Time-Sensitive Networking Market worth over $1bn by 2026

Time-Sensitive Networking (TSN) Market size is set to exceed USD 1 billion by 2026, according to a new research report by Global Market Insights, Inc.
 

The time-sensitive networking market growth is attributed to increasing demand for real-time networking in various applications such as industrial automation, autonomous driving, and audio/video streaming. The growing adoption of smart factory solutions is also supporting the market demand. Furthermore, the market growth can be credited to growing adoption of IIoT to enhance the productivity of various industrial sectors such as automotive & transport, electrical & electronics, oil & gas, energy & power, and aerospace & defense.

 

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With growing awareness toward better integrating factory-installations and IT systems, the demand for advanced TSN components is growing across these industries. The development of IEEE standards on Ethernet for various applications, such as aerospace flight control and machine-to-machine communication, is also contributing significantly to the market revenue.
 

Singapore TSN Market By Solution

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Managed services segment is expected to grow rapidly in the time-sensitive networking market

The managed service segment of the market is expected to grow at a rate of over 40% during the forecast period due to increasing enterprises’ focus on outsourcing complete network management to third-party service providers. The primary growth driver is the rapidly changing technological landscape, which can be a challenge for organizations to keep up with. Business challenges such as enhancing hardware platforms, upgrading software licenses, and ensuring that the staff is trained on the relevant software are contributing toward the need for managed services.
 

To lower costs and increase operational efficiency, large enterprises and smaller organizations have been outsourcing their network management functions. The companies operating in different industries are outsourcing their entire management of network to increase their core competencies. Managed services also help these companies to improve their response time and reduce their delivery time. The increasing demand to reduce complexities associated with the deployment and maintenance of TSN technology will support the market size.
 

Browse key industry insights spread across 210  pages with 280  market data tables and 23 figures & charts from the report, “Time-Sensitive Networking (TSN) Market Size By Component (Solution [Switches, Controllers & Processors, Other Hardware Components], Service [Professional Services, Managed Services]), By Application (Industrial Automation, Power & Energy, Automotive & Transportation, Oil & Gas, Aerospace), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/time-sensitive-networking-tsn-market
 

Development of smart factories to support the time-sensitive networking market growth

Industrial automation application segment held a market share of over 30% led by increasing adoption of wireless sensors in manufacturing facilities. Government initiatives to modernize & extend power generation and distribution infrastructure and the adoption of IIoT for industrial Ethernet applications to facilitate industrial automation in sectors, such as automotive and electronics, are expected to accelerate the market growth.
 

Industrial control applications need consistent and deterministic delivery of data between different components such as sensors, controllers, & actuators. The data exchange between these components is critical for controlling different operations in manufacturing facilities. TSN technology helps these manufacturing companies to provide real-time networking to gain more control over their manufacturing operations.
 

Asia Pacific is expected to grow rapidly during the forecast timeline

Asia Pacific time-sensitive networking (TSN) market will observe a CAGR of over 40% through 2026 due to rapid industrialization in countries including India, China, and Japan owing to increasing demand for industrial automation solutions in the region. The supportive government initiatives & policies to drive the adoption of industrial automation solution in the region are also estimated to have a significant impact on the market value.
 

Furthermore, the increasing adoption of Industrial Internet of Things (IIoT) solutions and industrial Ethernet solutions among different industry sectors for flexibility, scalability, and reduction in the cost of operation, will fuel the market demand.
 

The government investments & policies to promote the adoption of industrial automation are fueling the market growth. For instance, in 2017, The Ministry of Economy, Trade and Industry (METI) of Japan invested USD 270 billion during its five-year plan for industrial automation. This investment helped in accelerating the adoption of industrial automation across the country.
 

Major market players are focusing on new product development to gain a competitive advantage in the rapidly evolving market

The companies operating in the market are focusing on the development of different TSN solutions for smart manufacturing applications. For instance, in February 2020, Socionext launched TSN IP for FPGA and ASIC implementation. This new solution helped the company to deliver enhanced performance for TSN applications. This product introduction also helped the company to make a significant contribution to the rapidly growing industry.
 

Major companies operating in the time-sensitive networking market are Analog Devices, Inc., Belden, Inc., Broadcom Limited, Cisco Systems, Inc., Infinera Corporation, Intel Corporation, Marvell Technology Group Ltd., Microsemi Corporation, National Instruments Corporation, Nokia Corporation, NXP Semiconductors, Inc., Renesas Electronics Corporation, Siemens AG, TTTech Computertechnik AG, and Xilinx, Inc.
 

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