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The Network Slicing Market is expected to reach $893.1 million by 2027, at a CAGR of 15.2% during the forecast period, 2020 to 2027. Growing mobile data traffic volumes, the virtualization of networks, rising demand for commercialization of 5G networks, IoT deployments, the growing demand for agile networks, and increasing demand for broadband services over mobile networks are the key factors driving the growth of the network slicing market. However, factors such as growing network security risks in network slicing and the economic downturn caused due to the COVID-19 pandemic have posed serious challenges to the growth of the network slicing market.
The Impact of COVID-19 on the Network Slicing Market
The COVID-19 pandemic has adversely hit many economies around the globe. Combat measures such as lockdowns, social distancing, and quarantines to fight COVID-19 have adversely impacted many industries worldwide, including IT & telecommunications. With most employees working from home and students learning virtually, enterprise virtual private network (VPN) servers have become lifelines for organizations/schools. According to UNESCO, 850 million students are now learning and attending classes from home while several million workers have suddenly switched to remote working, creating an enormous change in communication networks’ usage. Network traffic in Europe has increased by approximately 50%, as most people have been confined to their homes.
In March 2020, 3GPP, the global association developing the 5G technology, announced a three-month delay in the timeline for the completion of 5G specifications due to COVID-19. Delayed releases have slowed down the commercial development of network slicing solutions and 5G deployments. Supply chain disruptions and delays in the release of 5G technology have adversely affected the network slicing market in 2020 and are projected to affect in 2021 as well. However, leading market players are focused on bringing the network slicing market back on track. Moreover, local governments are also undertaking several initiatives to mitigate the negative impacts of COVID-19. As a result, the network slicing market is expected to recover by 2024.
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Rising Need for Ultra-low Latency to Fuel Market Growth
The deployment of cutting-edge technologies, such as the IoT, artificial intelligence, and augmented and virtual reality, is rapidly increasing. However, several industries are still not able to utilize the full potential of these technologies, mainly due to high latency issues. In contrast, 5G network slicing offers ultra-low latency to provide an advanced user experience with its fast data transmission features, in turn boosting its demand across mission-critical applications. Hospitals and healthcare providers are now focused on low-latency telemedicine applications that can access real-time data without delays during life-critical situations and remote robotic surgeries. Network slicing will be greatly beneficial for such applications. Similarly, network slicing can help manufacturers scale-up the connected robotic workforce. All these factors are expected to boost the efficiency of industrial IoT devices and connected machines.
Network slicing is expected to improve assisted driving and transport services, including traffic with real-time data alerts. It will improve safety during assisted driving and reduce response time for critical decisions while driving. 5G network slicing allows for ultra-reliable communication with low latency for vehicle-to-vehicle communication in crowded urban areas and high-speed scenarios. Besides, low latency is becoming a game-changer in virtual and augmented reality applications, which is likely to fuel the demand for the network slicing infrastructure.
Key Findings in the Network Slicing Market Study:
The Solutions Segment Dominated the Network Slicing Market in 2020
Based on component, the solutions segment commanded the largest share of the network slicing market in 2020. The rising demand for high-speed and wide network coverage, growing mobile data traffic volumes, increasing need for ultra-low latency, and growing use of network virtualization are the factors driving the growth of this segment. The usability, criticality, and easy deployment of network slicing solutions further support the growth of this segment. Owing to the benefits offered by these solutions, several providers are investing in R&D to make the solutions better and more affordable, even for small and medium-scale enterprises.
The Healthcare Segment Dominated the Market in 2020
Based on end user, the healthcare segment commanded the largest share of the network slicing market in 2020. Rising investments in 5G, the proliferation of wireless medical devices, and the growing adoption of remote healthcare services are the factors driving the growth of the healthcare segment. The growing popularity of telemedicine and remote monitoring in the wake of the COVID-19 pandemic has further highlighted the significance of network slicing, and hence, the segment holds tremendous growth potential for the deployment of network slicing solutions and services in the coming years.
