Global Time-Sensitive Networking (TSN) Market Strategies 2024, Forecast To 2033
12 Nov, 2024
The time-sensitive networking (TSN) market has seen rapid expansion in recent years. It is projected to rise from $0.51 billion in 2023 to $0.65 billion in 2024, reflecting a CAGR of 26.1%. The growth is driven by increasing data traffic, advancements in computational power, rising demand for advanced network infrastructure, a growing need for real-time communication and advanced connectivity in vehicles, and the demands of industrial automation. The time-sensitive networking (TSN) market is forecasted to experience rapid growth, reaching $1.65 billion by 2028 with a CAGR of 26.3%. The growth is driven by the rising demand for Industry 4.0, the industrial internet of things (IIoT), the need for deterministic communication, and surging demand in automotive and aerospace sectors. Key trends include the development of innovative hardware and software components, advanced switches, sensors, and networking technologies, alongside continued technological innovations.
Major Driver In The Time-Sensitive Networking (TSN) Market
The increasing demand for industrial Internet of Things (IIoT) is expected to propel the growth of the time-sensitive networking (TSN) market. IIoT refers to the integration of connected devices, sensors, and machines with industrial systems for real-time data collection and monitoring. This demand is driven by industries seeking to enhance operational efficiency, reduce downtime through predictive maintenance, improve safety, and gain real-time insights into production processes. TSN is crucial for IIoT as it ensures the reliable and predictable transmission of time-sensitive data, which is essential for automation and smart manufacturing. In June 2024, IOT Analytics reported that global mobile operators generated $15 billion from 3.56 billion cellular IoT connections, with 5G expected to drive an 18% CAGR in the global cellular IoT market between 2024 and 2030. As IIoT continues to grow, the TSN market will see increased demand.
Request A Free Sample Of The Time-Sensitive Networking (TSN) Market ReportTime-Sensitive Networking (TSN) Market Competitive Landscape
Mitsubishi Electric Corporation, Siemens AG , Intel Corporation, Cisco Systems Inc., Broadcom Limited, Nokia Corporation Inc., Texas Instruments Inc., Emerson Electric Co., NXP Semiconductors, Analog Devices Inc., Renesas Electronics Corporation, Microchip Technology Inc., Marvell Technology Group Ltd., Mouser Electronics Inc., Belden Inc., Advantech Co. Ltd., Microsemi Corporation, Spirent Communications PLC, TTTech Computertechnik AG, HMS Networks AB
Key Time-Sensitive Networking (TSN) Market Trend
Companies in the time-sensitive networking (TSN) market are focused on creating innovative products, such as advanced switching solutions, to meet the demand for real-time communication in industrial settings. These network switches manage time-sensitive data streams across Ethernet networks, ensuring deterministic and real-time communication. In January 2022, Microchip Technology Incorporated, a U.S.-based semiconductor company, launched the LAN9668 TSN ethernet switches, which enable a single network architecture for industrial automation, offering lower latency and improved clock accuracy for enhanced industrial operations.
Purchase The Global Time-Sensitive Networking (TSN) Market Report Directly And Get A Swift DeliveryGlobal Time-Sensitive Networking (TSN) Market Segmentation
The time-sensitive networking (TSN) market covered in this report is segmented –
1) By Type: IEEE 802.1 AS, IEEE 8021 Qbv, IEEE 802.1 CB, IEEE 8021 Qbu, IEEE 8021 Qc, Other Types
2) By Component: Controllers And Processors, Power Supply Devices, Connectors, Memory, Switches, Hubs , Routers And Gateways
3) By Application: Industrial Automation, Power And Energy, Automotive And Transportation, Oil And Gas, Aerospace, Other Applications
By Geography:The regions covered in the time-sensitive networking (TSN) market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the time-sensitive networking (TSN) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Time-Sensitive Networking (TSN) Global Market Report 2024 furnishes information about the global time-sensitive networking (TSN) market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.