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Network Slicing Market by Component (Solution and Services), End User (Telecom Operators and Enterprises), and Industry Vertical (Manufacturing, Healthcare, Automotive, Media & Entertainment, Transport & Logistic, BFSI, Government, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

A07916
Pages: 250
Jan 2021 | 1094 Views
 
Author(s) : Vikas Gaikwad & Rachita Rake
Tables: 52
Charts: 29
 

COVID-19

Pandemic disrupted the entire world and affected many industries.

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Network Slicing Market Statistics: 2027

The global network slicing market size was valued at $172.56 million in 2019, and is projected to reach $921.02 million by 2027, registering a CAGR of 23.7% from 2020 to 2027. Network slicing is a process of creating multiple unique virtualized and logical networks over a common multi-domain infrastructure. With the use of network functions virtualization (NFV), software-defined networking (SDN), orchestration, automation, and analytics, mobile network operators can quickly create network slices to support a specific application, set of users, service, or network. The use of network slicing enables single network to offer various services based on the requirements of the user as well as various use cases. Also, it helps network operators to reduce operating expenses (OPEX) and capital expenditure (CAPEX) along with the improved operational efficiency and time to market for the delivery of network services.

The pandemic has significantly pushed demands for broadband services with the help of growing mobile networking and remote access services in several industries such as retail, telecom, IT, and healthcare. In addition, as the businesses around the globe has started to reopen, communications service providers are shifting their focus to 5G rollouts, and are accelerating investments in network slicing. Moreover, COVID-19 has driven the demand for 5G use cases such as remote office, telemedicine, remote education, and robotics which further boost the network slicing market.

On the basis of component, the solution segment exhibited the highest growth in the network slicing market in 2019, and is expected to maintain its dominance in the upcoming years, due to the increase in adoption of network slicing solutions by communication service providers to significantly accelerate the time for delivering new applications and services. In addition, the market players are introducing advanced network slicing solutions to serve various needs of their customers. However, the services segment is expected to witness the highest growth, due to an extensive adoption of deployment and integration services among end users, as it ensures effective functioning of network slicing solution throughout the process.

Network-Slicing-Market-2020-2027

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By end user, the global network slicing market share was dominated by the telecom operators segment in 2019 and is expected to maintain its dominance in the upcoming years, due to the increasing demand for better speed as well as bandwidth connectivity to serve customer needs. In addition, the leading telecom operators across the globe are actively partnering with network solution providers to test the network slicing technology capabilities. However, the enterprise segment is expected to witness the highest growth, owing to the demand for robust network solutions to enhance productivity among enterprises. 

North America dominates the network slicing market, as the region is early adopter of 5G services in areas such as autonomous driving, augmented reality (AR), virtual reality (VR), and artificial intelligence (AI). In addition to this, government initiatives for the development of 5G telecom infrastructure in the region is significantly fueling growth of the market. For instance, in February 2019, the Federal Communication Commission (FCC) announced a strategy to facilitate 5G technology in America. This strategy included key components upgrading the existing telecom network infrastructure, forwarding more spectrum into the market, and modernizing the outdated regulations and laws. However, Asia-Pacific is expected to observe highest growth rate during the forecast period, owing to the extensive adoption of mobile devices across the developing countries such as China and India.

The report focuses on the growth prospects, restraints, and network slicing market analysis. The study provides Porter’s five forces analysis of the network slicing industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the network slicing market trends.

Segment review

The network slicing market is segmented on the basis of component, type, application, end user, industry vertical, and region. On the basis of component, it is categorized into solution and services. Depending on end user, it is divided into telecom operators and enterprises. On the basis of industry vertical it is categorized into manufacturing, healthcare, automotive, media & entertainment, transport & logistic, BFSI, government and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

COVID Impact Analysis

The COVID-19 pandemic has significantly pushed demands for broadband services with the help of growing mobile networking and remote access services in several industries such as retail, telecom, IT, and healthcare. As businesses around the globe have started to reopen, communications service providers are shifting their focus to 5G rollouts, and are accelerating investments in network slicing. In addition, COVID-19 has driven the demand for 5G use cases such as remote office, telemedicine, remote education, and robotics, which further boost the growth of the network slicing market. In addition, the market players have introduced innovative network slicing products during the pandemic to ensure better network slicing services. This factor drives the market growth. For instance, in October 2020, Nokia announced the solution to offer automation of 4G & 5G network slicing across all network domains, including RAN, core, and transport. It has introduced new network management, orchestration, and controller capabilities to its solution, enabling mobile operators to deliver and assure network slicing services.

