Network Slicing Market Size to Grow at a CAGR of 6.03% with USD Value of 0.98 Billion by 2030

Market Analysis:

The global network slicing market will touch USD 0.98 billion at a 6.03% CAGR by 2030, as per the recent Market Research Future report.

Market Segmentation:

The global network slicing market is bifurcated based on application, end user, and component.

Based on component, solution will lead the market over the forecast period.

By end user, telecom operators will domineer the market over the forecast period.

By application, healthcare will spearhead the market over the forecast period.

Key Players:

Prominent market players profiled in the global network slicing market report include

• Huawei Technologies (China)
• ZTE Corporation (China)
• Ericsson (Sweden)
• Affirmed Networks (US)
• CISCO Systems (US)
• Nokia (Finland)
• Samsung (South Korea)
• NTT Docomo (Japan)
• BT Group PLC (UK)
• NEC Corporation (Japan)
• Aria Networks (UK)
• Parallel Wireless (US)
• Mavenir (US)
• AMDOCS (US)
• Argela Technologies (Turkey)

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Market Scope:

Drivers:

Burgeoning Need for 5G Network to Boost Market Growth 

Compared to earlier mobile network generations, 5G offers improved speed and bandwidth capabilities. It has also made it possible to build exclusive virtual networks. Different design characteristics for bandwidth, security, reliability, latency, coverage, & service levels may be used to create virtual networks, which can then be created to best meet the demands of a given solution or application across the physical radio and core infrastructure of 5G. The development of 5G is expected to heavily rely on network slicing. As a result, this element has a considerable impact on the market for network slicing.

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Opportunities:

Proliferation of NFV and SDN to offer Robust Opportunities:

Network virtualization technologies like SDN and NFV are bringing software-based automation to contemporary networks. In the telecom sector, these technologies are driving digital transformation of the network infrastructure. Virtual machines are used by NFV to offer network operations including load balancing, routing, & firewalls. Conversely, SDN makes it possible for network managers to offer services throughout the whole network, regardless of the hardware. The components necessary for network slicing are provided by both SDN and NFV.

Restraints and Challenges:

Security Breaches to act as Market Restraints:

Security breaches and network slice request brokerage may act as market restraints in the forecast period.

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COVID-19 Analysis:

Globally, consumers, companies, and communities have all experienced great anxiety and financial suffering as a result of the COVID-19 epidemic. Because of the pandemic, demand for broadband solutions with high-speed access has increased dramatically as individuals deal with distant work and online schooling around the globe. Businesses all over the world have started to reopen as pandemic restrictions have eased and several economies are emerging from a prolonged lockdown period. Communication service providers have also shifted their focus to a faster 5G network rollout and accelerated investments in network slicing solutions. The network slicing industry is predicted to increase as a result of use cases such as e-health services, remote office, and remote education that will emerge after COVID-19.

Regional Analysis:

North America to Head Network Slicing Market:

Due to the speedier adoption of new technology in the region’s industrialized nations—the US and Canada—North America will be the leading regional market. With the substantial presence of major industry companies, the area is among the most technologically sophisticated regions. A high level of client digital engagement is another reason why the region is predicted to be among the first to adopt 5G network services in a number of industries, including media & entertainment, auto, and AR/VR.

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