New York City, NY, 25 September, 2019/ 24 Market Reports:It is estimated for the time-sensitive networking market (TSN) to reach USD 606.2 million by 2024 at a CAGR of 53.5% in the forecast period of 2019 to 2024. Increased adoption of industrial IoT and Industry 4.0, the development of IEEE standards for deterministic Ethernet, and increasing need for real-time networking for various applications are driving the growth of the market.
Component, application, and region are the segmentations of the time-sensitive networking market. The categories for the segmentation based on components include switches; hubs, routers, and gateways; connectors; communication interfaces; power supply devices; and others.
In the coming years, as many market players are expected to provide TSN-enabled switches, the switches market is expected to grow at the highest rate during the forecast period. For instance, Belden is releasing a software update for its modularly managed Hirschmann switch types RSPE35 and RSPE37. This will enable TSN features on these switches. This update is expected to be available by the end of 2017. These developments infer that switches would hold the largest share of the TSN market.
Aerospace, oil & gas, automotive, transportation, industrial automation, power & energy, and others are the categories for the application segment of the time-sensitive networking market. The automotive application category is expected to grow at the highest CAGR during the forecast period.
The increasing interest for TSN in automotive application plays a significant role to solve the requirement of conformance, availability, latency, synchronization, and QoS for vehicle communication. The integration of advanced systems in automobile manufacturing and the growing environment and safety regulations for automobiles are expected to fuel the TSN market.
During the forecast period, it is expected for North America to hold the largest market share for time-sensitive networking market. Through the efficiencies gained through automation manufacturers in the US are leveraging a competitive advantage through the efficiencies.
The growing industrial automation is one of the market drivers for the TSN market. The increased use of TSN in industrial manufacturing and Industry 4.0 applications in the US is one of the reasons for the growth of the market in North America. To develop the TSN testbed activities the collaboration of the companies is taking place.
For instance, in June 2016, the first TSN testbed was organized by IIC (US) at National Instruments Corporation (US) IoT lab. NI collaborated with the Industrial Internet Consortium (IIC) and industry leaders such as Bosch Rexroth AG (Germany), Cisco Systems, Inc. (the US), Intel Corporation (US), KUKA Aktiengesellschaft (Germany), Schneider Electric SE (France), and TTTech Computertechnik AG (Austria) to develop the first TSN testbed. These activities would help provide opportunities for the TSN market in the coming years.
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