North America: A Significantly Growing Regional Market
In 2020, Asia-Pacific commanded the largest share of the network slicing market, followed by North America, Europe, Latin America, and the Middle East & Africa. The market in North America is expected to witness rapid growth during the forecast period, mainly driven by the increasing adoption of technologies, such as cloud computing, network function virtualization, and IoT. Besides, the rapid proliferation of 5G devices, growing subscriber bases, favorable government policies and regulations, and demand for broadband services across North America are expected to boost market growth considerably over the coming years.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments by the leading market participants in the network slicing industry over the last four years. The key players in the network slicing market are ZTE Corporation (China), Cisco Systems, Inc. (U.S.), Ericsson AB (Sweden), Affirmed Networks, Inc. (U.S.), Mavenir Systems, Inc. (U.S.), Huawei Technologies Co., Ltd (China), Nokia Corporation (Finland), Parallel Wireless, Inc. (U.S.), Amdocs, Inc. (U.S.), and Intel Corporation (U.S.).
Scope of the Report:
Network Slicing Market, by Component
Network Slicing Market, by Application
Network Slicing Market, by End User
Network Slicing Market, by Region
Key Questions Answered in the Report:
1 Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency and Limitations
1.3.1. Currency
1.3.2. Limitations
1.4. Key Stakeholders
2 Research Methodology
2.1. Research Approach
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.2. Bottom-Up Approach
2.3.3. Top-Down Approach
2.3.4. Growth forecast
2.4. Assumptions for the Study
3 Executive Summary
3.1. Market Analysis, by Component
3.2. Market Analysis, by Application
3.3. Market Analysis, by End User
3.4. Market Analysis, by Geography
3.5. Competitive Analysis
4 Market Insights
4.1. Introduction
4.2. Market Dynamics
4.3. Drivers
4.3.1. Emergence of Edge Computing Technology
4.3.2. Need for Ultra-Low Latency
4.3.3. Significant Growth in Mobile Data Traffic Volumes
4.4. Restraints
4.4.1. Security Risks Associated with Network Slicing Infrastructure
4.5. Opportunities
4.5.1. Growing Investment in 5G Network Technology
4.5.2. Rising Adoption of IoT Technology
4.6. Challenges
4.6.1. Misconceptions and Lack of Knowledge Regarding Network Slicing Solutions
4.6.2. Lack of Skilled Workforce
4.7. Trends
4.7.1. Integration of Edge Computing in Network Slicing
4.8. Impact of Covid-19 Pandemic on the Network Slicing Market
5 Network Slicing Market, by Component
5.1. Introduction
5.2. Solutions
5.3. Services
5.3.1. Professional Services
5.3.1.1. Consulting Services
5.3.1.2. System Integration Services
5.3.1.3. Network Planning and Optimization Services
5.3.2. Managed Services
6 Network Slicing Market, by Application
6.1. Introduction
6.2. Supply Chain Management
6.3. Remote Monitoring
6.4. Multimedia
6.5. Network Monitoring
6.6. Real-Time Streaming
6.7. Asset Management
6.8. Other Applications
7 Network Slicing Market, by End User
7.1. Introduction
7.2. Healthcare Sector
7.3. Manufacturing Industry
7.4. Energy & Utility Sector
7.5. Automotive Sector
7.6. Media & Entertainment Industry
7.7. Transportation Sector
7.8. Retail Sector
7.9. BFSI Sector
7.10. Other End Users
8 Network Slicing Market, by Geography
8.1. Introduction
8.2. Asia-Pacific
8.2.1. China
8.2.2. South Korea
8.2.3. Japan
8.2.4. India
8.2.5. Rest of Asia-Pacific (RoAPAC)
8.3. North America
8.3.1. U.S.
8.3.2. Canada
8.4. Europe
8.4.1. Germany
8.4.2. U.K.
8.4.3. France
8.4.4. Spain
8.4.5. Italy
8.4.6. Rest of Europe (RoE)
8.5. Latin America
8.6. Middle East & Africa
9 Competitive Landscape
9.1. Introduction
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
9.4. Market Share Analysis, by Key Player (2020)
10 Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
10.1. Telefonaktiebolaget LM Ericsson SE
10.2. Nokia Corporation
10.3. Cisco Systems, Inc.
10.4. ZTE Corporation
10.5. Huawei Technologies Co., Ltd.
10.6. Affirmed Networks (A Part of Microsoft Corporation)
10.7. Mavenir Systems, Inc.
10.8. Parallel Wireless, Inc.
10.9. Intel Corporation
10.10. Amdocs, Inc.
10.11. Samsung Electronics Co., Ltd.
10.12. Hewlett Packard Enterprise
10.13. Blue Planet (A Division of Ciena Corporation)
10.14. Argela Technologies
11 Appendix
11.1. Questionnaire
11.2. Available Customization
List of Tables
Table 1 Currency Conversion Rate, 2017–2020
Table 2 Impact Assessment of Covid-19 for the Network Slicing Market (USD Million)
Table 3 Global Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 4 Global Network Slicing Market Size, by Country/Region, 2018–2027 (USD Million)
Table 5 Global Network Slicing Solutions Market Size, by Country/Region, 2018–2027 (USD Million)
Table 6 Global Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 7 Global Network Slicing Services Market Size, by Country/Region, 2018–2027 (USD Million)
Table 8 Global Network Slicing Professional Services Market Size, by Type, 2018–2027, (USD Million)
Table 9 Global Network Slicing Professional Services Market Size, by Country/Region, 2018–2027 (USD Million)
Table 10 Global Consulting Services Market Size, by Country/Region, 2018–2027 (USD Million)
Table 11 Global System Integration Services Market Size, by Country/Region, 2018–2027 (USD Million)
