Network Slicing Market Size Expected To Reach USD 60.67 Billion at a CAGR of 18.3%, By 2028

 

The Network slicing market is forecasted to grow from USD 15.83 Billion in 2020 to USD 60.67 Billion by 2028, at a CAGR of 18.3% during the forecast period. The driving factor for growth being the Increasing demand for fast speed and wider network coverage, acceptance of broadband over mobile networks.

The high growth in mobile data traffic, the increased demand for fast speed and wide network coverage, and the virtualization of networks are some of the factors forecasted to be the major drivers for the growth of the market along with the huge demand for broadband over mobile networks. The network slicing market is forecasted to grow with the rapid increase in the number of Internet of Things (IoT) connected devices and active networks. As the operators have initiated the investments for advanced and new technologies to solve the efficiency and flexibility demands of the users, the market is going to face a huge rise in future.

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Further key findings from the report suggest

• The Network slicing market is forecasted to grow from USD 15.83 Billion in 2020 to USD 60.67 Billion by 2028, at a CAGR of 18.3% during the forecast period. The driving factor for growth being the Increasing demand for fast speed and wider network coverage, acceptance of broadband over mobile networks.
• The high demand for broadband over mobile networks and growing need of fast speed and wider network coverage are the factors forecasted to drive the market. However, the low penetration of 5G may act as the restraining factor for the growth of the market.
• Based on implementation, the market is segmented as Real time surveillance and Network function virtualization. Network function virtualization is forecasted to be a faster growing implementation type in this market, because of its reduced power efficiency feature and enhanced physical space.
• Based on service, the market is segmented as professionals and managed. Network slicing market operates by slicing a physical network into several logical networks. Network slicing supports the real-time services for application by using the same physical network. Along with network slicing, other network resources can efficiently be allocated to logical network slices accordingly to maintain the required quality of service (QoS).
• Based on type, the market is segmented as Software defined network and Cloud radio access. The software defined Network (SDN) is forecasted bring highest CAGR of 18.6 %. Software Defined Network (SDN) and Network Function Virtualization (NFV) technologies are believed to play an important role in the Network slicing market.
• Based on region, the market is being segmented to Europe, APAC, North America, and Row. North America market is a dominating global market, due to the increasing adoption of cloud technologies. Another reason being the establishment of world’s largest technological companies, making North America one of the primary regions to adopt the market. Furthermore, the enhanced sell of smartphones and mobile devices has led to the high adoption of BYOD, which in turn is resulting in the adoption of on-cloud mobile in the companies.
• The Key players in the Network slicng market include Ericsson (Sweden), Huawei (China), Nokia (Finland), Intel (US), Cisco (US), ZTE (China), SK Telecom(South Korea), Affirmed Networks (US), NTT DOCOMO (Japan), and Mavenir (US)

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For the purpose of this report, the market has been segmented on the basis of Implementation, Service, Type and region:

Implementation Outlook (Revenue, USD Million; 2018-2028)

• Real time surveillance
• Network function Virtualization

Service Outlook (Revenue, USD Million; 2018-2028)

• Professional
• Managed

Type Outlook (Revenue, USD Million; 2018-2028)

• Software defined network (SDN)
• Cloud radio access network

Regional Outlook (Revenue, USD Million; 2018-2028)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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