Market Overview
The Network Slicing Market was worth USD 143.63 billion in 2020 and is predicted to be worth USD 446.33 billion by 2026, growing at a CAGR of 20.8 per cent between 2021 and 2026. According to the GSMA, network slicing, in conjunction with other enablers and capabilities, will assist operators in addressing a USD 300 billion income opportunity by 2025. The Network Slicing Market research report aims to provides industry information and data on the national and international markets thereby helping the market leaders, investors, small businesses, and
5G networks, in conjunction with network slicing, enable corporate clients to experience customised connection and data processing that adhere to a Service Level Agreement (SLA) as agreed with the mobile operator. Data speed, latency, quality, security, and services are all customizable network capabilities. As the market's demand for high-speed network coverage grows, new opportunities will emerge.
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Market Segmentation
The network slicing market is classified by the end-user as BFSI, Manufacturing, Healthcare, Energy & Utilities, Automotive, Retail, Transportation, Media & Entertainment, and Others. By 2021, the healthcare sector would have captured the lion's share of the entire network slicing industry. Rising investments in 5G, the proliferation of wireless medical equipment, and the growing acceptance of remote healthcare services are the primary reasons driving the healthcare segment's rise. Following the COVID-19 epidemic, the growing popularity of telemedicine and remote monitoring has underlined the necessity of network slicing, and thus the segment holds enormous development potential for the deployment of network slicing solutions and services in the next years. However, the manufacturing sector is expected to grow at the fastest rate during the predicted period. The drivers driving the quickest growth are the increasing requirement for greater flexibility, cheaper costs, shorter lead times for factory floor production reconfiguration, as well as improved product quality.
The network slicing market is divided into five primary regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The Asia-Pacific region will hold the highest proportion of the global network slicing market in 2021. The presence of important firms delivering innovative network slicing solutions and services to numerous sectors accounts for the region's large share.
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Regional Classification
The network slicing market has been divided into five regions: Asia-Pacific, North America, Europe, the Middle East and Africa, and South America.
Because of the speedier adoption of innovative technology in the region's industrialised countries—the United States and Canada—North America is projected to be the leading regional market. The region is one of the most technologically advanced, with important industry players such as CISCO Systems, Affirmed Networks, Parallel Wireless, Mavenir, and AMDOCS having a strong presence. Furthermore, due to significant customer digital engagement, the region is likely to be an early adopter of 5G network services in a variety of fields such as media and entertainment, automotive, and AR/VR.
Industry News
Ericsson introduced a 5G RAN Slicing software solution in January 2021, allowing communication service providers to deploy 5G use cases to consumers and enterprises. The 5G RAN slicing solution is intended to improve end-to-end network slicing capabilities, which may be required to deliver multiple services over a similar infrastructure as well as provide tailored business models and growth requirements for the most sophisticated use cases.
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