Network Slicing Market
By Component

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Service segment is projected as one of the most lucrative segments.

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Top impacting factors    

The growth of the global network slicing market is mainly driven by factors such as increase in demand for next generation 5G network to enable better speed and bandwidth capabilities; rise in use cases of network slicing for Industry 4.0; and development of smart cities and smart services. In addition, rise in demand for network performance due to growth in mobile data-traffic volumes fuels demand for network slicing. Moreover, the proliferation of software-defined networking (SDN) and network function virtualization (NFV) is projected to drive market growth. However, security concerns associated with network slicing are expected to hamper the market growth to some extent. On the other hand, emerging applications across government, industrial, and enterprises sectors expected to provide lucrative opportunities for the network slicing market growth during forecast period. Also, rise in adoption for remote surgery and autonomous vehicle is anticipated to be opportunistic for the market growth during the network slicing market forecast period.

Increase in demand for next generation 5G network to enable better speed and bandwidth capabilities 

5G has brought better speed and bandwidth capabilities as compared to the previous generation mobile networks. In addition, it has also brought the ability to create isolated virtual networks. The virtual networks can have different design parameters for bandwidth, latency, security, reliability, coverage, and service levels and thus be designed to serve specific solution/application needs optimally over the 5G physical radio and core infrastructure. Network slicing is projected to play a pivotal role in the enablement of 5G. Hence, this factor significantly drives the growth of the network slicing market.

Network Slicing Market
By Industry Vertical

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Media & entertainment industry is projected as one of the most lucrative segments.

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The proliferation of software-defined networking (SDN) and network function virtualization (NFV) 

SDN and NFV are network virtualization technologies that are moving modern networks to the software-based automation. These technologies are leading the digital transformation of network infrastructure across the telecom industry. With NFV, network functions such as load balancing, routing, and firewalls are delivered by virtual machines. While, SDN enables network administrators to provide services throughout the network irrespective of the hardware components. Both SDN and NFV provide the ingredients required for network slicing.

In addition, NFV and SDN serving as a basis for network slicing, allowing network slicing to provide agile installations of networks to meet the requests of various services and applications.

Network Slicing Market
By Region

2027
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific is projected as one of the most significant region.

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Key Benefits For Stakeholders

  • This study includes the network slicing market analysis, trends, and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and network slicing market opportunity.
  • The network slicing market size is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in network slicing market.

Key Market Segments

By Component    

  • Solution
  • Services

By End User

  • Telecom Operators
  • Enterprises

By Industry Vertical

  • Manufacturing
  • Healthcare
  • Automotive
  • Media & Entertainment
  • Transport & Logistic
  • BFSI
  • Government
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe 
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific 
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America 
    • Middle East
    • Africa

Key Market Players

  • Affirmed Networks Inc.
  • Argela Technologies
  • Cisco Systems Inc.
  • Hewlett Packard Enterprise
  • Huawei Technologies Co., Ltd.
  • Mavenir
  • Nokia 
  • Samsung
  • Telefonaktiebolaget LM Ericsson
  • ZTE
 

CHAPTER 1:INTRODUCTION

1.1.REPORT DESCRIPTION
1.2.KEY MARKET SEGMENTS
1.3.KEY BENEFITS
1.4.RESEARCH METHODOLOGY

1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.CXO PERSPECTIVE

CHAPTER 3:MARKET LANDSCAPE

3.1.MARKET DEFINITION AND SCOPE
3.2.KEY FINDINGS

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.PORTER'S FIVE FORCES ANALYSIS

3.3.1.Bargaining power of suppliers
3.3.2.Threat of new entrants
3.3.3.Threat of substitutes
3.3.4.Competitive rivalry
3.3.5.Bargaining power among buyers

