Network Slicing Market by Component, Application (Remote Monitoring, Supply Chain Management, Real-time Streaming, Network Monitoring), End User (BFSI, Manufacturing, Healthcare, Automotive, Retail, Transportation), and Geography?Global Forecast to 2027
The research report titled “Network Slicing Market by Component, Application (Remote Monitoring, Supply Chain Management, Real-time Streaming, Network Monitoring), End User (BFSI, Manufacturing, Healthcare, Automotive, Retail, Transportation), and Geography?Global Forecast to 2027” provides an in-depth analysis of the network slicing market in five major geographies and emphasizes on the current market trends, market size, market shares, recent developments, and forecasts till 2027. The network slicing market is expected to reach $893.1 million by 2027, at a CAGR of 15.2% during the forecast period, 2020 to 2027.
The growth of this market is mainly attributed to factors such as the increasing demand for broadband services over mobile networks, rising need for ultra-low latency communication, significant growth in mobile data traffic volumes, and rising demand for high-speed and wide network coverage.
The study offers a comprehensive analysis of the network slicing market based on component, application, end user, and geography. The network slicing market is segmented based on component (solutions, services), application (remote monitoring, supply chain management, asset management, real-time streaming, network monitoring, multimedia, and others), end user (BFSI, manufacturing, healthcare, energy & utilities, automotive, retail, transportation, media & entertainment, and others), and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on component, the solutions segment emerged as the largest segment in terms of market share in 2020. The large share of this segment is mainly attributed to the rising demand for high-speed and wide network coverage, growing mobile data traffic volumes, and increasing need for ultra-low latency. Besides, benefits such as enhanced business agility, flexibility, scalability, and low-latency delivery of real-time applications further augment the growth of this segment.
Based on end user, in 2020, the healthcare segment commanded the largest share of the network slicing market. Growing investments in 5G, the proliferation of wireless medical devices, and the growing adoption of remote healthcare services are factors driving the growth of the healthcare segment. Besides, the growing use of telemedicine and remote monitoring in the wake of the COVID-19 pandemic has further highlighted the significance of network slicing solutions and services.
Geographically, the market is segmented into five major geographies, namely North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2020, Asia-Pacific commanded the largest share of the network slicing market. However, North America is expected to witness rapid growth during the forecast period. The rapid growth of this regional market is mainly driven by the increasing adoption of advanced technologies across a wide range of industries to counter the rising labor costs in countries such as the U.S. and Canada, supportive government initiatives across the region, and investments by major network slicing companies.
The key players operating in the network slicing market are ZTE Corporation (China), Cisco Systems, Inc. (U.S.), Ericsson AB (Sweden), Affirmed Networks, Inc. (U.S.), Mavenir Systems, Inc. (U.S.), Huawei Technologies Co., Ltd (China), Nokia Corporation (Finland), Parallel Wireless, Inc. (U.S.), Amdocs, Inc. (U.S.), and Intel Corporation (U.S.).
Key Questions Answered in the Report-
- Which are the high-growth market segments in terms of component, application, end user, and geography?
- What is the historical market size of the global network slicing market?
- What are the market forecasts and estimates for the period 2020–2027?
- What are the major drivers, restraints, opportunities, and challenges for the global network slicing market?
- Who are the major players in the global network slicing market and what share of the market do they hold?
- Who are the major players in various countries and what share of the market do they hold?
- How is the competitive landscape?
- What are the recent developments in the global network slicing market?
- What are the various strategies adopted by the major players in the global network slicing market?
- What are the geographical trends, and which are the high-growth countries?
- Who are the local emerging players in the global network slicing market, and how do they compete with the other players?
Scope of the Report
Network Slicing Market, by Component
o Professional Services
? Consulting Services
? System Integration Services
? Network Planning and Optimization Services
o Managed Services
Network Slicing Market, by Application
- Remote Monitoring
- Supply Chain Management
- Asset Management
- Real-time Streaming
- Network Monitoring
- Other Applications
Network Slicing Market, by End User
- Energy & Utilities
- Media & Entertainment
- Other End Users
Network Slicing Market, by Region
- North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
- Latin America
- Middle East & Africa