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Time Sensitive Networking Market to Witness Rapid Growth in Next Five Years – TechSci Research
Global Time Sensitive Networking Market
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, 2025”, 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 from 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.
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"Global Time Sensitive Networking Market"
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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 2025 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 2025 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, 2025” 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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