3.4.MARKET SHARE ANALYSIS/TOP PLAYER POSITIONING 2019
3.5.MARKET DYNAMICS

3.5.1.Drivers
3.5.2.Restraints
3.5.3.Opportunities

3.6.IMPACT OF KEY REGULATION
3.7.COVID-19 IMPACT ANALYSIS 

3.7.1.Impact on market size
3.7.2.Consumer trends, preferences, and budget impact
3.7.3.Regulatory framework
3.7.4.Economic impact
3.7.5.Key player strategies to tackle negative impact
3.7.6.Opportunity window

CHAPTER 4: NETWORK SLICING MARKET BY COMPONENT

4.1.OVERVIEW
4.2.SOLUTION

4.2.1.Key market trends, growth factors and opportunities
4.2.2.Market size and forecast, by region 
4.2.3.Market share analysis, by country

4.3.SERVICES

4.3.1.Key market trends, growth factors and opportunities
4.3.2.Market size and forecast, by region 
4.3.3.Market share analysis, by country

CHAPTER 5: NETWORK SLICING MARKET BY END USER

5.1.OVERVIEW
5.2.TELECOM OPERATORS 

5.2.1.Key market trends, growth factors and opportunities
5.2.2.Market size and forecast, by region 
5.2.3.Market share analysis, by country

5.3.ENTERPRISES

5.3.1.Key market trends, growth factors and opportunities
5.3.2.Market size and forecast, by region 
5.3.3.Market share analysis, by country

CHAPTER 6: NETWORK SLICING MARKET BY INDUSTRY VERTICAL

6.1.OVERVIEW
6.2.MANUFACTURING

6.2.1.Key market trends, growth factors and opportunities
6.2.2.Market size and forecast, by region 
6.2.3.Market share analysis, by country

6.3.HEALTHCARE

6.3.1.Key market trends, growth factors and opportunities
6.3.2.Market size and forecast, by region 
6.3.3.Market share analysis, by country

6.4.AUTOMOTIVE

6.4.1.Key market trends, growth factors and opportunities
6.4.2.Market size and forecast, by region 
6.4.3.Market share analysis, by country

6.5.MEDIA AND ENTERTAINMENT

6.5.1.Key market trends, growth factors and opportunities
6.5.2.Market size and forecast, by region 
6.5.3.Market share analysis, by country

6.6.TRANSPORT AND LOGISTIC

6.6.1.Key market trends, growth factors and opportunities
6.6.2.Market size and forecast, by region 
6.6.3.Market share analysis, by country

6.7.BFSI

6.7.1.Key market trends, growth factors and opportunities
6.7.2.Market size and forecast, by region 
6.7.3.Market share analysis, by country

6.8.GOVERNMENT

6.8.1.Key market trends, growth factors and opportunities
6.8.2.Market size and forecast, by region 
6.8.3.Market share analysis, by country

6.9.OTHERS

6.9.1.Key market trends, growth factors and opportunities
6.9.2.Market size and forecast, by region 
6.9.3.Market share analysis, by country

CHAPTER 7:NETWORK SLICING MARKET BY REGION

7.1.OVERVIEW
7.2.NORTH AMERICA

7.2.1.Key market trends and opportunities
7.2.2.Market size and forecast, by component
7.2.3.Market size and forecast, by end user
7.2.4.Market size and forecast, by industry vertical
7.2.5.Market size and forecast, by Country
7.2.6.U.S.

7.2.6.1.Market size and forecast, by component
7.2.6.2.Market size and forecast, by end user
7.2.6.3.Market size and forecast, by industry vertical

7.2.7.Canada

7.2.7.1.Market size and forecast, by component
7.2.7.2.Market size and forecast, by end user
7.2.7.3.Market size and forecast, by industry vertical

7.3.EUROPE

7.3.1.Key market trends and opportunities
7.3.2.Market size and forecast, by component
7.3.3.Market size and forecast, by end user
7.3.4.Market size and forecast, by industry vertical
7.3.5.Market size and forecast, by Country
7.3.6.UK

