New York, United States , June 20, 2023 (GLOBE NEWSWIRE) -- The Global Time-Sensitive Networking Market Size is to grow from USD 367.82 Million in 2022 to USD 17928.98 Million by 2032, at a Compound Annual Growth Rate (CAGR) of 47.5% during the forecast period.
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Time-Sensitive Networking (TSN) is a collection of Ethernet-based standards that enable deterministic and time-critical communication in various applications. TSN ensures reliable and predictable data transmission by introducing synchronization and scheduling mechanisms into standard Ethernet networks. It supports precise time synchronization, traffic shaping, redundancy, and multiple traffic classes, allowing for the coexistence of critical control data and best-effort traffic. TSN is particularly valuable in industrial automation and other sectors that require high-performance, low-latency, and deterministic communication for achieving efficient and safe operations.
Report Coverage
This research report categorizes the market for time-sensitive networking market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the time-sensitive networking market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the time-sensitive networking market.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on, "Global Time-Sensitive Networking Market Size, Share, and COVID-19 Impact Analysis, By Component (Solution and Services), By Application (Industrial Automation, Power & Energy, Automotive & Transportation, Oil & Gas, Aerospace, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032." Get Detailed Report Description Here:
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Controllers & processors segment is expected to grow at a higher CAGR during the forecast period.
Based on the type of component, the global time-sensitive networking market is segmented into solution and services. In the forecast period, the controllers and processors segment are anticipated to witness significant growth. This can be attributed to the increasing demand for advanced processing capabilities and enhanced control systems in various industries. As technological advancements continue to drive automation and connectivity, the need for powerful controllers and processors becomes crucial for managing complex tasks and optimizing operations. Industries such as manufacturing, automotive, aerospace, and industrial automation are expected to drive the growth of this segment. Additionally, the rise of Internet of Things (IoT) applications and edge computing further emphasizes the importance of robust controllers and processors, fueling the growth prospects of this market segment.
The aerospace segment is expected to grow at a CAGR of around 48.5% during the forecast period.
Based on the type of application, the global time-sensitive networking market is segmented into industrial automation, power & energy, automotive & transportation, oil & gas, aerospace, and others. The aerospace industry is anticipated to experience significant growth in the forecast period, driving the demand for Time-Sensitive Networking (TSN) solutions. The aerospace sector relies heavily on advanced communication and networking technologies to ensure safe and efficient operations. TSN enables precise and real-time communication, which is critical for aviation applications such as air traffic control, flight data transmission, and remote monitoring. Moreover, the growing demand for unmanned aerial vehicles (UAVs) and satellite-based communication systems further accelerates the adoption of TSN in the aerospace industry. With increasing investments in research and development, the aerospace sector is expected to continue driving the growth of the TSN market in the forecast period.
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Europe is predicted to grow at a significant CAGR of around 53.4% over the projected period.
Based on region, Europe is expected to experience significant growth in the time-sensitive networking (TSN) market during the forecast period. The region has a robust manufacturing sector, particularly in industries like automotive, aerospace, and industrial automation, which are prime candidates for TSN adoption. Furthermore, European countries have been actively promoting initiatives such as Industry 4.0 and Smart Manufacturing, which emphasize the integration of advanced technologies like TSN. The presence of key market players and research institutes focusing on TSN development in Europe further accelerates market growth. Additionally, stringent regulations related to safety and reliability in industrial applications drive the demand for TSN solutions. With these factors combined, Europe is poised to witness significant growth in TSN adoption and implementation.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global time-sensitive networking market include Analog Devices, Inc., Broadcom Limited, Belden, Inc., Cisco Systems, Inc., Microsemi Corporation, Marvell Technology Group Ltd., Nokia Corporation, Inc., Renesas Electronics Corporation, TTTech Computertechnik AG., NXP Semiconductors, Intel Corporation, Xilinx, National Instruments, Bosch Rexroth, Rockwell Automation, Inc., Schneider Electric, and Harman International and among others.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global time-sensitive networking market based on the below-mentioned segments:
Time-Sensitive Networking Market, By Component
- Solution
- Services
Time-Sensitive Networking Market, By Application
- Industrial Automation
- Power & Energy
- Automotive & Transportation
- Oil & Gas
- Aerospace
- Others
Time-Sensitive Networking Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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