PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1295436
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1295436
The global time-sensitive networking market 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. The demand for automation in industrial applications is rising, and time-sensitive networking (TSN) is becoming increasingly crucial to meet the growing requirements of the industry. Automation has also become a key enabler for industries seeking to increase productivity, efficiency, and safety. Companies in the industrial automation sector are increasingly adopting TSN technology to improve communication and coordination between machines and systems. These trends have resulted in an increasing demand for time-sensitive networking solutions, leading to the growth of the time-sensitive networking market.
"Switches segment is expected to grow at the highest CAGR during the forecast period."
The switches segment is growing at the highest CAGR in the time-sensitive networking market due increasing demand for industrial automation. TSN technology is particularly relevant in the field of industrial automation, where it enables real-time communication and synchronization between various devices and systems. As industries adopt more automation solutions to improve efficiency and productivity, the demand for TSN-enabled switches increases. The segment's growth is driven by cost effectiveness. TSN switches have become more affordable over time, making them accessible to a wider range of industries and applications.
"Power and Energy segment is projected to dominate the time-sensitive networking market."
Power and Energy segment are having the largest market share in the time-sensitive networking market due to the growing adoption of the industrial internet of things. The power and energy industries are increasingly embracing the Industrial Internet of Things (IIoT) to enhance automation, optimize resource utilization, and improve overall system efficiency. TSN provides a reliable and standardized communication framework for interconnected IIoT devices, facilitating the seamless integration of sensors, actuators, and other intelligent devices within the power and energy infrastructure. This enables efficient data collection, analysis, and control, improving operational performance. These factors are fueling the demand of time-sensitive networking components in power and energy sector.
"China to grow at the highest CAGR for Asia Pacific time-sensitive networking market"
China is experiencing the highest growth rate in the time-sensitive networking market due to several factors. China is a major player in global manufacturing, with a significant portion of its economy, approximately 40%, dependent on the industrial sector. The country has a robust base of sectors, including semiconductor, automotive, and consumer electronics, which widely adopt TSN. With China being the world's largest manufacturer, there is a constant push towards rapid technological advancements and increased research activities in these industries.
In-depth interviews have been conducted with chief executive officers (CEOs), Directors, and other executives from various key organizations operating in the time-sensitive networking marketplace.
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); are some of the key players in the time-sensitive networking market.
The study includes an in-depth competitive analysis of these key players in the time-sensitive networking market, with their company profiles, recent developments, and key market strategies.
Research Coverage
This research report categorizes the time-sensitive networking market by type (IEEE 802.1 AS, IEEE 802.1 Qbv, IEEE 802.1 CB, IEEE 802.1 Qbu, IEEE 802.1 Qcc, and Others), by component (Switches, Hubs Routers and Gateways, Controllers and Processors, Isolators and Converters), by end user (Power and Energy, Automotive, Transportation, Oil & Gas, Telecom and Data Center, Pharmaceutical, Aerospace and Others), and by region (North America, Europe, Asia Pacific, and RoW). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the time-sensitive networking market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the time-sensitive networking market. Competitive analysis of upcoming startups in the time-sensitive networking market ecosystem is covered in this report.
Reasons to buy this report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall time-sensitive networking market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
(Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments)**