7.3.6.1.Market size and forecast, by component
7.3.6.2.Market size and forecast, by end user
7.3.6.3.Market size and forecast, by industry vertical

7.3.7.Germany

7.3.7.1.Market size and forecast, by component
7.3.7.2.Market size and forecast, by end user
7.3.7.3.Market size and forecast, by industry vertical

7.3.8.France

7.3.8.1.Market size and forecast, by component
7.3.8.2.Market size and forecast, by end user
7.3.8.3.Market size and forecast, by industry vertical

7.3.9.Rest of Europe

7.3.9.1.Market size and forecast, by component
7.3.9.2.Market size and forecast, by end user
7.3.9.3.Market size and forecast, by industry vertical

7.4.ASIA-PACIFIC

7.4.1.Key market trends and opportunities
7.4.2.Market size and forecast, by component
7.4.3.Market size and forecast, by end user
7.4.4.Market size and forecast, by industry vertical
7.4.5.Market size and forecast, by Country
7.4.6.China

7.4.6.1.Market size and forecast, by component
7.4.6.2.Market size and forecast, by end user
7.4.6.3.Market size and forecast, by industry vertical

7.4.7.India

7.4.7.1.Market size and forecast, by component
7.4.7.2.Market size and forecast, by end user
7.4.7.3.Market size and forecast, by industry vertical

7.4.8.Japan

7.4.8.1.Market size and forecast, by component
7.4.8.2.Market size and forecast, by end user
7.4.8.3.Market size and forecast, by industry vertical

7.4.9.Rest of Asia-Pacific

7.4.9.1.Market size and forecast, by component
7.4.9.2.Market size and forecast, by end user
7.4.9.3.Market size and forecast, by industry vertical

7.5.LAMEA

7.5.1.Key market trends and opportunities
7.5.2.Market size and forecast, by component
7.5.3.Market size and forecast, by end user
7.5.4.Market size and forecast, by industry vertical
7.5.5.Market size and forecast, by Country
7.5.6.Latin America

7.5.6.1.Market size and forecast, by component
7.5.6.2.Market size and forecast, by end user
7.5.6.3.Market size and forecast, by industry vertical

7.5.7.Middle East

7.5.7.1.Market size and forecast, by component
7.5.7.2.Market size and forecast, by end user
7.5.7.3.Market size and forecast, by industry vertical

7.5.8.Africa

7.5.8.1.Market size and forecast, by component
7.5.8.2.Market size and forecast, by end user
7.5.8.3.Market size and forecast, by industry vertical

CHAPTER 8: COMPANY PROFILES

8.1.AFFIRMED NETWORKS INC.

8.1.1.Company overview
8.1.2.Key Executives
8.1.3.Company snapshot
8.1.4.Operating business segments
8.1.5.Product portfolio
8.1.6.Business performance
8.1.7.Key strategic moves and developments

8.2.ARGELA TECHNOLOGIES

8.2.1.Company overview
8.2.2.Key Executives
8.2.3.Company snapshot
8.2.4.Operating business segments
8.2.5.Product portfolio
8.2.6.Business performance
8.2.7.Key strategic moves and developments

8.3.CISCO SYSTEMS INC.

8.3.1.Company overview
8.3.2.Key Executives
8.3.3.Company snapshot
8.3.4.Operating business segments
8.3.5.Product portfolio
8.3.6.Business performance
8.3.7.Key strategic moves and developments

8.4.HEWLETT PACKARD ENTERPRISE

8.4.1.Company overview
8.4.2.Key Executives
8.4.3.Company snapshot
8.4.4.Operating business segments
8.4.5.Product portfolio
8.4.6.Business performance
8.4.7.Key strategic moves and developments

8.5.HUAWEI TECHNOLOGIES CO., LTD.

