Report Ocean has released a research study titled “Network Slicing Market .” This study offers precise economic forecasts, global assessments, and country-level insights. It provides a comprehensive view of the competitive market and includes an in-depth supply chain analysis to identify significant industry changes. The study explores the current market status, anticipated future growth, technological advancements, investment opportunities, market economics, and financial data. It thoroughly examines the market and offers insights based on a SWOT analysis of the industry.
Network Slicing Market was valued at 172.56 Million US Dollar in 2019 and expected to grow with a CAGR 23.7% during forecasting years. Network slicing has multiple slices each slice has its own topology, performance characteristics and security rules. In other way, Network slicing is also known as virtual network and each network slice provides a dedicated network resources that fulfill the need of specific application such as speed, bandwidth and latency. Different slices devoted to different function. Network slicing empower new business opportunities for communication service providers across wide range of sectors.
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Network market growth gaining popularity due to cellular network technology which offer higher data speed and lower expectancy. Increase in volume of data supplied by cellular network technology has been led largely by consumer demand for video and shift the business towards Cloud services. It creates new revenue opportunities for communication service providers such as ability to deliver services faster with high security and flexibility. Growing adoption of SDN (software-defined networking) and NFV(network functions virtualization) solutions and surging adoption of IoT devices across different industry verticals, are key driven factors for the market growth. Increasing adoption of IoT and rapidly advancement in machine to machine communication network which is used by many industries by connecting all type of appliances, devices, services and system which in turn, increasing adoption of 5G technology to support IoT applications. Despite that, data security concerns and lack of standardization hampers the global Network Slicing Market growth.
Key Players in Global Network Slicing Market
Cisco Systems Inc.
Hewlett Packard Enterprise
Huawei Technologies Co., Ltd.
Telefonaktiebolaget LM Ericsson
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here’s an in-depth analysis of the Network Slicing Market.
- Market Overview: Network Slicing involves dividing a single physical network infrastructure into multiple virtual networks (slices) with customized characteristics to meet the specific requirements of diverse applications and users, particularly in 5G networks.
- Growth Drivers: The market is witnessing growth due to the increasing demand for diverse and specialized network services, the proliferation of IoT devices, the need for low latency and high-speed communication, and the development of 5G networks.
- Market Segmentation: It is segmented based on slice types such as enhanced Mobile Broadband (eMBB), Ultra-Reliable Low Latency Communications (URLLC), and Massive Machine Type Communications (mMTC), catering to different application requirements.
- Key Players: Major players in the network slicing market include Nokia Corporation, Huawei Technologies Co. Ltd., Ericsson, Cisco Systems Inc., and Samsung Electronics Co. Ltd. These companies offer solutions to optimize network resources and provide tailored services.
- Technological Advances: Advancements in Software Defined Networking (SDN), Network Function Virtualization (NFV), and edge computing enable efficient implementation of network slicing, allowing the allocation of resources based on application needs dynamically.
- Challenges: Challenges in this market include ensuring network slice isolation and security, orchestrating and managing multiple slices efficiently, interoperability between different vendor solutions, and meeting strict service-level agreements.
- Applications: Network slicing finds applications across various industries. In automotive, it supports connected cars and autonomous driving. In healthcare, it enables remote patient monitoring and telemedicine. In smart cities, it facilitates IoT-based services for improved city management.
- Regional Trends: Adoption varies by region due to differences in 5G deployment, regulatory policies, and industrial demands. Regions with extensive 5G infrastructure development and technological innovation witness faster adoption.
- Future Outlook: The market is expected to grow as 5G networks mature and industries leverage network slicing for specific applications. Future innovations might focus on dynamic slice orchestration, AI-driven slice optimization, and expanded use cases in diverse sectors.
- Market Opportunities: Opportunities exist for vendors to develop standardized slice management platforms, create industry-specific slice templates, and offer managed services catering to enterprise needs. Additionally, with the evolution of technologies like AI and IoT, the scope of network slicing can expand further, providing specialized and customizable services to various industries.
The detailed segments and sub-segment of the market are explained below:
By End User:
By Industry vertical:
Media & Entertainment
Transport & Logistic
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