Time-sensitive Networking Market at a CAGR of 54.7% from 2021 to 2026

1. MarketsandMarkets Presents Time-sensitive Networking Market at a CAGR of 54.7% from 2021 to 2026 Time-sensitive Networking Market with COVID-19 Impact Analysis by Component (Switches, Hubs, Routers, and Gateways, Connectors, Communication Interfaces, Controllers and Processors, Memory), Applications, and Geography - Global Forecast to 2026 https://www.marketsandmarkets.com/Market-Reports/time-sensitive-networking-market-215000493.html

2. According to a research report "Time-sensitive Networking Market with COVID-19 Impact Analysis by Component (Switches, Hubs, Routers, and Gateways, Connectors, Communication Interfaces, Controllers and Processors, Memory), Applications, and Geography - Global Forecast to 2026", published by MarketsandMarkets™, the Time-Sensitive Networking Market size is projected to reach USD 1,188 million by 2026 from an estimated USD 134 million in 2021, at a CAGR of 54.7% from 2021 to 2026. Growing adoption of industrial automation in manufacturing industries, rising demand for deterministic Ethernet for real-time applications, and challenging multiple controller applications are among the factors driving the growth of the TSN market. Browse 110 market data Tables and 55 Figures spread through 188 Pages and in-depth TOC on "Time-sensitive Networking Market - Global Forecast to 2026"

3. By component, the switches segment held a major share of the TSN market in 2020, and a similar trend is likely to be observed during the forecast period. The increasing adoption of automation in manufacturing industries is expected to create potential growth opportunities for TSN switches. Industry 4.0 and IoT are becoming key technologies for industrial automation motion control systems, which require interconnected devices on a large scale, which is expected to accelerate the demand for TSN switches in the near future. Ask PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=215000493 By application, the industrial automation application is expected to capture the largest share of the TSN market during the forecast period Owing to the large-scale adoption of TSN technology in industrial automation and manufacturing to fulfill the requirement of the Industrial Internet of Things (IIoT). Industrial automation helps industries streamline the production process, increase production capacity, improve flexibility, and ensure cost reduction. Industry 4.0 and IIoT technologies help industries automate and integrate production equipment with other systems and help businesses to boost their productivity and efficiency and improve predictive maintenance, which, in turn, is expected to fuel the need for TSN technology in industrial automation applications to ensure seamless connectivity and achieve wireless, deterministic, and time-sensitive communication.

4. By region, North America is anticipated to hold the largest share of the TSN market throughout the forecast period This dominance is attributed to the rising adoption of industrial automation solutions and robotics technologies. North America comprises major growing economies, such as the US, Canada, and Mexico, which offer significant growth opportunities for the market. Moreover, stringent government regulations with respect to automation of processes to ensure workplace safety. TSN-based Ethernet enables machine-to-machine communication and provides huge volumes of data necessary for predictive analysis. These factors are expected to boost the growth of the TSN market in North America. Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=215000493 Belden Inc. (US), Cisco Systems, Inc. (US), Intel Corporation (US), National Instruments Corporation (US), Marvell Technology Group Ltd. (Bermuda), NXP Semiconductors N.V. (Netherlands), Microchip Technology Incorporated (US), Analog Devices, Inc. (US), Broadcom Inc. (US), and Advanced Micro Devices, Inc. (US), are some of the key players in the TSN market.

5. COVID-19 Impact on the Global TSN Market The outbreak and the spread of COVID-19 have significantly impacted players operating in the TSN value chain. The growing adoption of industrial automation in manufacturing industries is one of the key factors fueling the growth of the TSN market. However, with the complete shutdown of all manufacturing plants, public places, and offices due to lockdowns across the world, the demand for TSN solutions decreased dramatically. Also, demand of these electronics have decreased significantly worldwide owing to lockdowns imposed by different governments to contain the spread of the COVID-19, it has impacted the growth of the TSN market. Moreover, these lockdowns have also impacted the GDP of countries and the per capita income of individuals across the world. The low disposable income has resulted in reduced purchasing power of masses, thereby resulting in a decline in the y-o-y growth for the whole market. However, the latter half of the year is expected to witness normalization in the inventory levels and increased demand for TSN components owing to stabilization in the automotive vertical. The COVID-19 outbreak affected the production of TSN solutions as factories across the world were temporarily shut down to curb the spread of the infection and the demand was also decreased.

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