According to a recent study from market research firm Global Market Insights, the time-sensitive networking market is set to grow from its current market value of more than $200 million to over $1 billion by 2026, gaining remarkable traction over the 2020 to 2026 period.
The growing need for real-time network solutions across various crucial sectors like automobile, transportation, manufacturing, aerospace, oil and gas and energy and utility is positively influencing global time-sensitive networking market share. A rising need for communication channels and the need for industrial automation are important factor propelling the use of advanced TSN mechanisms.
These interconnected devices send data through multi-access edge computing and radio access networks to remote monitoring systems. TSN technology facilitates routing of massive traffic, which is triggered by data transmission through a converged network. Additionally, it offers relatively higher protocol layers and bandwidths than conventional ethernet switches present in a network infrastructure.
Communication technology solution providers are constantly focusing on innovating new controllers and processors, which may help scale TSN technology across various applications. Taking January 2020 for instance, CAST, Inc. introduced a switched TSN Endpoint Controller that fulfilled every TSN standard. This product would allow the company to offer a controller IP core that combines with hardware stacks and delivers enhanced traffic management, time synchronization ability and low latency Ethernet MAC.
In terms of services, the time-sensitive networking market is bifurcated into professional services and managed services. Out of these, professional services segment is projected to generate more than USD 200 million by 2026. Businesses with specialized TSN technology expertise are offering dedicated services to consumers to simplify their networking issues associated with maintenance and deployment.
Smart manufacturing centers connect various components like controllers and sensors over a connected network. These converged components send the required data to the remote monitoring system through multiple access edge computing and radio access networks.
Europe is anticipated to emerge as one of the more profitable revenue terrains for time-sensitive networking market in the next few years. Increasing use of managed services and controllers and processes across firms in the regional automotive vertical is intensifying growth.
Siemens, NXP Semiconductors, Analog Devices, Inc., and Broadcom Limited are some other firms working on unveiling solutions to offer robust communication channels to clients and expand their product lineup. In 2018, Analog Devices, Inc. released industrial automation software for factory infrastructure. Evidently, this system involves radar sensors, TSN switching capability, device-level security and condition-based monitoring (CbM).