8.5.1.Company overview
8.5.2.Key Executives
8.5.3.Company snapshot
8.5.4.Operating business segments
8.5.5.Product portfolio
8.5.6.Business performance
8.5.7.Key strategic moves and developments

8.6.MAVENIR

8.6.1.Company overview
8.6.2.Key Executives
8.6.3.Company snapshot
8.6.4.Operating business segments
8.6.5.Product portfolio
8.6.6.Business performance
8.6.7.Key strategic moves and developments

8.7.NOKIA 

8.7.1.Company overview
8.7.2.Key Executives
8.7.3.Company snapshot
8.7.4.Operating business segments
8.7.5.Product portfolio
8.7.6.Business performance
8.7.7.Key strategic moves and developments

8.8.SAMSUNG

8.8.1.Company overview
8.8.2.Key Executives
8.8.3.Company snapshot
8.8.4.Operating business segments
8.8.5.Product portfolio
8.8.6.Business performance
8.8.7.Key strategic moves and developments

8.9.TELEFONAKTIEBOLAGET LM ERICSSON

8.9.1.Company overview
8.9.2.Key Executives
8.9.3.Company snapshot
8.9.4.Operating business segments
8.9.5.Product portfolio
8.9.6.Business performance
8.9.7.Key strategic moves and developments

8.10.ZTE

8.10.1.Company overview
8.10.2.Key Executives
8.10.3.Company snapshot
8.10.4.Operating business segments
8.10.5.Product portfolio
8.10.6.Business performance
8.10.7.Key strategic moves and developments

LIST OF TABLES

TABLE 1.GLOBAL NETWORK SLICING MARKET, BY COMPONENT 2019-2027 ($MILLION)
TABLE 2.NETWORK SLICING MARKET FOR SOLUTION, BY REGION,  2019-2027 ($MILLION)
TABLE 3.NETWORK SLICING MARKET FOR SERVICES, BY REGION,  2019-2027 ($MILLION)
TABLE 4.GLOBAL NETWORK SLICING MARKET, BY END USER 2019-2027 ($MILLION)
TABLE 5.NETWORK SLICING MARKET FOR TELECOM OPERATORS , BY REGION,  2019-2027 ($MILLION)
TABLE 6.NETWORK SLICING MARKET FOR ENTERPRISES, BY REGION,  2019-2027 ($MILLION)
TABLE 7.GLOBAL NETWORK SLICING MARKET, BY INDUSTRY VERTICAL 2019-2027 ($MILLION)
TABLE 8.NETWORK SLICING MARKET FOR MANUFACTURING, BY REGION,  2019-2027 ($MILLION)
TABLE 9.NETWORK SLICING MARKET FOR HEALTHCARE, BY REGION,  2019-2027 ($MILLION)
TABLE 10.NETWORK SLICING MARKET FOR AUTOMOTIVE, BY REGION,  2019-2027 ($MILLION)
TABLE 11.NETWORK SLICING MARKET FOR MEDIA AND ENTERTAINMENT, BY REGION,  2019-2027 ($MILLION)
TABLE 12.NETWORK SLICING MARKET FOR TRANSPORT AND LOGISTIC, BY REGION,  2019-2027 ($MILLION)
TABLE 13.NETWORK SLICING MARKET FOR BFSI, BY REGION,  2019-2027 ($MILLION)
