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This research study outlines the market potential, market dynamics, and major vendors operating in the network slicing market. Key and innovative vendors in the network-slicing market are Nokia (Finland), Ericsson (Sweden), and Huawei (China).
The global network slicing market size is projected to grow from USD 161 million in 2022 to USD 1,284 million by 2031, 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
Services segment is 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
Telecom operators segment to grow at the highest CAGR during the forecast period
Telecom operators across the globe are now rapidly deploying 5G to meet the needs of consumers. Network slicing consents telecom operators to not only support numerous new 5G applications and use case. It also enables the optimum use of their 5G infrastructure to minimize CAPEX. Slicing enables the resources to be allocated to a slice, depending on when and where required, to meet its specific QoS or SLA requirement. When a slice is no longer required or performance issues in a slice have been resolved, the associated resources can then be released to inventory for reuse
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Asia Pacific (APAC) region to record the highest growing region in the Network Slicing market
APAC has several growing economies, such as China, India, and Japan, which are expected to register high growth in the network slicing market. These countries have always supported and promoted industrial and technological growth. In addition, they possess a developed technological infrastructure, which is promoting the adoption of network slicing solutions across all industry verticals. The network market in APAC is driven by the growing acceptance of cloud-based solutions, emerging technologies such as the IoT, and big data analytics and mobility. APAC is one of the biggest markets for connected devices
By Company Type: Tier 1 – 35%, Tier 2 – 39%, and Tier 3 – 26%
By Designation: C-level – 55%, Directors – 40%, and Others – 5%
By Region: North America – 38%, Europe – 40%, APAC – 21%, and Rest of the World (RoW)– 1%
This research study outlines the market potential, market dynamics, and major vendors operating in the network slicing market. Key and innovative vendors in the network slicing market are 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).
The market study covers the network slicing market across different segments. It aims at estimating the market size and the growth potential of this market across different segments based on components, services, applications, end users, application, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
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Key benefits of buying the report
The report is expected to help the market leaders/new entrants in this market by providing them with information on the closest approximations of the revenue numbers for the overall network-slicing market and its segments. This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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