networking market.
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“North
America is expected to dominate the overall time sensitive networking market through
2026 owing to the increased penetration of industrial automation solutions.
Additionally, supportive government initiatives to encourage the adoption of industrial
automation among various manufacturing and automotive industries are also
providing lucrative growth opportunities for time sensitive networking market.
The region has also witnessed rise in the
number of manufacturing companies which is further supporting the time
sensitive networking market growth,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Global Time Sensitive Networking Market By Component
(Switches, Hubs, Routers & Gateways, Controller & Processors, Isolators
& Convertors, Connectors, Communication Interfaces, Others), By Application
(Industrial Automation, Power & Energy, Automotive, Transportation, Oil
& Gas, Aerospace, Others), By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of time
sensitive networking market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in global time
sensitive networking market.
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