LONDON--(BUSINESS WIRE)--The global time-sensitive networking (TSN) market is expected to post a CAGR of more than 52% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global time-sensitive networking market size is the digital transformation of the end-user industries. Industry 4.0 has transformed various end-user industrial processes through advanced technologies such as cloud computing, IoT, data analytics, big data, 3D printing, augmented reality, and Web 2.0. Such developments require low-latency, high-speed, high-bandwidth, and flexible networks to ensure scalability. The use of time-sensitive networking allows end-users to implement IoT technologies by connecting sensors and embedded devices that can access real-time data and information. Time-sensitive networking also helps end-users connect with their suppliers and customers through integrated IT systems. Therefore, the increasing focus of organizations on digital transformation is expected to augment the growth of the time-sensitive networking market worth during the forecast period.
As per Technavio, the advent of smart cities will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global time-sensitive networking market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Time-sensitive networking market: Advent of smart cities
Various countries across the world are increasingly focusing on the implementation of smart cities that involve advances such as automatic traffic control, home monitoring, waste management, water management, and safe and intelligent transportation. As the number of smart cities is expected to grow rapidly, a significant amount of data will be generated from the installed smart connected devices in these cities. The analysis of this data is necessary for further improvements and innovations. Therefore, many companies are focusing on installing time-sensitive networking in smart cities to have high-speed networking and to gain asynchronous traffic shaping. Thus, the advent of smart cities will fuel the time-sensitive networking market growth during the forecast period.
“Apart from the advent of smart cities, other factors such as the increasing adoption of autonomous and electric vehicles, rising dependence on the Internet, and the emergence of advanced analytical tools will have a positive impact on the growth of the time-sensitive networking market size during the forecast period,” says a senior analyst at Technavio.
Global Time-sensitive networking market: Segmentation analysis
This market research report segments the global time-sensitive networking market by application (industrial automation, automotive, digital communication, power and energy, and others) and geographic regions (APAC, Europe, MEA, North America, and South America).
The North American region led the TSN market in 2018, followed by Europe, APAC, MEA, and South America respectively. The growth of the time-sensitive networking market revenue in North America can be attributed to the increasing adoption of secured cloud services and the high adoption of advanced technologies such as 5G and AGVs in various industries. The US and Canada are the main revenue contributors to the market in the region.
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- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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