Table 12 Global Network Planning and Optimization Services Market Size, by Country/Region, 2018–2027 (USD Million)
Table 13 Global Network Slicing Managed Services Market Size, by Country/Region, 2018–2027 (USD Million)
Table 14 Global Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 15 Global Network Slicing Market Size for Supply Chain Management, by Country/Region, 2018–2027(USD Million)
Table 16 Global Network Slicing Market Size for Remote Monitoring, by Country/Region, 2018–2027(USD Million)
Table 17 Global Network Slicing Market Size for Multimedia, by Country/Region, 2018–2027(USD Million)
Table 18 Global Network Slicing Market Size for Network Monitoring, by Country/Region, 2018–2027(USD Million)
Table 19 Global Network Slicing Market Size for Real-Time Streaming, by Country/Region, 2018–2027(USD Million)
Table 20 Global Network Slicing Market Size for Asset Management, by Country/Region, 2018–2027(USD Million)
Table 21 Global Network Slicing Market Size for Other Applications, by Country/Region, 2018–2027(USD Million)
Table 22 Global Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 23 Global Network Slicing Market Size for the Healthcare Sector, by Country/Region, 2018–2027 (USD Million)
Table 24 Global Network Slicing Market Size for the Manufacturing Industry, by Country/Region, 2018–2027 (USD Million)
Table 25 Global Network Slicing Market Size for the Energy & Utility Sector, by Country/Region, 2018–2027 (USD Million)
Table 26 Global Network Slicing Market Size for the Automotive Industry, by Country/Region, 2018–2027 (USD Million)
Table 27 Global Network Slicing Market Size for the Media & Entertainment Industry, by Country/Region, 2018–2027 (USD Million)
Table 28 Global Network Slicing Market Size for the Transportation Industry, by Country/Region, 2018–2027 (USD Million)
Table 29 Global Network Slicing Market Size for the Retail Industry, by Country/Region, 2018–2027 (USD Million)
Table 30 Global Network Slicing Market Size for the BFSI Industry, by Country/Region, 2018–2027 (USD Million)
Table 31 Global Network Slicing Market Size for Other End Users, by Country/Region, 2018–2027 (USD Million)
Table 32 Global Network Slicing Market Size, by Country/Region, 2018–2027 (USD Million)
Table 33 Asia-Pacific: Network Slicing Market Size, by Country/Region, 2018–2027 (USD Million)
Table 34 Asia-Pacific: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 35 Asia-Pacific: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 36 Asia-Pacific: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 37 Asia-Pacific: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 38 Asia-Pacific: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 39 China: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 40 China: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 41 China: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 42 China: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 43 China: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 44 South Korea: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 45 South Korea: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 46 South Korea: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 47 South Korea: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 48 South Korea: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 49 Japan: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 50 Japan: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 51 Japan: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 52 Japan: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 53 Japan: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 54 India: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 55 India: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 56 India: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 57 India: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 58 India: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 59 Rest of Asia-Pacific: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 60 Rest of Asia-Pacific: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 61 Rest of Asia-Pacific: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 62 Rest of Asia-Pacific: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 63 Rest of Asia-Pacific: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 64 North America: Network Slicing Market Size, by Country, 2018–2027 (USD Million)
Table 65 North America: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 66 North America: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 67 North America: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 68 North America: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 69 North America: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 70 U.S.: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 71 U.S.: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 72 U.S.: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 73 U.S.: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 74 U.S.: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 75 Canada: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 76 Canada: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 77 Canada: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 78 Canada: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 79 Canada: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 80 Europe: Network Slicing Market Size, by Country/Region, 2018–2027 (USD Million)
