June 10, 2020
According to the research report titled ‘Time-Sensitive Networking Market Size By Component, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global time-sensitive networking market is estimated to register considerable growth through 2026.
Time-sensitive networking (TSN) is a standard technology defined by IEEE used to enable deterministic messaging capabilities through standard Ethernet.
In industrial sectors ranging from manufacturing, utilities, transportation, and aerospace to automotive, deterministic communication plays a vital role. Enabling mechanism of determinism on standard Ethernet has enhanced connectivity and optimization, thereby reducing expenditure for the industries, which is the key factor propelling the growth of time-sensitive networking market. Although the format of TSN needs to be refined, it is likely to replace the standard Ethernet pertaining to its supremacy in terms of latency.
As per the report, TSN market is classified based on regional hierarchy, application spectrum, and component model.
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In terms of component type, time-sensitive networking market is segmented into service and solution, which are again divided into managed and professional services; and processors & controllers, switches, and other hardware components respectively.
With respect to solution scope, other hardware components segment is estimated to observe a CAGR of over 20% through 2026, owing to surging demand of hardware solutions for network interfaces among the organizations.
Based on the application spectrum, the market is classified into aerospace, industrial automation, automotive & transportation, oil & gas, power & energy, and others. Time-sensitive networking market share from oil & gas segment is likely to record a CAGR of 25% through 2026. This growth is credited to widespread integration of IoT devices and rising inclination towards automation in the overall oil & gas sector.
Speaking of geographical landscape, TSN market is bifurcated into MEA, Latin America, APAC, Europe, and North America. The report cites that Middle East & Africa TSN market is expected to record a CAGR of over 30% through 2026. Technological advancements, refinement of automation systems, and growing capabilities has a positive impact on the industries across MEA region. This factor, in consort with surging adoption of industrial automation will boost the demand for time-sensitive networking solutions in MEA.
The leading organizations in time-sensitive networking market are Belden Inc., Cisco Systems Inc., Analog Devices Inc., Intel Corporation, Infinera Corporation, Microsemi Corporation, and Marvell Technology Group Ltd. among others.