Network time protocol or in short NTP is a protocol used to synchronize computer clock timing in the network. The term NTP is applicable to both protocol and client-server programs that run on computers and servers. Moreover, network time protocol is essential for monitoring networks and resolving issues within it. NTP servers, of which there are thousands around the globe, connect with highly precise atomic clocks and GPS clocks. Particular recipients are required to directly communicate with the NTP servers for these purposes. It is not possible to connect every computer individually to the NTP servers.
Moreover, computers assigned as essential time servers are equipped with the beneficiaries, and they use conventions, for instance, NTP to synchronize the clock times of organized computers. NTP utilizes coordinated universal time (UTC) to synchronize PC clock times with high precision, offering more remarkable precision on smaller systems - down to a single millisecond in a local network and within several milliseconds over the web. NTP doesn't represent time zones, rather than depending on the host to perform such calculations.
Moreover, NTP servers are used in various industries such as Financial and Trading, Broadcast, IT Networks and Data Centres, Healthcare, Telecommunication and others.
Factors driving growth of the global NTP server market:
Various governments are imposing rules for organisations to use NTP servers and failure to comply can lead to hefty fines and cancelation of licence. Different government bodies have different requirements for NTP servers. For instance, the Food and Drug Administration (FDA), a federal agency of the U.S. government, says in FDA 21 CFR Part 11 act that utilization of secure, computers-produced, time-stepped review trails to autonomously record the date and time of administrator sections and activities that make, alter, or erase electronic records is mandatory. If a company fails to comply with these rules it can lead to heavy fines from the FDA.
According to the Financial Industry Regulatory Authority (FINRA), a financial regulatory authority of the U.S., All clocks, including computers framework clocks, and time-stepping devices must stay precise inside 1 second of the National Institute of Standards' (NIST) atomic clock.
Thus, use of computer systems in industries is increasing significantly and government bodies are imposing regulation to prevent crimes which is expected to drive demand for NTP servers during the forecast period (2019-2027).
Global NTP Server Market: Regional Insights
On the basis of region, the global NTP server market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Moreover, Europe held a major share in the global NTP server market in 2018 owing to presence of a large number of key players in the region such as Microchip Technology Corporation, Heol Design, Galleon Systems, Meinberg Funkuhren GmbH & Co KG., GORGY TIMING, and Phoenix Datacom Limited, Oscilloquartz SA among others.
Key Players in the Global NTP Server Market:
Key players operating in the market are Brandywine Communications, Microchip Technology Corporation, Heol Design, Galleon Systems, Meinberg Funkuhren GmbH & Co KG., GORGY TIMING, Phoenix Datacom Limited, Kyland Technology Co., Juniper Networks, Inc., and Oscilloquartz SA among others.
Global NTP Server Market: Taxonomy
On the basis of type, the global NTP server market is segmented into:
On the basis of application, the global NTP server market is segmented into:
On the basis of region, the global NTP server market is segmented into: