Network slicing market is projected to grow at a Compound Annual Growth Rate (CAGR) of 21.9% during the forecast period
The global network slicing market size is expected to grow from USD 112.3 million in 2017 to USD 302.2 million by 2022, at a CAGR of 21.9%. With the increasing demand for broadband services over mobile networks, the significant growth in mobile data traffic volumes, the rising demand for high-speed and large network coverage, and the virtualization of networks are expected to be the major drivers for the growth of the market. Since the operators have started to invest in new technologies to address the efficiency and flexibility demands of the new service deployments, the maximum potential value that can be arrived at. There are major challenging factors that are expected to hamper the market growth, such as the lack of edge computing resources and access to slicing standardization. The network slicing market is expected to grow with the continuous increase in the number of Internet of Things (IoT) connected devices and agile networks.
The remote monitoring application area is expected to grow at the highest CAGR in the network slicing market during the forecast period
As global businesses are adopting the digital platforms, remote monitoring has become a crucial part in maintaining a competitive edge in the market. 5G solutions represent a paradigm shift in the remote monitoring application and its tracking possibilities, enhanced with the information transmission between the sensors. This paradigm shift helps in using the remote monitoring application in medical-grade wearables, virtual doctor-patient interactions, and remote operation of vehicles and surveillance, and remotely operated robotic surgeries.
“North America is expected to have the largest market size and projected to grow at the highest rate during the forecast period
North America is estimated to have the largest market share in 2017. The factors that are popularizing this growth include as the increasing adoption of smart connected devices, Industrial Internet of Everything (IIoE), and agile networks. North America has always topped the list in adopting new technologies in the world, and as a result, it has the largest number of 5G vendors providing network slicing technologies. Moreover, the increased budgets and grants have invited various big players to make significant investments in this region.
Network slicing has seen diverse use cases across various verticals in the US. These use cases provide network slices for diverse services that require various features, such low latency, high bandwidth, and speed. After the US, Canada is expected to have the major share in the network slicing market in North America. The Canadian companies are improving and optimizing their network processes by utilizing network slicing technologies.
In the process of determining and verifying the market size of several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.
The break-up of the profiles of the primary participants is as follows:
- By Company: Tier 1 – 50 %, Tier 2 – 30%, and Tier 3 – 20%
- By Designation: C-Level – 70%, Director Level – 18%, and Others – 12%
- By Region: North America – 71%, Europe – 13%, and Asia Pacific (APAC) – 16%
The network slicing market includes various major vendors, such as Ericsson (Sweden), Huawei (China), Nokia (Finland), Intel (US), Cisco (US), ZTE (China), SK Telecom (South Korea), and NTT DOCOMO (Japan).
The report includes an in-depth competitive analysis of the key players in the network slicing market, along with their company profiles, recent developments, and key market strategies. The report segments the network slicing market into components (technologies and services), application areas, and region.
Reasons To Buy the Report
The report will help the market leaders/new entrants in the network slicing market in the following ways:
- The overall network slicing market revenue stream has been estimated based on the revenues generated by professional and managed service providers. The report provides the closest approximations of the revenue numbers for the overall market and the subsegments. The market numbers are further split into regions.
- The report helps the stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
- The report will help the stakeholders to understand the competitors and gain more insights to better their market position. The competitive landscape section includes the competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.