Time Sensitive Networking Market to Grow at Impressive Rate through 2028
Growing in adoption of
Industrial automation in the industries and increase in need for real- time
networking for various applications is expected to drive the market of the global time sensitive
networking market in the forecast period of 2024-2028.
According to
TechSci Research report, Time Sensitive Networking Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast. 2018–2028, the global time
sensitive networking market is anticipated to register a robust growth during
the forecast period, 2024-2028. Global Time Sensitive Networking Market
is rising owing to growing adoption of industrial automation in most of the
manufacturing and automobile industries. Real time communication with
the help of time sensitive networking has opened the path to integrating with
varied applications in reshaping vehicle communication. Technologically
advanced sensors are increasingly being deployed in autonomous vehicles to
receive real-time feedback on the driving experience and ensure passenger and
vehicle safety. Additionally, the rising need for motion
control systems in industrial automation that requires interconnected devices
will also help create revenue generation opportunities for the time sensitive
networking market. Moreover, the benefits of time sensitive networking
solutions such as, real-time control support and synchronization of high-performance
machines over a Ethernet network, and the rising demand for deterministic
ethernet and the development of different industrial ethernet protocols are fueling
the market expansion.
Furthermore, adopting
the most recent technological developments in industrial setting to enhance
business operations, is the main goal of digital industrial platforms. Any
industrial firm embarking digital transformation must possess knowledge and
proficiency in discipline including communication protocols, advance driver
assistance systems, data processing, and Ethernet,. The demand from industries
for the adoption of advanced Ethernet switches from an end-user better
technology advancement from suppliers, drive market growth, is being met by a
modern, digital-native technical workforce that is more skilled in these fields.
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The time
sensitive networking market is segmented based on component type, application,
and region. By component type, market is bifurcated into switches, hubs,
routers & gateways, controller & processors, isolators &
converters, connectors, communication interface, and others. The application
type segment is further categorized into industrial automation, power &
energy, automotive, transportation, oil & gas, aerospace, and others.
Based on component type, the switches segment holds the largest share
in the market due to the wide usage of ethernet switches in the industrial
applications, factory automation, rail, and intelligent transportation systems
(ITSs), marine, and oil & gas industries. Moreover, the ability to connect
multiple devices and networks to communicate within the local area network
(LAN) are allowing enterprises to adapt the time sensitive networking-based
switches. The advanced switches support time synchronization and path control
reservation which enable deterministic real-time networking over standard
ethernet for a variety of applications. These benefits of the advance ethernet
switches are allowing end-users to rely on leading to growth in the switches segment.
Based on application type, manufacturing holds the largest share in the
time sensitive networking market due to increasing adoption of automation
technology such as, industry 4.0, industrial IoT which are enabling flexible
manufacturing with deterministic networks within their production facilities. The
time sensitive network applications are increasingly being employed as a
machine-to-machine communication mechanism. The benefits of Bandwidth
reservation and Quality of Services (QoS) Mechanisms even in real time and
minus proprietary extensions with connectivity technology interconnection
between standard complaint industrial devices from any user are enabling the
enormous growth in the manufacturing sector.
Key market
players in the time sensitive networking market:
- Cisco Systems Inc.
- N.X.P
Semiconductors N.V.
- Marvell
Technology Group Ltd.
- Microsemi
Corporation
- Intel
Corporation
- Xilinx,
Inc.
- National
Instruments Corporation
- Analog
Devices, Inc
- Belden
Inc.
- Broadcom
Limited
Recent Developments:
On Oct.11.2022: Analog Devices, Inc.
(ADI) had announced the launch of multiprotocol industrial Ethernet switch
platform (ADIN2299) to address the needs of industrial and process automation,
motion control, transportation, and energy automation.
The platform is significantly designed to operate in a star, line, and ring
tropology with an aim to reduce the system integration time while providing
fast time to market.
On May.03.2022: N.X.P Semiconductors
N.V. announced the launch of MX RT 1180 crossover MCU, an integrated Gb time
sensitive networking (TSN) switch that enables multi-protocol industrial IoT
communications supporting both real-time Ethernet and bridging
the gap between existing industrial systems and Industry 4.0 systems.
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“North America holds the
largest market share in Global Time Sensitive Networking Market. The dominance
is attributed to the presence of leading global firms, high discretionary
incomes, growing adoption of robotics technologies in the automobile industry by
the majorly contributing economies like Canada and United States. Moreover, due
to the early embrace of emerging technology in the region, North American
businesses
are
keen to incorporate Industrial IoT technology into their operations. For
Instance, according to the
Association for Advancing Automation, North America records the highest sale of
robotic with
12,305
robots sold in Q2 2022 with 25% more as compared to the same period in 2021.
Such developments and growing adoption of time sensitive networking solutions in
industrial automation are anticipated to fuel market expansion in North
America.” said, Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Global Time Sensitive Networking Market Segmented By Component Type (Switches, Hubs,
Routers & Gateways, Controller & Processors, Isolators &
Converters, Connectors, Communication Interfaces and Others), By Application (Industrial
Automation, Power & Energy, Automotive, Transportation, Oil & Gas,
Aerospace and Others), By Region (Asia-Pacific, Europe, North America, South
America, Middle East & Africa), Competition, Forecast & Opportunities,
2028” has evaluated the future growth potential
of Global 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 time sensitive networking market.
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