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Time-Sensitive Networking (TSN) Market in North America Region is Anticipated to Hold a Major Industry Share by 2024

Author : Ronak Bora | Published Date : 2019-04-12 

The demand for Global Time-Sensitive Networking (TSN) Market is anticipated to be high for the next five years. By considering this demand we provide latest industry report which gives complete industry analysis, market outlook, size, growth and forecast till 2024. This report will assist in analyzing the current and future business trends, sales and revenue forecasts.

North America is anticipated to hold a major share of the time-sensitive networking (TSN) market owing to the increasing adoption of these solutions in the region. The rise in the number of industries in recent years is a major factor driving the industry growth over the forecast timespan. Leading companies participating actively in the technology development are also driving the industry growth in the region. For instance, in November 2017, Industrial Internet Consortium (IIC), OPC foundation and Avnu Alliance announced their collaboration with leaders in the IT-OT industry to show the development in UC standard OPC UA over time-sensitive networking.

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The growth of IEEE standards for deterministic Ethernet, which is used in various applications, such as machine-to-machine communication, aerospace flight control, and autonomous driving, is also a major factor propelling the industry growth. Deterministic communication is a vital part of many industries including manufacturing, transportation, utilities, automotive, and aerospace. This is a key factor anticipated to drive the time-sensitive networking (TSN) market growth in the coming years. Increasing adoption of time-sensitive networks in the automotive industry is also propelling the industry growth.

The time-sensitive networking (TSN) market is segmented into automotive, power & energy, transportation, industrial automation, aerospace, and oil & gas. The demand from industrial automation is expected to grow rapidly in the coming years owing to the increasing adoption of Industrial IoT (IIoT). The technology is used in many industrial automation applications that require real time data transfer, such as motion control in manufacturing.

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TSN satisfies these requirements by providing high bandwidth across the networks to support the sensors and background data required to drive the IIoT applications, which include big data analytics. Considering that, the use of this technology enhances the latency-sensitive applications, making it an apt choice for industrial automation.

The automotive industry also provides viable growth opportunities for the time-sensitive networking (TSN) market. The rising demand for advanced features and sensor networks for driver assistance results in the need for cross-domain communication and increased bandwidth. IEEE standards are leveraged to modernize vehicles with a secure networking technology, which make the automotive sector an opportunity for the TSN market.

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Major players in the time-sensitive networking (TSN) market are NXP Semiconductors N.V., Marvell Technology Group Ltd., Cisco Systems, Inc., B&R Industrial Automation GmbH, Broadcom Limited, Renesas Electronics Corporation, Intel Corporation, Schneider Electric SE, National Instruments Corporation, Bosch Rexroth AG, Hilscher Gesellschaft für Systemautomation mbH, and TTtech Computertechnik AG. Companies are trying to bring forth new technological innovations in the industry, thus propelling the industry growth in the coming years.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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