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The Network Slicing business is impacted by different market factors that assume a significant part in molding its elements and development direction. One critical variable is the quick development of 5G innovation. The coming of 5G has introduced another time of availability, offering remarkable speed and low dormancy. Network Slicing, as a critical element of 5G, permits administrators to make numerous virtual organizations on a solitary actual framework. This adaptability empowers the customization of administrations for different applications, like shrewd urban communities, modern robotization, and increased reality. The interest for network cutting is accordingly pushed by the rising reception of 5G across enterprises.
Another market factor driving the development of Network Slicing is the flood in Web of Things (IoT) gadgets. The multiplication of associated gadgets across different areas, from medical services to assembling, requires an organization framework equipped for taking care of different necessities. Network cutting gives an answer by permitting administrators to designate explicit cuts for various sorts of IoT applications. This guarantees upgraded execution, security, and asset use, tending to the interesting requirements of each utilization case. As IoT keeps on extending, the interest for network cutting is supposed to proportionately rise.
Moreover, the market for Network Slicing is affected by the raising interest for upgraded portable broadband administrations. The demand for advanced network capabilities is being driven by the consumer demand for high-speed internet, seamless connectivity, and immersive multimedia experiences. Network cutting empowers administrators to designate committed cuts for upgraded portable broadband, guaranteeing that clients get the ideal degree of administration quality. This is especially pivotal in thickly populated metropolitan regions where network blockage is a typical test. As urbanization and cell phone use keep on developing, the market for network cutting is ready for extension.
Interoperability and normalization likewise assume a vital part in molding the organization cutting business sector. Keeping equipment and networks from various vendors compatible and seamlessly integrated becomes increasingly important as technology advances. Normalization endeavors by industry associations and cooperation among partners are fundamental to lay out a bound together system for network cutting sending. The foundation of normal guidelines works with interoperability, lessens organization intricacy, and advances a sound cutthroat scene. Market players are intently checking and effectively partaking in these normalization drives to profit by the learning experiences introduced by a blended biological system.
Additionally, the market dynamics of Network Slicing are influenced by regulatory initiatives and policies. States and administrative bodies assume an essential part in molding the media communications scene. Strategies that advance 5G organization and backing the execution of cutting edge innovations like Network Slicing can altogether influence market development. Administrative structures that encourage development, contest, and interest in broadcast communications framework establish a helpful climate for the extension of Network Slicing administrations.
Network Slicing Market Highlights:
Network Slicing Market Snapshot
The network slicing market size is projected to grow from USD 105.74 million in 2019 to USD 0.98 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6.03% during the forecast period.
Network slicing technology supports multiple logical networks for different services type over one common network infrastructure. The evolution of 5G technology is expected to be one of the key drivers for the network slicing market. As 5G technology scales, network slicing is going to be one of the major 5G deployment models. Service providers are looking to maximize their RoI by targeting innovative and high revenue-generating network slicing applications such as cloud gaming, smart healthcare, and IoT applications. Network slicing among 5G networks will permit business customers to attain high connectivity and data processing speeds tailored to their specific requirements. Network slicing is considered to be the most integrated solution for unlocking opportunities among enterprises in the 5G era.
A network slice is an end-to-end logical network that runs on shared physical infrastructure, capable of providing high service quality. A network slice comprises a dedicated server and shared resources in terms of processing power, storage and bandwidth and has isolation from other network slices.
The major factors driving the growth of the network slicing market includethe advancements in the 5G technology, increasing demand for high-speed network coverage across various market segments and the integration of software-defined networking (SDN) and network function virtualization (NFV). The ability to improve operational efficiencies and time to market for delivering 5G networks across different verticals and reduce expenses & capital expenditure among network operators provide opportunities in the network slicing market. However, the security breaches while allowing resource sharing among multiple networks and proper optimization of resource usage in a network slice arefactors hindering the market growth.
Impact of COVID-19
The COVID-19 pandemic has caused widespread concern and economic hardships for consumers, businesses, and communities worldwide. The outbreak has significantly pushed demand for broadband services with high-speed connectivity as people across the globe are coping with remote working and online education. As the pandemic restrictions are easing and several economies around the world are coming out of an extensive lockdown period, businesses around the globe have started to reopen, and communication service providers have shifted their focus to a faster 5G network rollout and have accelerated investments in network slicing solutions. The use cases post covid-19 such as remote office, e-health services, remote education are expected to further boost the network slicing market growth.
Market Segmentation
The global network slicing market has been segmented based on component, end user, application, and region.
Based on component, the network slicing market has been segmented into solution and services. The services segment has been further subdivided into professional services & managed services.
Based on end user, the network slicing market has been segmented into telecom operators and enterprises.
Based on application, the network slicing market has been segmented into manufacturing, healthcare, government, automotive, media & entertainment, and others.
Regional Analysis
In terms of region, the network slicing market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
North America is likely to be the dominant regional market due to the faster adoption of innovative technologies in developed countries in the region—the US and Canada. The region is one of the most technologically advanced regions with the strong presence of key industry players such as CISCO Systems, Affirmed Networks, Parallel Wireless, Mavenir and AMDOCS. Furthermore, the region is expected to become the early adopters of 5G network services in various areas such as media & entertainment, automotive, and AR/VR owing to high customer digital engagement.
Asia-Pacific is projected to register the fastest growth rate over the forecast period, with the regional market being segmented into China, Japan, India, and the rest of Asia-Pacific. This share can be attributed to the increasing developments of network infrastructure, IoT technologies and 5G technology. Furthermore, the increasing government and investments into network slicing technology in the region are likely to drive the growth of the regional market.
Companies Covered
The key players of the global network slicing market are 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), and Argela Technologies (Turkey).
Industry Developments
On Apr. 06, 2023, WiMi Hologram Cloud Inc., a leading global provider of Hologram Augmented Reality, announced the development of a new network slicing management system at the RAN (radio access network) side centered on artificial intelligence. WiMi develops an AI-enabled RAN-side network slicing management system for smart decision-making. The system uses network function virtualization (NFV) technology to instantiate multiple virtual networks on the same physical network infrastructure.
On Mar. 29, 2023, Nokia announced its plan to deploy transport network slicing for DoCoMo's 5G network. Docomo has deployed Nokia's 7750 SR-14s core routers to enhance its nationwide IP core and enable transport network slicing as it initiates new 5G mobile services. To deliver the network slicing for its innovative mobile services, DoCoMo will leverage the segment routing capabilities of Nokia's Service Router Operating System (SR OS) for traffic-engineered network slices for the granular SLAs required by DoCoMo's customers.
On Feb. 07, 2023, Ericsson, Far EasTone Telecommunications, and Taiwanese TV and multimedia company TVBS announced a collaboration to run 5G network slicing for marathon broadcasts in Taiwan. To ensure a significant viewing experience of the competition, companies used 5G network slicing to transmit live streaming data of the 21st New Taipei City Wan Jin Shi Marathon. Far EasTone uses network-slicing technology in the crime-fighting realm for a 5G smart patrol police car. Â
On Jan.20, 2023, Samsung Electronics and KDDI announced that they have combined their technical expertise to demonstrate network slicing with RIC on a live 5G SA network. The successful demonstration of SLA (Service Level Agreements) ensures network slicing in a field trial conducted in Tokyo, Japan. The companies proved their capabilities to generate multiple network slices using a RAN Intelligent Controller (RIC) on a live commercial 5G Standalone (SA) network.Â
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