Global Time Sensitive Networking Market was valued at USD219.90 million in 2020 and is projected to grow around USD1014.44 million by 2026. Rising demand for industrial internet of things, high data transmission rates, growing demand for vehicle safety communication measures, increased industrial automation and robotics is expected to positively influence the Global Time Sensitive Networking Market in the coming years.
Global Time Sensitive Networking Market is segmented into component, application, and region. Based on component, the market is segmented into switches, hubs, routers & gateways, controller & processors, isolators & convertors, connectors, communication interfaces and others. Switches segment held the market share of 51.94% in the year 2020 and is expected to dominate the market in the forecast period. Time sensitive network switches are being widely adopted in industrial applications due to their benefits over traditional ethernet switches. These advanced switches support time synchronization and path control reservation to enable deterministic real-time networking over standard ethernet for a variety of applications such as those inside automobiles and production lines.
Based on application the market is sub-segmented into automotive, power and energy, industrial automation, transportation, oil and gas, aerospace and others including performance audio, traffic management, etc. The automotive segment accounted for share of over 30% in 2020 and is expected to dominate the market during the forecast period primarily due to increased widespread adoption of automation across the automotive industry. Also, time sensitive networking uses deterministic ethernet which in turn helps to make wiring harnesses cost-effective and light in weight. Any infrequent delays are unacceptable in control systems such as those inside automobiles and production lines which makes time sensitive networking more essential in the automotive industry.
Regionally, the Time Sensitive Networking Market is segmented into various regions including North America, Asia-Pacific, Europe, South America, and Middle East & Africa. Among these regions, North America is expected to dominate the market in the forecast period on account of the widespread adoption of time sensitive networks in traditional manufacturing and industrial practices. However, Asia-Pacific region is expected to grow at a higher pace due to huge technological investments and adoption of automation and robotics across the countries.
The major players operating in the Global Time Sensitive Networking Market are Cisco Systems Inc., N.X.P Semiconductors N.V, Marvell Technology Group Ltd., Microsemi Corporation, Intel Corporation, Xilinx Inc., National Instruments Corporation, Analog Devices Inc., Belden Inc., Broadcom Limited. These companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers and acquisitions and new service developments.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
- To analyze the historical growth in the market size of the Global Time Sensitive Networking Market from 2016 to 2020.
- To estimate and forecast the market size of Global Time Sensitive Networking Market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast the Global Time Sensitive Networking Market based on component, application, company, and regional distribution.
- To identify the dominant region or segment in the Global Time Sensitive Networking Market.
- To identify drivers and challenges for the Global Time Sensitive Networking Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Time Sensitive Networking Market.
- To identify and analyze the profiles of leading players operating in the Global Time Sensitive Networking Market.
- To identify key sustainable strategies adopted by market players in the Global Time Sensitive Networking Market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of the Time Sensitive Networking Market using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Time sensitive networking developers/ suppliers/ distributors
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances related to time sensitive networks.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, the Global Time Sensitive Networking Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Global Time Sensitive Networking Market, By Component:
o Controller and Processors
o Isolators and Convertors
o Communication Interfaces
- Global Time Sensitive Networking Market, By Application:
o Power and Energy
o Industrial Automation
o Oil and Gas
- Global Time Sensitive Networking Market, By Region:
o North America
? United States
? United Kingdom
? South Korea
o Middle East & Africa
? Saudi Arabia
? South Africa
o South America
Company Profiles: Detailed analysis of the major companies present in the Global Time Sensitive Networking Market.
With the given Market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).