North America is expected to hold major share of TSN market during the forecast period.

Northbrook, IL -- (SBWire) -- 09/26/2018 --The time-sensitive networking (TSN) market is expected to be worth USD 606.0 million by 2024, growing at a CAGR of 53.8% considering that it will get commercialized by 2019.

Key opportunities for this market are increasing testbed activities by leading players and also rising OPC foundation activities for TSN. The major factor driving the growth of the TSN market is the growing adoption of Industrial IoT and Industry 4.0 solutions.

Key strategies adopted by the major players in the time-sensitive networking market are partnerships, and collaborations between 2014 and 2017 to grow in the market.

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Companies such as Cisco Systems, Inc. (US), NXP Semiconductors N.V. (Netherlands), Marvell Technology Group Ltd. (US), Microsemi Corporation (US), Intel Corporation (US), National Instruments Corporation (US), and Xilinx, Inc. (US) have adopted these strategies to focus on the innovation of products and enhance their product portfolio.

Cisco Systems Inc. (US) ranked first in the TSN market in 2016. It designs and sells a broad range of products and services for various applications. Cisco is a major player in the industry and provides various routing, switching, and wireless products through its IoT networking product portfolio. It offers a variety of switches for industrial applications such as factory automation, intelligent transportation system, substation automation, mining operations, oil & gas refining and delivery systems, and surveillance and remote-monitoring functions.

Cisco is one of the active members of Avnu Alliance Administration and OPC Foundation. Cisco participated in the first TSN testbed, which was held in June 2016 at National Instruments Corporation (US), with many other companies such as Intel Corporation (US) and National Instruments Corporation (US).

Also in May 2017, Cisco participated in the second testbed where Cisco announced that it has added TSN support IE4000 switch product to its switching portfolio. Furthermore, with product launches and partnerships, the company aims to establish itself as a leading player in the market.

NXP Semiconductors N.V. (Netherlands) held the second position in the TSN market. NXP Semiconductors N.V. is one of the leading global semiconductor companies and is an established supplier in this industry. The company aims to strengthen its position in connectivity solutions. The company merged with Qualcomm Inc. (US), which would help the company to expand its microcontroller and processor solutions. The company relies on strategic partnerships, joint ventures, and alliances for manufacturing and R&D. It is one of the leaders in secure connectivity solutions for embedded applications, for instance, in March 2017, the company introduced its latest offering— QorIQ® Layerscape SoC.

LS1028A integrates time-sensitive networking (TSN) capabilities based on IEEE 802.1 standards and provides TSN-enabled Ethernet switch and Ethernet controllers to support converged IT and OT networks. NXP is driving innovation in the secure connected vehicle, end-to-end security & privacy, and smart connected solutions markets.

Other companies operating in the time-sensitive networking market are Marvell Technology Group Ltd. (US), Microsemi Corporation (US), Intel Corporation (US), National Instruments Corporation (US), Xilinx, Inc. (US), Analog Devices, Inc. (US), Broadcom Limited (Singapore), Belden Inc. (US), Renesas Electronics Corporation (Japan), and TTTech Computertechnik AG (Austria).

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