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Sep 22, 2020 (Market Insight Reports) —
Selbyville, Delaware According to the research report titled ‘Time-Sensitive Networking Market Size By Component, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global time-sensitive networking market is anticipated to amass substantial growth during 2020-2026.
Growing demand from large number of high-revenue industries is likely to drive the growth of global time-sensitive networking (TSN) market over the forecast period. Widespread integration of industrial automation, need for reliable ethernet and development of different protocols, as well as emergence of IIoT and Industry 4.0 will propel the market growth.
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For the record, deterministic communication plays a major part in many industrial sectors, ranging from aerospace, automotive, and transportation to manufacturing and utilities. Further, ethernet determinism enables improved optimization and connectivity, which causes significant cost savings for these industries.
With respect to the component type, the market is segmented into solution and service. The solution segment is further divided into controllers & processors, switch, and other hardware component, while the service segment is classified into subsegments like professional services and managed services.
As per the report, other hardware component segment is likely to witness a growth rate of 20% through 2026 owing to escalated demand for network interfaces.
With regards to the application spectrum, the industry is bifurcated into oil & gas, power & energy, industrial automation, automotive & transportation, aerospace, and others. Among these, oil & gas segment is estimated to witness 25% CAGR over the coming years, owing to rapid integration of industrial automation along with increasing adoption of IoT devices in oil & gas sector.
Based on regional overview, Middle East & Africa time-sensitive networking market is anticipated to witness 30% growth rate during 2020-2026 owing to technological developments and growing capabilities of industrial automation systems in the region.
Key players operating in global time-sensitive networking market are Xilinx Inc., TTTech Computertechnik AG, Siemens AG, Renesas Electronics Corporation, Infinera Corporation, Nokia Corporation, Analog Devices Inc., Microsemi Corporation, Belden Inc., Broadcom Limited, Intel Corporation, Cisco Systems Inc., National Instruments Corporation, and Marvell Technology Group Ltd.
Question & Answer: Global time-sensitive networking market
Question 1: What are the key factors driving the growth of global time-sensitive networking market?
Answer: Widespread integration of industrial automation, need for reliable ethernet and development of different protocols, as well as emergence of IIoT and Industry 4.0 will propel the growth of global time-sensitive networking market.
Question 2: Why is Middle East & Africa time-sensitive networking market witnessing constant expansion?
Answer: Technological developments and growing capabilities of industrial automation system are fueling the expansion of Middle East & Africa time-sensitive networking market.
Question 3: Which companies formulate the competitive spectrum of global time-sensitive networking market?
Answer: Xilinx Inc., TTTech Computertechnik AG, Siemens AG, Renesas Electronics Corporation, Infinera Corporation, Nokia Corporation, Analog Devices Inc., Microsemi Corporation, Belden Inc., Broadcom Limited, Intel Corporation, Cisco Systems Inc., National Instruments Corporation, and Marvell Technology Group Ltd. are the major companies in global time-sensitive networking market.
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The MarketWatch News Department was not involved in the creation of this content.