The Time-sensitive Networking Market size is projected to reach USD 1,188 million by 2026 from an estimated USD 134 million in 2021, at a CAGR of 54.7% from 2021 to 2026. Growing adoption of industrial automation in manufacturing industries, rising demand for deterministic Ethernet for real-time applications, and challenging multiple controller applications are among the factors driving the growth of the TSN market.
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Switches held a major share of the TSN market, based on
components, in 2020, and a similar trend is likely to be observed during the
forecast period.
The
increasing adoption of automation in manufacturing industries is expected to
create potential growth opportunities for TSN switches. Industry 4.0 and IoT
are becoming key technologies for industrial automation motion control systems,
which require interconnected devices on a large scale, which is expected to
accelerate the demand for TSN switches in the near future.
The industrial automation application is expected to capture the
largest share of the TSN market during the forecast period
Owing
to the large-scale adoption of TSN technology in industrial automation and
manufacturing to fulfill the requirement of the Industrial Internet of Things
(IIoT). Industrial automation helps industries streamline the production
process, increase production capacity, improve flexibility, and ensure cost
reduction. Industry 4.0 and IIoT technologies help industries automate and
integrate production equipment with other systems and help businesses to boost
their productivity and efficiency and improve predictive maintenance, which, in
turn, is expected to fuel the need for TSN technology in industrial automation
applications to ensure seamless connectivity and achieve wireless,
deterministic, and time-sensitive communication.
North America is anticipated to hold the largest share of the TSN market throughout the forecast period.
This dominance is attributed to the rising adoption
of industrial automation solutions and robotics technologies. North America
comprises major growing economies, such as the US, Canada, and Mexico, which
offer significant growth opportunities for the market. Moreover, stringent
government regulations with respect to automation of processes to ensure
workplace safety. TSN-based Ethernet enables machine-to-machine communication
and provides huge volumes of data necessary for predictive analysis. These factors
are expected to boost the growth of the TSN market in North America.
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Key Market Players
Belden Inc. (US), Cisco Systems, Inc. (US), Intel Corporation (US), National Instruments Corporation (US), Marvell Technology Group Ltd. (Bermuda), NXP Semiconductors N.V. (Netherlands), Microchip Technology Incorporated (US), Analog Devices, Inc. (US), Broadcom Inc. (US), and Advanced Micro Devices, Inc. (US), are some of the key players in the TSN market.
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