Time-Sensitive Networking Market Analysis Report, Growth, Trend, and Forecast, 2017-2024: Global Market Insights, Inc.
Time-Sensitive Networking (TSN) Market size is expected to grow at a high rate over the forecast time span owing to the growing need for real-time networking for several applications such as synchronizing power grids and streaming multimedia. For instance, the technology is used by National Instruments for the management of its power microgrid. Increasing number of devices connected through Industry 4.0 revolution and Industrial Internet of Things (IIOT) is expected to propel the TSN market growth owing to its reliable real-time communication for applications such as motion control. The technology enables assured data transport with low delay variation, latency, & data loss, thus are suitable for time and mission critical traffic. These solutions provide reliability and protection against malicious attacks, bandwidth violation, & system malfunctioning. Owing to these factors, the technology is of importance in the industrial sector for enhanced business operations. 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 TSN market growth in the coming years. Increasing adoption of timesensitive networks in the automotive industry is also propelling the industry growth.
High degree of standardization limits the ability to provide customized solutions, which is a major factor restraining the TSN market growth. Achieving precise timing for the transmission of data frames requires the use of an additional dedicated circuitry, which increases the overall cost. Increase in costs to gain accuracy is expected to restrain the TSN market growth over the forecast timespan. The TSN market is segmented into controller & processors, connectors, power supply devices, communication interfaces, memory, isolators & converters, switches, and hubs, routers & gateways. The demand for switches is projected to grow at the highest rate in the coming years owing to the increasing use of switches to build a more extensive industrial network. Many industry players are planning to provide switching solutions enabled with this technology, propelling the TSN market growth. For instance, Cisco Systems, Inc. unveiled resilient and highly scalable Industrial Ethernet 4000 Series switches, which support the time-sensitive networking technology. 1|Page