With 58.3% CAGR, Time-Sensitive Networking Market Growth to Surpass USD 1.7 billion

The global time-sensitive networking was valued at USD 0.2 billion in 2023 and is estimated to reach USD 1.7 billion by 2028, registering a CAGR of 58.3% during the forecast period. Increasing demand for deterministic ethernet in real-time applications and increasing adoption of edge computing are the major driving factors for the growth of the time-sensitive networking market.

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Based on type, the IEEE 802.1 AS is expected to dominate the time-sensitive networking market from 2022 to 2028. The growth can be attributed to the need for accurate time synchronization in Ethernet networks that support time-sensitive applications such as audio and video streaming, industrial control systems, and other real-time systems. The standard provides a precise and stable time reference for these applications by synchronizing the clocks in all devices on the network.

Based on components, the switches segment held the largest size of the time-sensitive networking market, and a similar trend is likely to be observed during the forecast period. The growth of automation in the manufacturing industry is projected to create opportunities for adopting TSN switches. With Industry 4.0 and IoT emerging as crucial technologies for industrial automation motion control systems, there is a growing need for interconnected devices on a larger scale, which is likely to drive the demand for TSN switches in the coming years.

Based on end-user, the power and energy segment held the largest share of the time-sensitive networking market and this trend is projected to continue during the forecast period. Power and energy systems demand precise control and monitoring capabilities to maintain grid stability, optimize energy generation and distribution, and respond to dynamic changes in demand and supply. TSN provides deterministic and low-latency communication, allowing for synchronized control and real-time data exchange among devices and subsystems. This enables efficient load balancing, fault detection, remote monitoring, and predictive maintenance in power and energy networks. These advantages of TSN in power and energy are fueling the market growth.

Based on region, North America held the largest share of the time-sensitive networking market, and a similar trend is likely to be observed during the forecast period. North America has been an early adopter of TSN in critical infrastructure sectors such as power and energy, transportation, and defense. These industries recognize the importance of reliable and deterministic communication for their operations and have been actively investing in TSN solutions. This early adoption has provided the competitive advantage to the region in time-sensitive networking market.

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Major players operating in the time-sensitive networking market include Belden Inc (US), Cisco Systems Inc. (US), Texas Instruments Incorporated (US), Siemens (Germany), Marvell Technology Group Ltd. (US), NXP Semiconductor N.V. (Netherlands), Microchip Technology Inc. (US), Analog Devices, Inc., (US), Broadcom Inc. (US), Renesas Electronics Corporation (US). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, and Asia Pacific. These companies have built a strong reputation for their products and services, with a well-established portfolio that reflects their expertise in the industry. Their market presence is robust, backed by strong business strategies that have enabled them to maintain a significant market share.

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This release was published on openPR.