TABLE 14.NETWORK SLICING MARKET FOR GOVERNMENT, BY REGION,  2019-2027 ($MILLION)
TABLE 15.NETWORK SLICING MARKET FOR OTHERS, BY REGION,  2019-2027 ($MILLION)
TABLE 16.NETWORK SLICING MARKET FOR , BY REGION, , 2019-2027 ($MILLION)
TABLE 17.NORTH AMERICA NETWORK SLICING, BY COMPONENT 2019-2027 ($MILLION)
TABLE 18.NORTH AMERICA NETWORK SLICING, BY END USER 2019-2027 ($MILLION)
TABLE 19.NORTH AMERICA NETWORK SLICING, BY INDUSTRY VERTICAL 2019-2027 ($MILLION)
TABLE 20.NORTH AMERICA NETWORK SLICING, BY REGION,  2019-2027 ($MILLION)
TABLE 21.EUROPE NETWORK SLICING, BY COMPONENT 2019-2027 ($MILLION)
TABLE 22.EUROPE NETWORK SLICING, BY END USER 2019-2027 ($MILLION)
TABLE 23.EUROPE NETWORK SLICING, BY INDUSTRY VERTICAL 2019-2027 ($MILLION)
TABLE 24.EUROPE NETWORK SLICING, BY REGION,  2019-2027 ($MILLION)
TABLE 25.ASIA-PACIFIC NETWORK SLICING, BY COMPONENT 2019-2027 ($MILLION)
TABLE 26.ASIA-PACIFIC NETWORK SLICING, BY END USER 2019-2027 ($MILLION)
TABLE 27.ASIA-PACIFIC NETWORK SLICING, BY INDUSTRY VERTICAL 2019-2027 ($MILLION)
TABLE 28.ASIA-PACIFIC NETWORK SLICING, BY REGION,  2019-2027 ($MILLION)
TABLE 29.LAMEA NETWORK SLICING, BY COMPONENT 2019-2027 ($MILLION)
TABLE 30.LAMEA NETWORK SLICING, BY END USER 2019-2027 ($MILLION)
TABLE 31.LAMEA NETWORK SLICING, BY INDUSTRY VERTICAL 2019-2027 ($MILLION)
TABLE 32.LAMEA NETWORK SLICING, BY REGION,  2019-2027 ($MILLION)
TABLE 33.AFFIRMED NETWORKS INC.: COMPANY SNAPSHOT
TABLE 34.AFFIRMED NETWORKS INC.: OPERATING SEGMENTS
TABLE 35.ARGELA TECHNOLOGIES: COMPANY SNAPSHOT
TABLE 36.ARGELA TECHNOLOGIES: OPERATING SEGMENTS
TABLE 37.CISCO SYSTEMS INC.: COMPANY SNAPSHOT
TABLE 38.CISCO SYSTEMS INC.: OPERATING SEGMENTS
TABLE 39.HEWLETT PACKARD ENTERPRISE: COMPANY SNAPSHOT
TABLE 40.HEWLETT PACKARD ENTERPRISE: OPERATING SEGMENTS
TABLE 41.HUAWEI TECHNOLOGIES CO., LTD.: COMPANY SNAPSHOT
TABLE 42.HUAWEI TECHNOLOGIES CO., LTD.: OPERATING SEGMENTS
TABLE 43.MAVENIR: COMPANY SNAPSHOT
TABLE 44.MAVENIR: OPERATING SEGMENTS
TABLE 45.NOKIA : COMPANY SNAPSHOT
TABLE 46.NOKIA : OPERATING SEGMENTS
TABLE 47.SAMSUNG: COMPANY SNAPSHOT
TABLE 48.SAMSUNG: OPERATING SEGMENTS
TABLE 49.TELEFONAKTIEBOLAGET LM ERICSSON: COMPANY SNAPSHOT
TABLE 50.TELEFONAKTIEBOLAGET LM ERICSSON: OPERATING SEGMENTS
TABLE 51.ZTE: COMPANY SNAPSHOT
TABLE 52.ZTE: OPERATING SEGMENTS

