The North America Time-sensitive Networking Market would witness market growth of 43.4% CAGR during the forecast period (2021-2027).
Time-sensitive Networking (TSN) determines a limited maximum latency for planned data traffic via switched networks and this is accomplished by describing queues that convey their messages based on the time schedules. In addition, TSN provides a mode to transmit time-critical traffic across a standard Ethernet Infrastructure in control applications such as the industrial & automotive sectors with stringent deterministic needs. The majority of industrial applications need real-time communication to carry out a safe & secure performance of operations. To fulfil this vital need, industries have deployed specific standard Ethernet networks operating in parallel.
A broad variety of applications need real-time communication, for which TSN provides higher flexibility and ease of usage without hampering the deterministic performance. The time-sensitive networking market is majorly driven by the adoption of industrial IoT for automation in numerous industries like aerospace, power, transportation, automobile, and among others. Additionally, the rising requirement for real-time networking & development of IEEE standards for deterministic Ethernet is another factor propelling the TSN market.
The presence of various leading and developed economies like Canada and the US is marking a significant impact on the regional TSN market. The prevalence of various strict rules and regulations in this region is creating demand for TSN solutions by different companies. In addition, the high adoption rate of the latest technologies across the North America region is pushing the TSN market forward in the region.
There are several government initiatives prevailing in this region, which facilitate high penetration and industrial automation, thereby augmenting the growth of the TSN market in this region. Moreover, companies in this region are highly investing in different technologies, which create lucrative opportunities for the market players to prosper in this region and acquire a significant market share.
The US market dominated the North America Time-sensitive Networking Energy & Power Market by Country 2020, thereby, achieving a market value of $57,119.1 Thousands by 2027. The Canada market is experiencing a CAGR of 47.9% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 46.6% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Time-sensitive Networking Market is Estimated 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.
By Component
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