Table 81 Europe: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 82 Europe: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 83 Europe: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 84 Europe: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 85 Europe: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 86 Germany: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 87 Germany: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 88 Germany: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 89 Germany: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 90 Germany: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 91 U.K.: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 92 U.K.: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 93 U.K.: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 94 U.K.: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 95 U.K.: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 96 France: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 97 France: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 98 France: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 99 France: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 100 France: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 101 Spain: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 102 Spain: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 103 Spain: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 104 Spain: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 105 Spain: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 106 Italy: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 107 Italy: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 108 Italy: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 109 Italy: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 110 Italy: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 111 Rest of Europe: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 112 Rest of Europe: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 113 Rest of Europe: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 114 Rest of Europe: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 115 Rest of Europe: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 116 Latin America: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 117 Latin America: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 118 Latin America: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 119 Latin America: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 120 Latin America: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 121 Middle East & Africa: Network Slicing Market Size, by Component, 2018–2027 (USD Million)
Table 122 Middle East & Africa: Network Slicing Services Market Size, by Type, 2018–2027 (USD Million)
Table 123 Middle East & Africa: Network Slicing Professional Services Market Size, by Type, 2018–2027 (USD Million)
Table 124 Middle East & Africa: Network Slicing Market Size, by Application, 2018–2027 (USD Million)
Table 125 Middle East & Africa: Network Slicing Market Size, by End User, 2018–2027 (USD Million)
Table 126 Recent Developments, by Company, 2018–2021
List of Figures
Figure 1 Research Process
Figure 2 Key Secondary Resources
Figure 3 Primary Research Techniques
Figure 4 Key Executives Interviewed
Figure 5 Breakdown of Primary Interviews (Supply-Side & Demand-Side)
Figure 6 Market Sizing and Growth forecast Approach
Figure 7 Key Insights
Figure 8 in 2020, the Solutions Segment Accounted for the Largest Share of the Market
Figure 9 Supply Chain Management Segment to Dominate the Network Slicing Market
Figure 10 Healthcare Sector to Dominate the Global Network Slicing Market
Figure 11 Asia-Pacific Accounted for the Largest Share of the Network Slicing Market
Figure 12 Global Network Slicing Market Size, by Component, 2020–2027 (USD Million)
Figure 13 Global Network Slicing Market Size, by Application, 2020–2027 (USD Million)
Figure 14 Global Network Slicing Market Size, by End User, 2020–2027 (USD Million)
Figure 15 Global Network Slicing Market Size, by Geography, 2020–2027 (USD Million)
Figure 16 Geographic Snapshot: Asia-Pacific Network Slicing Market
Figure 17 Geographic Snapshot: North American Network Slicing Market
Figure 18 Geographic Snapshot: European Network Slicing Market
Figure 19 Key Growth Strategies Adopted by Leading Players, 2018–2021
Figure 20 Network Slicing: Competitive Benchmarking, by Component
Figure 21 Market Share Analysis: Network Slicing Industry, 2020
Figure 22 Telefonaktiebolaget Lm Ericsson Se: Financial Overview (2020)
Figure 23 Nokia Corporation: Financial Overview (2020)
Figure 24 Cisco Systems, Inc.: Financial Overview (2020)
Figure 25 ZTE Corporation: Financial Overview (2020)
Figure 26 Huawei Technologies Co., Ltd.: Financial Overview (2020)
Figure 27 Microsoft Corporation: Financial Overview (2020)
Figure 28 Intel Corporation: Financial Overview (2020)
Figure 29 Amdocs, Inc.: Financial Overview (2020)
Figure 30 Samsung Electronics Co., Ltd.: Financial Overview (2020)
Figure 31 Hewlett Packard Enterprise: Financial Overview (2020)
Figure 32 Ciena Corporation.: Financial Overview (2020)
Published Date: Mar-2022
Published Date: Mar-2022
Published Date: Jan-2022
Published Date: Jan-2022