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Network Slicing Market Size – USD 261.2 Million in 2021, Market Growth – at a CAGR of 24.9%.
NEW YORK, NY, UNITED STATES, June 20, 2022 /EINPresswire.com / -- Significant growth in mobile data traffic volumes is the key factor driving market revenue growth
Market Trend – Emerging business application throughout industrial, commercial, and government sector
The global network slicing market size is expected to reach USD 1,909.5 Million in 2030 and register a revenue CAGR of 24.9% over the forecast period, according to latest report by Reports and Data. Rapid surge in mobile data traffic volumes is key factor expected to drive market revenue growth during the forecast period.
Industry 4.0, automation, and digitalization have all significantly impacted adoption of mission-critical business applications across all sectors. Most industries have experienced digital transformations to meet increased need for operational agility from customers and enterprises. Businesses urgently want a solid network to support their digital transformation journey. Technological breakthroughs and developing ecosystem have paved path for introducing new commercial applications in a variety of industries. Network slicing is one of the essential technologies for offering tailored, dedicated, and logically isolated network services based on diverse needs of distinct vertical industries.
The network slicing market business is expecting expansion, due to rise in adoption of network slicing in solving issues presented by mobile data traffic. Increasing mobile data traffic, Internet customers, and government assistance are expected to drive network slicing market during the forecast period. In addition, strategic partnership and expansion among market players are also expected to drive market expansion.
Network slicing is a major paradigm in 5G and is expected to be carried over to future 6G networks for continuous delivery of various quality of service. However, effective Radio Access Network (RAN) slicing is challenging to scale up due to time-varying network situations and it eventually runs into a physical constraint due to restricted spectrum availability. This limitation is expected to hamper revenue growth of the global market to some extent.
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Some Key Highlights from the Report
•Software-defined networking segment is expected to expand at a steady CAGR over the forecast period due to its ability to modify networking architecture by providing a flexible solution to manage and control large networks through data traffic management and efficient resources
•Supply chain management segment revenue is expected to lead the market during forecast period due to increased demand for ultra-low latency and increasing requirements for real-time automation, smart surveillance, remote operations, and autonomous robots
•North America network slicing market is expected to account for largest revenue share in the global market over forecast period. Presence of major network slicing service providers is one of the main factors for growth of the North American network slicing market. In addition, rapid industrialization in countries, such as the U.S. and Canada, has always been a crucial factor in growth of this market in North America.
•Major companies in the global market report include Telefonaktiebolaget LM Ericsson SE, Nokia Corporation, ZTE Corporation, Cisco Systems, Inc., Huawei Technologies Co., Ltd., Mavenir Systems, Inc., Samsung Electronics Co., Ltd., Amdocs, Inc., Argela Technologies, Hewlett Packard Enterprise, Parallel Wireless, Inc. and Affirmed Networks, Inc.
•In February 2022, Amdocs, a global leader of software and services to communications and media industries, announced collaboration with Vodacom Group, Africa's premier connectivity, digital, and financial services firm, to establish an African Centre of Excellence (COE). The COE will allow Vodacom to provide next-generation experiences to its customers in Mozambique, Tanzania, and the Democratic Republic of the Congo.
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For this report, Reports and Data has segmented the global network slicing market based on implementation, service type, type, industry vertical, application, and region:
Component Type Outlook (Revenue, USD Million; 2019–2030)
•Solutions
•Services
Type Outlook (Revenue, USD Million; 2019–2030)
•Vertical
•Horizontal
Application Outlook (Revenue, USD Million; 2019–2030)
•Remote Monitoring
•Real-Time Surveillance
•Supply Chain Management
•Asset Management
•Others
End-use Outlook (Revenue, USD Million; 2019–2030)
•BFSI (Banking, Financial Services and Insurance)
•Government and Public Sector
•Healthcare
•Transportation
•Others
Regional Outlook (Revenue, USD Million; 2019–2030)
•North America
•Europe
•Asia-Pacific
•Latin America
•Middle East & Africa
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