ID: MRFR/ICT/9043-HCR | 141 Pages | Published By Shubham Munde on March 2023
The time-sensitive networking market is expected to reach USD 79.9 million in 2019 and to grow at a compound annual growth rate (CAGR) of 53.87% from 2020 to 2027.
$USD 79.9 Million
53.87%
North America
2020-2027
Market Snapshot:
With the advancement of the Industrial Internet of Things (IIoT), a widely-distributed network in the field of training needs to be distributed and replicated in time. Nowadays, industrial systems have been expanded from narrow closed networks to IIIoT, requiring stable, interconnected, remote and safe access to all network components. Established Ethernet would no longer appeal to consumers which want to integrate Internet of Things (IoT) concepts into their manufacturing networks to boost efficiency, enhance regular operating time or minimize maintenance. Time-sensitive networking (TSN) is designed to reshape the industrial connectivity environment and to create a framework for the integration of information technology (IT) and industrial operations technology (OT). While introducing environmental robustness and reliability to Ethernet, TSN (Time-Sensitive Networking) offers connectivity technology that enables interconnection between standard-compliant industrial devices from any vendor.
Moreover, time-sensitive networking (TSN) eliminates the need for the physical isolation between essential and non-critical information networks, thereby enabling the free sharing of data between operations and enterprise. Time-sensitive networking (TSN) can be used in manufacturing applications as a mix of switched endpoints which switches and includes related software. It can be used in manufacturing applications as a combination of switched endpoints which controls and includes related software.
The global time-sensitive networking market size is expected to attain a market size of USD ~79.9 million in 2019 and is estimated to register a compound annual growth rate (CAGR) of ~53.87% from 2020 to 2027.The market is propelled by a growing number of smart connected devices, a need to boost business productivity and a growth in dependence on the Internet.Increased demand for real-time networking through industry sectors, such as manufacturing, automobile, transport, energy & utility, aerospace, and oil & gas, is also helping the market to expand.
Segmentation
The global time-sensitive networking market has been segmented based on types of standards, component, application, and region.
Based ontypes of standards, the global time-sensitive networking market has been divided into IEEE 802.1AS, IEEE 802.1 Qca, IEEE 802.1AS-Rev, IEEE 802.1Qbv, IEEE 802.1 Qci, IEEE 802.1 CB, IEEE 802.1 Qcc, IEEE 802.1Qch, and IEEE 802.1 CM .
Based on component,the global time-sensitive networking market has been divided into switches, hubs, routers, and gateways, controller and processors, isolators andconvertors, connectors, communication interfaces, power supply devices, memory, and others .
Based on application,the global time-sensitive networking market has been divided into industrial automation, power and energy, automotive, transportation, oil & gas, aerospace,and others .
Regional Analysis
The global time-sensitive networking market is estimated to register a robust CAGR over the forecast period. The geographic analysis of the global time-sensitive networking market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America is expected to be the dominating region in terms of the adoptiontime-sensitive networking solutions. North America's time-sensitive networking market leads the overall revenue share of 2019, driven by the emergence of Industry 4.0 across the country. Supportive government policies for increased penetration and industrial automationare expected to have a direct effect on industry.The time-sensitive networking market in Asia-Pacific region is projected to grow at the fastest rate over the forecast period, with the regional market being segmented into China, Japan, India, and the rest of Asia-Pacific. This growth is attributed to the rapid economic developments and increasing awareness for time-sensitive networking in major countries including China, Japan, India
Impact of COVID19
The global economy has reported several disruptions in the day to day business operations across industry verticals due to the outbreak of novel coronavirus globally. The enforcement of lockdown and other movement restrictions for several months to prevent the sperad of deadly virus has impacted on the rapid transformation in the working culture. The increasing adoption of time-sensitive networkingacross the globe owing to it enables richer infotainment and diagnostics systems and faster services updates.
Key Development :
Key Players
The key players in the global time-sensitive networking market are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These includeCisco Systems, Inc. (US),NXP Semiconductor N.V. (Netherlands), Marvell Technology Group Ltd. (US), Microsemi Corporation (US), Intel Corporation (US), National Instruments Corporation (US), Xilinx, Inc. (US), Analog Devices, Inc. (US), Broadcom Limited (Singapore), Belden Inc. (US), Renesas Electronics Corporation (Japan), and TTTech Computertechnik AG (Austria) . The key strategies adopted by most of the players are partnerships, acquisitions, agreements, and collaborations
Global Time-Sensitive Networking Market, 2018–¬2027 (USD Billion)
Source: MRFR Analysis
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size | USD ~79.9 Â million |
CAGR | 53.87% |
Base Year | 2019 |
Forecast Period | 2020-2027 |
Historical Data | 2018 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Component, Application |
Geographies Covered | North America, Europe, Aisa Pacific |
Key Vendors | NXP Semiconductor N.V. (Netherlands), Marvell Technology Group Ltd. (US), Microsemi Corporation (US), Intel Corporation (US), National Instruments Corporation (US), Xilinx, Inc. (US), Analog Devices, Inc. (US), Broadcom Limited (Singapore), Belden Inc. (US), Renesas Electronics Corporation (Japan), and TTTech Computertechnik AG (Austria) |
Key Market Opportunities | |
Key Market Drivers | Time-sensitive networking (TSN) can be used in manufacturing applications as a mix of switched endpoints which switches and includes related software. |
The global time-sensitive networking market is predicted to grow at a 53.87% CAGR between 2020- 2027.
North America will lead the global time-sensitive networking market.
Growing number of smart connected devices and demand for real-time networking are the key factors driving the time-sensitive networking market growth.
Key contenders profiled in the global time-sensitive networking market include Cisco Systems, Inc. (US),NXP Semiconductor N.V. (Netherlands), Marvell Technology Group Ltd. (US), Microsemi Corporation (US), Intel Corporation (US), National Instruments Corporation (US), Xilinx, Inc. (US), Analog Devices, Inc. (US), Broadcom Limited (Singapore), Belden Inc. (US), Renesas Electronics Corporation (Japan), and TTTech Computertechnik AG (Austria)