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Time-sensitive networking (TSN) is a rapidly evolving technology that has several key applications in different industries, such as communication, automotive, manufacturing, and healthcare. TSN is a fixed standard network industrialized to allow real-time communication over Ethernet networks, making it suitable for complicated applications where low latency and accurate timing are vital. The growing use of industrial automation in sectors, such as manufacturing, oil & gas, and broadcasting is expected to bolster the demand for time-sensitive networks.
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Segmentation:
Solutions & Services Segment to Dominate by Reducing Organizations’ Efforts for Management of TSN Platforms
Based on components, the market is classified into hardware and solution & services. The solutions & services segment is predicted to hold a prominent position in the market as solutions & services providers offer multiple services to reduce the efforts of stakeholders for managing and training several TSN protocol platforms.
Manufacturing to Emerge as Major End-Use Industry Due to Increasing Use of Automation
Based onthe end-user industry, the market is segmented into healthcare, manufacturing, agriculture, government/defense, transportation, IT & telecom, and others. The manufacturing segment is anticipated to dominate the time-sensitive networking market share during the forecast period. The embedded systems utilized in manufacturing sectors play a pivotal role in industrial automation and IoT applications by allowing real-time control and monitoring.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report has conducted a detailed study of the market and highlighted several critical areas, such as leading components, end-use industries, and top market players. It has also focused on the latest market trends and the key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.
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Drivers and Restraints:
Growing Integration with 5G Network to Increase Demand for TSN Equipment
Time-sensitive networking devices are being integrated with 5G networks to help users gain access to low-latency and ultra-reliable communication features. This will create new opportunities for real-time applications, such as remote healthcare, self-driving cars, smart grids, and Industrial IoT (IIoT). Moreover, there is a robust demand for low-latency and consistent communication networks due to the increasing use of sensors, actuators, and other connected devices in industrial automation. This factor will also boost the demand for TSN solutions, thereby accelerating the time-sensitive networking market growth.
List of Top Global Time-Sensitive Networking Companies:
• PROFIBUS Nutzerorganisation e.V. (Germany)
• Cisco Systems Inc. (U.S.)
• Texas Instruments Incorporated (U.S.)
• NATIONAL INSTRUMENTS CORP. (U.S.)
• Advantech Co., Ltd. (Taiwan)
• HMS Networks (Sweden)
• Belden Inc. (U.S)
• TTTech Group (Austria)
• Mitsubishi Electric (Japan)
• Spirent Communications. (U.K.)
• Mouser Electronics (U.S.)
• Microchip Technology (U.S.)
Regional Insights:
Asia Pacific to Dominate Market Due to Government-backed Initiatives Promoting Use of Advanced Technologies
Asia Pacific is predicted to dominate the global time-sensitive networking market share as governments across the region are launching various initiatives to promote the use of innovative technologies. Other factors, such as large-scale industrialization and urbanization are also helping the regional market grow.
North America is also anticipated to record tremendous growth due to the increasing presence of reputed market players and rising investments in Industry 4.0 technologies.
Competitive Landscape:
Key Market Players to Focus On Making Customized Solutions to Cater to Unique Demands
The prominent companies operating in this market are focusing on designing solutions that are customized for certain unique time-sensitive networking applications and industry-specific requirements, such as ruggedized switches for harsh industrial environments. This move will help the market players maintain their strong competitive edge.
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Notable Industry Development:
March 2024: TTTech Group, a leading provider of TSN solutions, announced that it had collaborated with Réaltra Space Systems Engineering, an Irish space enterprise. Through this collaboration, both companies aim to jointly create the TTethernet switch for the space transportation and Low-Earth Orbital (LEO) infrastructure.
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