Network Slicing Market – Global Industry Analysis and Forecast (2023-2029)

Network Slicing Market size was valued at US$ 370.01 Mn. in 2022 and the total revenue is expected to grow at 51.6 % through 2023 to 2029, reaching nearly US$ 6809.5 Mn.
Network Slicing Market Overview:
Over a multi-domain infrastructure, network slicing is a mechanism for constructing numerous separate virtualized and logical networks. Asset management, real-time streaming, network monitoring, supply chain management, and remote monitoring are all common applications. By adapting networking specifications, network slicing aids in lowering operating expenses (OPEX), altering business operations, lowering capital expenditure (CAPEX), and improving operational efficiency. It also allows a single network operator to provide differentiated services at scale dependent on the needs of the user. As a result, network slicing is widely used in areas like healthcare, automotive, manufacturing, entertainment, banking, financial services, and insurance (BFSI).

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Network Slicing Market Dynamics:
Edge and cloud computing are being used by an increasing number of mobile carriers to deliver low-latency, high-speed, and secure connection to the network edge while enhancing operational efficiency. For example, Keysight Technologies, a California-based electronics manufacturer, joined the Google Cloud Partner project in August 2021 to accelerate 5G services at the network edge. As a Google Cloud partner, Keysight Technologies will also assist service providers in making the move to edge and cloud computing, which is required for offering new applications such as cloud gaming, streaming media, linked automobiles, and private wireless networks.

The growth of network slicing is also the growing business application of network slicing in various industry verticals, including government and corporate sectors. Digitization, automation, and Industry 4.0 have undergone rapid changes in the adoption of business applications. The ever-increasing demands of consumers and businesses for operational agility have led to cross-industry digital transformation. Enterprises need a strong network to support digital transformation, which has led to the adoption of network slicing as technology advances and the ecosystem continues to evolve.

Additionally, businesses are migrating to 5G networks to handle data from millions of IoT devices, boosting the global network slicing industry. For example, Itential, a network and cloud automation firm, teamed up with Kaloom, an edge networking software startup, in June 2021. Both organisations will now be able to combine, automate, and deploy network slicing intelligence to their clients.

Some challenges such as security breaches and information sharing and exposure restrictions may hinder market growth and ultimately hinder the global network slicing market. Additionally, CIOs are mostly concerned about network slicing security, which can result in significant losses for organisations and service providers. The new network infrastructure was built using SDN, NFV, and cloud-native design. Network functions are abstracted from the infrastructure that supports them and distributed across local, regional, and centralized data centres.
Network Slicing Market Segment Analysis:
Based on the Component, the Network Slicing market is sub-segmented into Solutions and Services. The Solutions segment held the largest market share of xx% in 2022. The growing need for high-speed and broad network coverage, as well as the increasing smartphone usage and ultra-low latency communications, are all contributing to this market segment's greater share. The advantages of network slicing, such as mobility, versatility, adaptability, and limited distribution of real-time applications, are also driving this segment's growth. During the forecast period, the solutions segment is expected to develop at the fastest compound annual growth rate. Because the technology is still in its infancy, demand for network slicing solutions is likely to surge during the forecast period.

Based on the End-User, the Network Slicing market is sub-segmented into Healthcare, Energy and Utilities, Transportation and Logistics, Manufacturing, Media and Entertainment, Government and Others. The Healthcare segment held the largest market share of 21% in 2022. The benefits of network slicing, such as reduced latency difficulties, improved IT agility, higher speed and bandwidth connectivity, remote monitoring capability, and trustworthy healthcare application services, account for a substantial share of this market. In addition, the rapid adoption of virtual healthcare services, particularly in the aftermath of the COVID-19 epidemic, is estimate to drive demand for network slicing solutions.

Healthcare organisations are collaborating with major telecommunications firms to deploy 5G network slicing technology across the industry. For example, in October 2021, the China Association of Medical Equipment (CAME) and more than 30 hospitals collaborated with significant telecom service providers such as Huawei, China Mobile, China Unicom, and China Telecom to release the 5G Hospital Network Standard, following the recommendations of China's National Health Commission (NHC).
Regional Insights:
North America held the largest market share of 29.2% in 2022 and it maintain its leading position during the forecast period. This is significant because of the region's increasing adoption of cutting-edge technology, such as agile networks and smart connected devices, to install 5G networks platforms for business processes. Furthermore, one of the primary factors estimated to boost the regional growth of the network slicing market throughout the forecast period is the presence of top network slicing solution providers.

Asia Pacific is expected to grow at a highest CAGR of 24.9% in the Network Slicing market during the forecast period. As a result of the growing use of mobile devices in developing countries like India and China. In 2022, the number of unique mobile subscribers hit 2.8 billion, while mobile internet users reached 1.9 billion, according to the GSMA's 'The Mobile Economy Asia Pacific 2021' research. As the number of internet subscribers grows, so does the amount of data traffic generated, allowing telecom operators to install advanced network technologies to handle it. By creating many virtual network slices, network slicing aids telecom operators in managing escalating network traffic. Government plans to commercialize the next-generation 5G network are also helping to boost the regional market.

The objective of the report is to present a comprehensive analysis of the Network Slicing Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also helps in understanding the Network Slicing Market dynamic, structure by analyzing the market segments and project the global Network Slicing Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Network Slicing Market make the report investor’s guide.
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Global Network Slicing Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 370.01 Mn.


Forecast Period 2023 to 2029 CAGR:
51.6 %
Market Size in 2029:
US $ 6809.5 Mn.


 Segments Covered:
by Component
Solutions
Services


by Professional Services
Consulting
Integration & Deployment
Support & Maintenance
Network Testing
Network Planning & Optimization


by Application
Asset Management
Remote Monitoring
Network Monitoring
Supply Chain Management
Real-Time Streaming
Multimedia


by End-User
Healthcare
Energy and Utilities
Transportation and Logistics
Manufacturing
Media and Entertainment
Government
Others



Network Slicing Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players
1. Argela Technologies
2. Cisco Sys`tems Inc.
3. Hewlett Packard Enterprise
4. Huawei Technologies Co., Ltd.
5. Mavenir
6. Nokia
7. Samsung
8. Telefonaktiebolaget LM Ericsson
9. ZTE
10. Ericsson
11. Aria Networks
12. Intel
13. SK Telecom
14. NTT Docomo
15. AFFIRMED NETWORKS INC.
16. AMDOCS
17. Parallel Wireless
18. Tambora Systems
19. Blue Planet

Frequently Asked Questions:

1] What segments are covered in Network Slicing Market report?
Ans. The segments covered in market report are based on Component, Professional Service, Application and End-User.

2] Which region is expected to held the highest share in the global Network Slicing Market?
Ans. North America is expected to held the highest share in the global market.

3] What is the market size of global Network Slicing Market by 2029?
Ans. The market size of global market is expected to reach US $ 6809.5 Mn. by 2029.

4] Who are the top key players in the global Network Slicing Market?
Ans. Argela Technologies, Cisco Systems Inc., Hewlett Packard Enterprise, Huawei Technologies Co., Ltd., Mavenir, Nokia and Samsung are the top key players in the global market.

5] What was the market size of global Network Slicing Market in 2022?
Ans. The market size of global market in 2022 was US $ 370.01 Mn.