The global network slicing market size reached a value of US$ 299.9 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,082.2 Million by 2027, exhibiting at a CAGR of 24.06% during 2022-2027.
Network slicing refers to the method of building multiple logical and unique virtualized networkson a common physical infrastructure which is an essential network configuration component of the fifth-generation (5G)architectural landscape. It is generally created by mobile network operators (MNOs) using network functions virtualization (NFV), software-defined networking (SDN), analytics, orchestrationand automation for supporting a specific application or a set of networks. It aids in minimizing operating costs, reducing capital expenditureand providing improved operational efficiency by transforming business operations andtailoring networking specifications. As a result, it is widely adopted in real-time streaming, asset management, supply chain management and network monitoring.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Network Slicing Market Trends:
The global market is primarily driven by the increasing demand for network slicing by communication service providers. This is supported by continual improvements in the cellular network technology and the escalating preference for high-speed internet connectivity among the masses. Additionally, the sudden outbreak of coronavirus disease (COVID-19) has led to the growing demand for broadband services across geographically extended areas, which ispositively impacting the market. Along with this, continuous technological advancements and the deployment of the 5G services in artificial intelligence (AI), autonomous driving, virtual reality (VR) and augmented reality (AR) applications are providing an impetus to the market. Furthermore, rising public and private sector investments in upgrading existing telecom infrastructure across multiple countries are positively influencing the market.
Furthermore, the increasing adoption of 5G network for conductingcomplex surgeries using robots in the healthcare sector is acting as another growth-inducing factor. Other factors, including the expansion of smart grids as an initiative of smart city development and extensive research and development (R&D) activities conducted by key players, are also projected to drive the market growth.On account of the aforementioned factors,?the market is anticipated to reach a value of US$ 1,082.2 Million by 2027, expandingat a CAGR of 24.06% during 2022-2027.
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Network Slicing Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Affirmed Networks Inc. (Microsoft Corporation), Amdocs, Argela Technologies (Türk Telekomünikasyon A.?.), Aria Networks Ltd., BT Group plc, Cisco Systems Inc., Hewlett Packard Enterprise Development LP, Huawei Technologies Co. Ltd., Mavenir, NEC Corporation (AT&T Inc.), Nokia Corporation, Samsung Electronics Co. Ltd, Telefonaktiebolaget LM Ericsson and ZTE Corporation.
The report has segmented the market on the basis on component, end user and industry vertical.
Breakup by Component:
- Solution
- Services
Breakup by End User:
- Telecom Operators
- Enterprises
Breakup by Industry Vertical:
- Manufacturing
- Healthcare
- Automotive
- Media and Entertainment
- Transport and Logistic
- BFSI
- Government
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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