Time Sensitive Networking Market Eyeing Admirable Growth due to Preference over Traditional Networking Systems
Research Reports
Sep 16, 2023
Time sensitive networking Market:
The global time sensitive networking market will touch USD 1513.2 million at a 36.66% CAGR by 2030, as per the recent Market Research Future report.
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Key Players:
Eminent industry players profiled in the global time sensitive networking market report include,
- Cisco Systems, Inc.
- NXP Semiconductor N.V.
- Marvell Technology Group Ltd.
- Microsemi Corporation
- Intel Corporation
- National Instruments Corporation
- Xilinx, Inc.
- Analog Devices, Inc.
- Broadcom Limited
- Belden Inc.
- Renesas Electronics Corporation
- TTTech Computertechnik AG
Drivers:
Increasing Adoption in Automotive Sector to Boost Market Growth
A wired connection utilized in/between systems in a vehicle is Ethernet for automotive applications, sometimes referred to as Automotive Ethernet. TSN Ethernet has a number of advantages, including a decrease in cost, complexity, & weight due to the requirement for less cabling in automobiles. It may also lessen the amount of networks, which vary by domain, in an automobile. The rise in demand for autonomous cars with little human involvement is another factor contributing to the expansion. Applications like ADAS that require real-time, safety-critical performance should use TSN-enabled Ethernet.
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Opportunities:
Preference over Traditional Networking Systems to offer Robust Opportunities
Due to advantages like increased productivity, real-time data for advanced analytics actionable insights, business operation efficiency, and real-time communication services over Ethernet, time sensitive networking is gaining traction much more quickly than traditional networking systems, which has led to impressive growth in the global time sensitive networking market.
Restraints and Challenges:
Network Security Issues to act as Market Restraint
Network security issues and complexity in deployment with the existing technologies may act as market restraints over the forecast period.
Market Segmentation:
The global time sensitive networking market is bifurcated based on application, component, and product type.
By product type, 802.1AS will lead the market over the forecast period.
By component, switches will domineer the market over the forecast period.
By application, industrial automation will spearhead the market over the forecast period.
COVID-19 Analysis
Stakeholders throughout the TSN value chain have been significantly impacted by the outbreak and spread of COVID-19. The growing use of industrial automation within manufacturing industries is one of the main drivers boosting the market for time-sensitive networking. The complete shutdown of all factories, public spaces, and offices worldwide as a result of lockdowns significantly reduced the need for TSN solutions. Additionally, the demand for these devices has drastically decreased as a result of the worldwide lockdowns imposed by different countries to curb the spread of the COVID-19, which is restricting the expansion of the market for time-sensitive networking.
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Regional Analysis:
North America to Head Time Sensitive Networking Market
With strong growth and a good CAGR, the North American area dominates this industry. It is a key market for the quickly growing need for automation controllers which can manage many workloads at once, including video feeds and traffic control, due to recent expansion in the region. As a result, it is now feasible to combine deep learning capabilities in a single device that can interact in real time with other controllers linked to the factory’s network. The growth of the industrial automation & robotics is a factor in its expansion. Additionally, this area is home to large developing nations like the United States, Canada, and Mexico that provide the business tremendous space for growth.
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