Europe Time-sensitive Networking Market By Component (Switches, Connectors, Hubs, Routers, & Gateways, Memory, Controllers & Processors, Power Supply Devices, Isolators & Convertors and Others), By Application (Industrial Automation, Automotive, Energy & Power, Oil & Gas, Aerospace and Other), By Country, Growth Potential, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The Europe Time-sensitive Networking Market would witness market growth of 44.2% CAGR during the forecast period (2021-2027).
Time-sensitive Networking (TSN) has gained popularity among numerous key players across different industry verticals and is making TSN a networking platform for industrial IoT. Avnu Alliance is a core entity operating to make an interoperable ecosystem for TSN. This would lead to the usage of TSN as a way of machine-to-machine communication. Though, the incapability of TSN standards to offer personalized solutions would hinder the growth of the TSN market. But, the rising deployment of TSN in the automotive industry and growing test bed tasks is estimated to fuel the growth of the TSN market during the forecast period.
There are different approaches needed for the different real-time requirements. TSN helps in building the foundation to fulfill these needs and the spectrum makes it possible to meet the numerous latencies, jitter, and reliability needs. However, the standardization procedure is not still complete and the deployment of several standards is yet in progress, main features can already be combined into products. Any alteration or update can be deployed consequently with corresponding IP Core support services.
Developed nations like Germany are showcasing a surge in the demand for various advanced technologies and solutions, which is opening new growth prospects for the time-sensitive networking market in this region. Several companies are getting more aware of how TSN is beneficial in cutting down system costs and other maintenance costs, thus increasing the adoption rate of TSN solutions in their premises.
It would further enable TSN providers to garner a significant share in the market. In addition, the increasing adoption of autonomous vehicles in the Netherlands is supporting the growth of the regional TSN market as TSN is used in autonomous vehicles to establish a communication system across various systems or components of the vehicle. Due to all such factors, the TSN market would augment in the Europe region during the forecast period.
The Germany market dominated the Europe Controllers & Processors Time-sensitive Networking Market by Country 2020, thereby, achieving a market value of $10,184.2 Thousands by 2027. The UK market is exhibiting a CAGR of 43.8% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 46% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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.
Scope of the Study
Market Segments Covered in the Report:
- Hubs, Routers, & Gateways
- Controllers & Processors
- Power Supply Devices
- Isolators & Convertors
- Industrial Automation
- Energy & Power
- Oil & Gas
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- 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.
- Marvell Technology Group Ltd.
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