The time-sensitive networking (TSN) market size has seen exponential growth in recent years, projected to expand from $0.51 billion in 2023 to $0.65 billion in 2024, representing a CAGR of 26.1%. This growth during the historic period is linked to the surge in data traffic, increasing computational power, the demand for advanced network infrastructure, heightened needs for connectivity and real-time communication in vehicles, and the growing demands of industrial automation. In the coming years, the TSN market size is expected to grow to $1.65 billion by 2028 at a CAGR of 26.3%. The anticipated growth in this forecast period is driven by the increasing demand for Industry 4.0, the rise of the industrial internet of things, the necessity for deterministic communication, and the surging demands within the automotive and aerospace sectors. Key trends expected to shape this market include innovative hardware and software components, advanced switches and controllers, enhanced sensors, novel networking technologies, and significant technological innovations.
Global Time-Sensitive Networking (TSN) Market Key Driver
The growing demand for industrial Internet of Things (IIoT) is expected to propel the growth of the time-sensitive networking (TSN) market. IIoT refers to integrating connected devices, sensors, and machines with industrial systems to facilitate real-time data collection and monitoring across various sectors. This demand arises as industries aim to enhance operational efficiency, reduce downtime through predictive maintenance, improve safety, and gain real-time insights into production processes. TSN is critical in IIoT, ensuring reliable and predictable transmission of time-sensitive data, vital for automation and smart manufacturing. In June 2024, IOT Analytics reported that global mobile operators generated $15 billion from 3.56 billion cellular IoT connections, with 5G expected to drive an 18% CAGR in the global cellular IoT market between 2024 and 2030. Thus, the IIoT's growing demand is fueling the TSN market.
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Global Time-Sensitive Networking (TSN) Market Segments
The time-sensitive networking (TSN) market covered in this report is segmented –
1) By Type: IEEE 802.1 AS, IEEE 8021 Qbv, IEEE 802.1 CB, IEEE 8021 Qbu, IEEE 8021 Qc, Other Types
2) By Component: Controllers And Processors, Power Supply Devices, Connectors, Memory, Switches, Hubs , Routers And Gateways
3) By Application: Industrial Automation, Power And Energy, Automotive And Transportation, Oil And Gas, Aerospace, Other Applications
By Geography:The regions covered in the time-sensitive networking (TSN) market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the time-sensitive networking (TSN) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Time-Sensitive Networking (TSN) Industry Players
Mitsubishi Electric Corporation, Siemens AG , Intel Corporation, Cisco Systems Inc., Broadcom Limited, Nokia Corporation Inc., Texas Instruments Inc., Emerson Electric Co., NXP Semiconductors, Analog Devices Inc., Renesas Electronics Corporation, Microchip Technology Inc., Marvell Technology Group Ltd., Mouser Electronics Inc., Belden Inc., Advantech Co. Ltd., Microsemi Corporation, Spirent Communications PLC, TTTech Computertechnik AG, HMS Networks AB
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Time-Sensitive Networking (TSN) Market Overview
Time-sensitive networking (TSN) is a set of standards developed to enhance ethernet networks, making them capable of handling time-sensitive data with precise timing and low latency. It aims to provide reliable, deterministic performance in network communications, which is crucial for applications that require high levels of synchronization and minimal delay, such as industrial automation, automotive systems, and professional audio/video streaming.
Time-Sensitive Networking (TSN) Global Market Report 2023 provides data on the global time-sensitive networking (tsn) market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The time-sensitive networking (tsn) market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