LIST OF FIGURES

FIGURE 1.GLOBAL NETWORK SLICING MARKET SEGMENTATION
FIGURE 2.TOP INVESTMENT POCKET
FIGURE 3.TOP WINNING STRATEGIES (%)
FIGURE 4.NETWORK SLICING MARKET FOR SOLUTION, 2019-2027 ($MILLION)
FIGURE 5.NETWORK SLICING MARKET FOR SERVICES, 2019-2027 ($MILLION)
FIGURE 6.NETWORK SLICING MARKET FOR TELECOM OPERATORS , 2019-2027 ($MILLION)
FIGURE 7.NETWORK SLICING MARKET FOR ENTERPRISES, 2019-2027 ($MILLION)
FIGURE 8.NETWORK SLICING MARKET FOR MANUFACTURING, 2019-2027 ($MILLION)
FIGURE 9.NETWORK SLICING MARKET FOR HEALTHCARE, 2019-2027 ($MILLION)
FIGURE 10.NETWORK SLICING MARKET FOR AUTOMOTIVE, 2019-2027 ($MILLION)
FIGURE 11.NETWORK SLICING MARKET FOR MEDIA AND ENTERTAINMENT, 2019-2027 ($MILLION)
FIGURE 12.NETWORK SLICING MARKET FOR TRANSPORT AND LOGISTIC, 2019-2027 ($MILLION)
FIGURE 13.NETWORK SLICING MARKET FOR BFSI, 2019-2027 ($MILLION)
FIGURE 14.NETWORK SLICING MARKET FOR GOVERNMENT, 2019-2027 ($MILLION)
FIGURE 15.NETWORK SLICING MARKET FOR OTHERS, 2019-2027 ($MILLION)
FIGURE 16.GLOBAL NETWORK SLICING, BY REGION,  2019 (%)
FIGURE 17.U.S. NETWORK SLICING MARKET, 2019-2027 ($MILLION)
FIGURE 18.CANADA NETWORK SLICING MARKET, 2019-2027 ($MILLION)
FIGURE 19.UK NETWORK SLICING MARKET, 2019-2027 ($MILLION)
FIGURE 20.GERMANY NETWORK SLICING MARKET, 2019-2027 ($MILLION)
FIGURE 21.FRANCE NETWORK SLICING MARKET, 2019-2027 ($MILLION)
FIGURE 22.REST OF EUROPE NETWORK SLICING MARKET, 2019-2027 ($MILLION)
FIGURE 23.CHINA NETWORK SLICING MARKET, 2019-2027 ($MILLION)
FIGURE 24.INDIA NETWORK SLICING MARKET, 2019-2027 ($MILLION)
FIGURE 25.JAPAN NETWORK SLICING MARKET, 2019-2027 ($MILLION)
FIGURE 26.REST OF ASIA-PACIFIC NETWORK SLICING MARKET, 2019-2027 ($MILLION)
FIGURE 27.LATIN AMERICA NETWORK SLICING MARKET, 2019-2027 ($MILLION)
FIGURE 28.MIDDLE EAST NETWORK SLICING MARKET, 2019-2027 ($MILLION)
FIGURE 29.AFRICA NETWORK SLICING MARKET, 2019-2027 ($MILLION)

 
 

According to the CXOs of leading companies, the network slicing market is going through enormous transformation and growth. Network slicing has become the network operators’ answer to build as well as manage a network to meet emerging requirements from a wide range of enterprises. In recent times, the market has experienced an exponential growth as the network slicing has provided an opportunity for service providers to offer distinguished slice-based services on a per-use-case basis as well as it has provided enterprises with slice-level control and the essential mechanisms to self-provision connectivity. In addition, there has been an increase in adoption of network slicing owing to rise in deployment of 5G, as the communication service providers (CSPs) are looking to use network slicing to sell value-added digital services.

In addition, with 5G and network slicing, service providers are offering new services such as augmented reality (AR), virtual reality (VR), and cloud gaming with guaranteed performance to the enterprise, by opening access to potential new sources of revenue. For instance, A joint study published in September 2017 and conducted by BT, a British multinational telecommunications holding company and Ericsson found that using  operational automation and network slicing, the introduction of new IoT services generated 35% more revenue over five years than a single multi-service network. In addition, it also resulted in a reduction of operational expenses of 40 % and an increase in the overall economic benefit of 150%.

Moreover, the COVID-19 pandemic has significantly pushed the growth rate of the network slicing market owing to increasing demands for broadband services with the help of growing mobile networking and remote access services in several industries such as retail, telecom, IT, and healthcare. Furthermore, deployment of wireless networking services in the upcoming years is anticipated to positively impact the network slicing market growth.

The CXOs further added that the network slicing market is competitive and comprises number of regional and global vendors competing based on factors such as cost of solutions, reliability, and support services. The growth of the market is impacted by rapid advances in the network technologies offerings, whereas the vendor performance is impacted by COVID-19 conditions and industry development. Owing to the competition, vendors operating in the market are offering advanced network visualization technology products and services to improve the network infrastructure, driving the market growth. In addition, the key players in the market are actively introducing innovative network slicing products to enhance their market presence. For instance, in October 2020, Nokia introduced a 4G and 5G automation network slicing solution suitable for vendors seeking to cut the costs related with increasing networking capacity.
 

 
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