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The Network Slicing business sector has seen critical development lately, impelled by the steadily expanding interest for rapid and solid correspondence administrations. The idea of Network Slicing, which enables the creation of multiple virtual networks on a shared physical infrastructure, has gained prominence as technology continues to advance. This imaginative methodology empowers network administrators to take care of different prerequisites and use cases, going from huge Web of Things (IoT) organizations to super low dormancy applications like independent vehicles and expanded reality.
One of the key market patterns driving the reception of Organization Cutting is the rising arrangement of 5G organizations. With 5G innovation turning out to be more broad, the requirement for productive organization the executives and customization has become significant. Network Cutting tends to this interest by permitting administrators to allot assets powerfully founded on the particular necessities of various administrations and applications. This adaptability is especially imperative in enhancing the utilization of organization assets and guaranteeing a consistent client experience across different use cases.
Besides, the expansion of IoT gadgets across ventures has energized the interest for Organization Cutting arrangements. These arrangements empower the production of committed network cuts for various IoT applications, guaranteeing solid availability and proficient information move. Businesses like medical care, assembling, and savvy urban areas benefit from the capacity to alter network boundaries to meet the interesting prerequisites of their applications, prompting worked on functional productivity and improved generally execution.
One more eminent pattern in the Organization Cutting business sector is the attention on giving start to finish cutting arrangements. Merchants and specialist organizations are progressively offering complete arrangements that cover the whole organization cutting lifecycle, from creation and coordination to observing and advancement. This approach works on the execution of organization cutting for administrators, decreasing intricacy and speeding up chance to-showcase for new administrations.
Besides, the reconciliation of computerized reasoning (artificial intelligence) and AI (ML) advancements into Organization Cutting arrangements is getting forward momentum. These cutting edge innovations empower wise robotization of organization the executives undertakings, like asset portion and streamlining. By utilizing simulated intelligence and ML calculations, administrators can upgrade the proficiency of their organizations, anticipate possible issues, and proactively address them, at last working on the general nature of administration.
The Network Slicing business sector is additionally seeing expanded cooperation among industry players. Associations and unions between network hardware suppliers, programming designers, and telecom administrators are turning out to be more normal. These coordinated efforts mean to make normalized approaches and interoperable arrangements, encouraging a more consistent execution of Organization Cutting across various organizations and biological systems.
Network Slicing Market Highlights:
Network Slicing Market Snapshot
The network slicing market size is projected to grow from USD 105.74 million in 2019 to USD 0.98 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6.03% during the forecast period.
Network slicing technology supports multiple logical networks for different services type over one common network infrastructure. The evolution of 5G technology is expected to be one of the key drivers for the network slicing market. As 5G technology scales, network slicing is going to be one of the major 5G deployment models. Service providers are looking to maximize their RoI by targeting innovative and high revenue-generating network slicing applications such as cloud gaming, smart healthcare, and IoT applications. Network slicing among 5G networks will permit business customers to attain high connectivity and data processing speeds tailored to their specific requirements. Network slicing is considered to be the most integrated solution for unlocking opportunities among enterprises in the 5G era.
A network slice is an end-to-end logical network that runs on shared physical infrastructure, capable of providing high service quality. A network slice comprises a dedicated server and shared resources in terms of processing power, storage and bandwidth and has isolation from other network slices.
The major factors driving the growth of the network slicing market includethe advancements in the 5G technology, increasing demand for high-speed network coverage across various market segments and the integration of software-defined networking (SDN) and network function virtualization (NFV). The ability to improve operational efficiencies and time to market for delivering 5G networks across different verticals and reduce expenses & capital expenditure among network operators provide opportunities in the network slicing market. However, the security breaches while allowing resource sharing among multiple networks and proper optimization of resource usage in a network slice arefactors hindering the market growth.
Impact of COVID-19
The COVID-19 pandemic has caused widespread concern and economic hardships for consumers, businesses, and communities worldwide. The outbreak has significantly pushed demand for broadband services with high-speed connectivity as people across the globe are coping with remote working and online education. As the pandemic restrictions are easing and several economies around the world are coming out of an extensive lockdown period, businesses around the globe have started to reopen, and communication service providers have shifted their focus to a faster 5G network rollout and have accelerated investments in network slicing solutions. The use cases post covid-19 such as remote office, e-health services, remote education are expected to further boost the network slicing market growth.
Market Segmentation
The global network slicing market has been segmented based on component, end user, application, and region.
Based on component, the network slicing market has been segmented into solution and services. The services segment has been further subdivided into professional services & managed services.
Based on end user, the network slicing market has been segmented into telecom operators and enterprises.
Based on application, the network slicing market has been segmented into manufacturing, healthcare, government, automotive, media & entertainment, and others.
Regional Analysis
In terms of region, the network slicing market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
North America is likely to be the dominant regional market due to the faster adoption of innovative technologies in developed countries in the region—the US and Canada. The region is one of the most technologically advanced regions with the strong presence of key industry players such as CISCO Systems, Affirmed Networks, Parallel Wireless, Mavenir and AMDOCS. Furthermore, the region is expected to become the early adopters of 5G network services in various areas such as media & entertainment, automotive, and AR/VR owing to high customer digital engagement.
Asia-Pacific is projected to register the fastest growth rate over the forecast period, with the regional market being segmented into China, Japan, India, and the rest of Asia-Pacific. This share can be attributed to the increasing developments of network infrastructure, IoT technologies and 5G technology. Furthermore, the increasing government and investments into network slicing technology in the region are likely to drive the growth of the regional market.
Companies Covered
The key players of the global network slicing market are Huawei Technologies (China), ZTE Corporation (China), Ericsson (Sweden), Affirmed Networks (US), CISCO Systems (US), Nokia (Finland), Samsung (South Korea), NTT Docomo (Japan), BT Group PLC (UK), NEC Corporation (Japan), Aria Networks (UK), Parallel Wireless (US), Mavenir (US), AMDOCS (US), and Argela Technologies (Turkey).
Industry Developments
On Apr. 06, 2023, WiMi Hologram Cloud Inc., a leading global provider of Hologram Augmented Reality, announced the development of a new network slicing management system at the RAN (radio access network) side centered on artificial intelligence. WiMi develops an AI-enabled RAN-side network slicing management system for smart decision-making. The system uses network function virtualization (NFV) technology to instantiate multiple virtual networks on the same physical network infrastructure.
On Mar. 29, 2023, Nokia announced its plan to deploy transport network slicing for DoCoMo's 5G network. Docomo has deployed Nokia's 7750 SR-14s core routers to enhance its nationwide IP core and enable transport network slicing as it initiates new 5G mobile services. To deliver the network slicing for its innovative mobile services, DoCoMo will leverage the segment routing capabilities of Nokia's Service Router Operating System (SR OS) for traffic-engineered network slices for the granular SLAs required by DoCoMo's customers.
On Feb. 07, 2023, Ericsson, Far EasTone Telecommunications, and Taiwanese TV and multimedia company TVBS announced a collaboration to run 5G network slicing for marathon broadcasts in Taiwan. To ensure a significant viewing experience of the competition, companies used 5G network slicing to transmit live streaming data of the 21st New Taipei City Wan Jin Shi Marathon. Far EasTone uses network-slicing technology in the crime-fighting realm for a 5G smart patrol police car. Â
On Jan.20, 2023, Samsung Electronics and KDDI announced that they have combined their technical expertise to demonstrate network slicing with RIC on a live 5G SA network. The successful demonstration of SLA (Service Level Agreements) ensures network slicing in a field trial conducted in Tokyo, Japan. The companies proved their capabilities to generate multiple network slices using a RAN Intelligent Controller (RIC) on a live commercial 5G Standalone (SA) network.Â
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