The network slicing market growth is projected to grow at USD 0.98 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6.03% during the forecast period.
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).
Network slicing is a concept in telecommunications and networking that involves partitioning a single physical network infrastructure into multiple virtual networks, each tailored to specific use cases or requirements. It allows network operators to create isolated and independent virtual slices within a shared network infrastructure, enabling customized services and optimized resource allocation for different applications, industries, or customer groups.
Here are some key points about network slicing:
Customization: Network slicing enables the creation of virtual networks with customized characteristics to meet specific requirements. Each slice can have its own network architecture, protocols, quality of service (QoS) parameters, security policies, and resource allocations.
Resource Efficiency: With network slicing, resources such as bandwidth, computing power, and storage can be allocated dynamically and efficiently based on the needs of each slice. This enables better utilization of network resources and improved overall network performance.
Multiple Use Cases: Network slicing can support a wide range of use cases and industries. For example, in 5G networks, network slices can be created for applications like autonomous vehicles, industrial IoT, augmented reality/virtual reality (AR/VR), healthcare, smart cities, and more. Each slice can be optimized to provide the required performance, latency, and reliability for the specific application.
Isolation and Security: Each network slice is isolated from others, ensuring that the performance or security issues in one slice do not affect others. This isolation provides better security and privacy for different applications and user groups.
Service Agility: Network slicing enables faster deployment of new services and applications by creating dedicated virtual networks. Network operators can quickly provision and configure slices to meet the specific requirements of new services, allowing for greater service agility and innovation.
Network Slice Lifecycle Management: Network operators need to manage the lifecycle of network slices, including creation, activation, monitoring, optimization, and termination. This involves managing the allocation of resources, monitoring slice performance, and ensuring SLA compliance for each slice.
Interoperability and Orchestration: To support network slicing, interoperability and orchestration mechanisms are required to efficiently manage and coordinate the resources and services across different network domains and technologies.
Network slicing is a fundamental concept in the development and deployment of next-generation networks like 5G and beyond. It enables the network infrastructure to be flexible, scalable, and capable of supporting diverse and evolving applications and services with different requirements. Network operators can offer tailored solutions to various industries, optimizing the network for their specific needs and unlocking new opportunities for innovation and revenue generation.
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 solutions 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.
The global market for agriculture analytics is projected to expand at 51.48% CAGR during the forecast period, to reach 1,936.67 million by 2026. The geographic analysis of the network slicing market has been conducted in North America, Europe, Asia-Pacific, 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 offering network slicing solutions. 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.
The European market has been segmented into the UK, Germany, France, and the rest of Europe. In terms of market size, Europe is expected to be the second-largest regional market. The UK is projected to be the leading country-level market in the region, while Germany is projected to register the highest growth during the review period. The growing adoption of virtualized network slicing solutions is expected to boost the growth of the regional market.
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.
The markets in the Middle East & Africa and South America have started adopting these technologies only recently. Numerous government initiatives and investments by major players in the telecommunications industry are expected to spur the growth of the regional market.