The report "Network Slicing Market by Component (Solution and Services (Professional and Managed)), End User (Telecom Operators and Enterprises), Application (Manufacturing, Government, Automotive, Media and Entertainment), and Region - Global Forecast to 2025 ", global network slicing market size is projected to grow from USD 161 million in 2020 to USD 1,284 million by 2025, at a Compound Annual Growth Rate (CAGR) of 51.5% during the forecast period. The network slicing market is gaining traction due to the evolution of cellular network technology, which has offered higher data speeds and lower latency. The rapid rise in the volume of data being carried by cellular networks has been driven largely by consumer demand for video and the shift of business toward the use of cloud services.
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Services segment to grow at the highest CAGR
during the forecast period
Services play a vital role
in the deployment and integration of next-generation networking solutions in an
enterprise’s business environment. Services are considered an important
component of the network slicing market, as they majorly focus on improving the
business processes and optimizing the enterprise’s network. Services are
considered as the backbone of network slicing, as they are instrumental in
fulfilling the clients’ requirements, such as network testing, planning and
optimization, support and maintenance, and consulting
Automotive segment to grow at the highest
CAGR during the forecast period
The automotive industry also makes use
of the 5G technology to boost the productivity, enhance the efficiency,
increase drive the brand loyalty, and offer autonomous and cooperative vehicles
with significantly improved security standards and multimodal transportation
solutions. The introduction of next-generation technologies, such as 5G gave
birth to numerous applications, such as AR, virtual realityVR, and tactile
internet.
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North
America region to record the highest market share in the network slicing market in 2020
North
America is one of the most technologically advanced regions in the world.
Consumers based in this region have readily adopted 4G-enabled smartphones that
make the region as one of the established and most advanced mobile regions in
the world. According to the Ericsson Mobility Report published in 2017, North
America records the largest use of smartphones, and traffic per smartphone is
expected to increase from 7.1GB per month by the end of 2017 to 48GB by the end
of 2023. The increasing number of internet subscribers, expanding mobile data
traffic, and growing government emphasis on enhancing telecommunications
infrastructure to meet the users’ demand for seamless connectivity would drive
the market to a great extent in the region. Further, the region is expected to
be the early adopter of 5G services in areas such as AR/VR, autonomous driving,
and AI owing to the high customer digital engagement.
Key
and innovative vendors in the network slicing market include Nokia (Finland),
Ericsson (Sweden), Huawei (China), ZTE (China), Samsung (South Korea), Blue
Planet (US), Parallel Wireless (US), Affirmed Networks (US), Mavenir (US),
Argela (Turkey), Cisco (US), HPE (US), Tambora Systems (Singapore), AMDOCS (US)
and Aria Networks (UK)
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