Owing to benefits such boost in productivity, real-time information for advanced analytics, actionable insights, business operation efficiency, real time communication services over Ethernet, the time sensitive networking is experiencing rapid adoption as opposed to traditional networking systems thus fostering remarkable progress in global time sensitive networking market.
Covid-19 impact and market status
The covid-19 pandemic disrupted all the markets across the world including global network transformation market. With the onset of the pandemic there was a complete shutdown of all public places, manufacturing plants, and offices due to lockdowns imposed across the world. The covid-19 pandemic has positively as well as negatively impacted the global time sensitive networking market. Some industries have faced downfall, and some industries have experienced positive effects due to this pandemic. At the same time, the pandemic led to shift business operations and IT operations to remote working model. This led businesses to adopt advanced network transformation system to continue remote business operations, maintain productivity, and conduct operations without the network security breaches. This resulted in high demand of network transformation systems to cope consumer demands during the pandemic.
This report offers a detailed overview of the pandemic with focus on key aspects such as global and domestic competitive environment, risks and challenges, new business models, market segment leading the global network transformation market, and other topics crucial for market players, business leaders, strategists, and policy makers to understand to realize full potential of the global network transformation market.
Switches is estimated to hold a large share of the Time-Sensitive Networking market during the forecast period.
There is an increasing adoption of automation in manufacturing industries and this is estimated to create many potential growth opportunities for TSN switches market. IoT and Industry 4.0 are becoming ideal technologies for industrial automation motion control systems. These require interconnected devices on a large scale, which is expected to propel the demand for TSN switches in the coming future.
The industrial automation application is expected to hold the largest share of the Time-Sensitive Networking market during the forecast period.
This segment is expected to grow because of the large-scale adoption of Time-Sensitive Networking technology in industrial automation and manufacturing in order to fulfill all the needs and requirements of the Industrial Internet of Things (IIoT). Additionally, industrial automation can help industries to improve flexibility, streamline their production process, increase production capacity, and ensure cost reduction. IIoT and Industry 4.0 technologies will help industries integrate and automate production equipment with other systems. It will also help businesses to boost their productivity and efficiency and improve predictive maintenance, which, in turn, is expected to propel the need for TSN technology in industrial automation applications to ensure seamless connectivity and achieve wireless, deterministic, and time-sensitive communication.
North America is Poised For Highest CAGR Through the Forecast Span
Among all the major regions in the global time sensitive networking market, the North America held the largest market share of global time sensitive networking market and specifically due to the countries like United States and Canada. North America is the most dominant region in the global time sensitive networking market due to key factors such as increasing adoption of robotic technologies in automotive industry and other industry verticals, rapid growth of automotive industry, presence of leading global firms, majorly contributing economies like United States and Canada, high disposable incomes, and technology advancements.
The need to develop advanced networking systems and services is boosting the global time sensitive networking market.
The factors such as advancements in standards, deployment of time sensitive networking systems resulting into low packet loss, OPC UA (unified architecture) is expanding the usage of Ethernet TSN and time sensitive networking enabling firm restricted latency fluctuations is boosting the global time sensitive networking market.
Advantages such as support to multiple controllers communication, flexibility, support to controller-to-controller communications, industrial interoperability, and connectivity, are encouraging further adoption of time sensitive networking. These factors collectively influence thumping growth of time sensitive networking market which is estimated to reach close to USD 1,188 million until 2028 with an annualized growth rate of 54.7% through the forecast period.
TSN is a given set of IEEE standards which are being developed by the Time Sensitive Task Force workers of the IEEE 802.1. TSN is increasingly used in autonomous vehicles for improving driving experience, providing advanced safety features, etc. TSN efficiently makes use of global positioning systems (GPS), advanced driver-assistance systems (ADAS), network (CAN) and local interconnect network (LIN) industrial bus systems. TSN is used to improve data transmission bandwidth, enhance real-time communication in autonomous vehicles.
However, the global time sensitive networking market is lagged due to several challenges such as lack of understanding of data, security breaches, lack of advancement in application related functions like motion control, lack of higher level of protocols failing to meet new demands and requirements. Nevertheless, the Time sensitive networking enables high-speed transmission of data is scaled up with Ethernet network. It helps scale up and provide reliable and bounded latency which is needed for autonomous vehicles. Time-sensitive Networking IEEE is equipped with reliable and high-bandwidth communication network features. This is enabling increased adoption of Ethernet TSN in autonomous vehicles boosting the global time sensitive networking market. TSN offers better transmission of data, strong network connectivity, improved user experience thereby being the major factor boosting the global time sensitive networking market.
The major players in the global time sensitive networking market are Advanced Micro Devices, Broadcom, Analog Devices, Microchip Technology Incorporated, NXP Semiconductors N.V., Marvell Technology Group, National Instruments Corporation, Intel Corporation, Cisco Systems, and Belden.
Recent innovations in the Global Time-sensitive Networking Market: A Snapshot
- In February 2021, Microchip Technology launched the SparX-5i family of Ethernet switches—single-chip which are IEEE standards-based solutions. SparX-5i family supports the major TSN IEEE standards. These standards are required for a complete real-time communication solution. It offers a complete TSN features.
Time-sensitive Networking Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 1,188 million|
|Growth Rate||CAGR of 54.7% during 2021-2028|
|Segment Covered||Component Type, Application Type, Industry, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Advanced Micro Devices, Broadcom, Analog Devices, Microchip Technology Incorporated, NXP Semiconductors N.V., Marvell Technology Group, National Instruments Corporation, Intel Corporation, Cisco Systems, and Belden.|
Key Segments of the Time-sensitive Networking Market
Component Type Overview, 2018-2028 (USD Million)
Application Type Overview, 2018-2028 (USD Million)
- Industrial Automation
Industry Overview, 2021-2028 (USD Million)
- Oil & Gas
Regional Overview, 2021-2028 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa