The Asia Pacific Time-sensitive Networking Market would witness market growth of 47.8% CAGR during the forecast period (2021-2027).
Time-Sensitive Networking is defined as a group of Ethernet sub-standards described in the IEEE 802.1 TSN Task Group. TSN aims at developing a convergence among IT and industrial operational technology (OT) by extending and adapting to the prevailing Ethernet standards. In addition, TSN technology focuses on standardizing features on OSI-Layer 2 in a way that diverse protocols could share the same infrastructure. The problem prevails in configuring essential and non-essential data traffic so that real-time features and performance are not damaged.
A TSN network attains its complete potential whenever every component & device under the infrastructure is TSN friendly. There are many manufacturers of industrial devices & switches who are operating to develop TSN-compatible products. At the time of Plug Fests, products from every manufacturer are verified for standards-compliant interoperability.
The increasing awareness of the benefits of time-sensitive networking among various enterprises would support regional growth, especially in developing economies like India and China. In addition, the swift economic development and significant adoption of numerous technologies by the companies are motivating the TSN solution providers to excel in the regional market.
In addition, Singapore is witnessing a high demand for switches, which would augment the time-sensitive networking market during the forecast period. There are many companies in the Asia Pacific region, which are increasingly spending on the implementation of various advanced technology that would further create more demand for TSN solutions and hence, bolster the market growth.
The Industrial Automation market dominated the Malaysia Time-sensitive Networking Market by Application 2020, thereby, achieving a market value of $7,145 Thousands by 2027. The Automotive market is estimated to grow at a CAGR of 51.4% during (2021 - 2027). Additionally, The Energy & Power market is showcasing a CAGR of 54% during (2021 - 2027).
Based on Component, the market is segmented into Switches, Connectors, Hubs, Routers, & Gateways, Memory, Controllers & Processors, Power Supply Devices, Isolators & Convertors and Others. Based on Application, the market is segmented into Industrial Automation, Automotive, Energy & Power, Oil & Gas, Aerospace and Other. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Time-sensitive Networking Market is Projected to reach USD 1.4 Billion by 2027, at a CAGR of 45.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Belden, Inc., Cisco Systems, Inc., Intel Corporation, National Instruments Corporation, NXP Semiconductors N.V., Microchip Technology, Inc., Analog Devices, Inc., Broadcom, Inc., Advanced Micro Devices, Inc., and Marvell Technology Group Ltd.
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