Pune,India, March 06, 2023 (GLOBE NEWSWIRE) -- The global Network Slicing Market Size was valued at USD 518.4 million in 2022. The market is projected to grow from USD 759.0 million in 2023 to USD 13,662.9 million by 2030, exhibiting a CAGR of 51.1% during the forecast period.
Network slicing is a method of producing more than one logical and virtualized network over a combined multi-domain infrastructure. To support users, networks, services, and specific applications, mobile network operators can speedily create network slices with Network Function Virtualization (NFV), Software-Defined Networking (SDN), orchestration, analytics, and automation.
Fortune Business Insights provides this information in its report titled "Network Slicing Market Forecast, 2023-2030."
Key Industry Development-
Reliance Jio developed the 5G Network Slicing Platform on its fifth-generation network, permitting network slicing-as-a-service.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 51.1% |
| 2030 Value Projection | USD 13,662.9 Million |
| Base Year | 2022 |
| Network Slicing Market Size in 2022 | USD 518.4 Million |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 130 |
| Segments covered | Enterprise, End-User, Region |
Key Takeaways-
- Network Slicing Market is expected to flourish & reach USD 13,662.9 Million in 2030
- The widespread acceptance of IoT and developments in Machine-to-Machine (M2M) communication networks rehabilitate multiple industries by connecting all systems, appliances, and devices.
- SDN and NFV enable software to automate modern networks. They are leading the digital transformation of network infrastructure through the telecommunications industry.
- The media and entertainment segment is projected to grow at the highest CAGR over the forecast period.
- Network Slicing Market Size in North America was USD 193 Million 2022
Drivers and Restraints-
Increasing Demand for 5G Networks to Fuel the Market
As compared to previous mobile networks, 5G networks have improved the speed and bandwidth of networks, which meet customers' needs for security, latency, coverage, reliability, and service levels. The given reason is expected to fuel the market and play a key role in 5G network growth.
Moreover, NFV and SDN technologies automate advanced networks through software. Digital transformation of networks through software is driving such technologies. NFV is used for network functions, such as routing, firewalls, and load balancing, whereas SDN provides services across hardware components.
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Regional Insights:
Acceptance of New Technologies to Help North America Dominate the Market
North America is the early adopter of 5G network services in virtual reality, autonomous driving, augmented reality, and artificial intelligence. The region also accepts new technologies and dominates the market by holding the largest network slicing market share.
Asia Pacific is expected to grow at the highest CAGR during the estimated period. Several developing economies, such as China, Japan, and India, are anticipated to grow in the market.
Europe is estimated to hold the second largest share in the market globally due to rising concerns of improving operational efficiencies, handling enormous data, and evolving digital technologies such as 5G, mobile platforms, Big Data, and cloud.
The Middle East & Africa and South America are anticipated to rise during the estimated period.
Report Coverage-
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Recent industry developments include product launches, partnerships, mergers, and acquisitions.
Network Slicing Market Segments-
Large Enterprises to Dominate Market owing to Growing Product Demand
On the basis of enterprise type, large enterprises segment is expected to lead the market during the estimated period. Large enterprises’ use of the Internet of Things (IoT) and 5G networks escalated the need for the 5G network to provide advanced services to customers.
Growing Data Generation of Employees to Uplift the Healthcare Segment
Based on end-user, the healthcare segment dominates the market by holding the largest share due to rising applications such as elders who require continuous health check–ups and tracking & remote monitoring of patients.
The media & entertainment segment is anticipated to uplift the market at the maximum CAGR during the estimated period. The national broadcasting team has started to get the benefits of this program and 5G network for events, which is expected to fuel the market.
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Competitive Landscape-
Market Players Focus on New Product Launches to Strengthen Market Position
Leading companies in the market are competing to increase their market share by providing solutions that are specific to particular sectors. These players strategically work with and take over local rivals to gain a solid regional footing. These companies prioritize developing innovative products and effective marketing strategies to capture a larger market share. It is projected that the growing volume of international trade will present lucrative opportunities for market players.
List of Key Players Mentioned in the Report-
- Samsung (South Korea)
- Nanjing ZTE software Co. Ltd. (China)
- Intel Corporation (U.S.)
- Amdocs, Inc. (U.S.)
- Nokia Corporation (Finland)
- Telefonaktiebolaget LM Ericsson (Sweden)
- VMware, Inc. (U.S.)
- Mavenir Systems, Inc. (U.S.)
- Affirmed Networks (U.S.)
- Tambora Systems Ltd. (India)
Major Table of Contents-
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Network Slicing Key Players Market Share/Ranking, 2022
- Global Network Slicing Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Enterprise Type (USD)
- Large Enterprises
- Small & Medium Enterprises
- By End-user (USD)
- Healthcare
- Government
- Transportation & Logistics
- Energy & Utilities
- Manufacturing
- Media & Entertainment
- Financial Services
- Others (Retail, Agriculture, IT & Telecommunication, etc.)
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Network Slicing Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Enterprise Type (USD)
- Large Enterprises
- Small & Medium Enterprises
- By End-user (USD)
- Healthcare
- Government
- Transportation & Logistics
- Energy & Utilities
- Manufacturing
- Media & Entertainment
- Financial Services
- Others (Retail, Agriculture, IT & Telecommunication, etc.)
- By Country (USD)
- United States
- End-user
- Canada
- End-user
- Mexico
- End-user
- United States
- South America Network Slicing Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Enterprise Type (USD)
- Large Enterprises
- Small & Medium Enterprises
- By End-user (USD)
- Healthcare
- Government
- Transportation & Logistics
- Energy & Utilities
- Manufacturing
- Media & Entertainment
- Financial Services
- Others (Retail, Agriculture, IT & Telecommunication, etc.)
- By Country (USD)
- Brazil
- End-user
- Argentina
- End-user
- Rest of South America
- Brazil
TOC Continued…!
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Related Report-
5G Infrastructure Market Share, Industry Report, 2023-2027
Cloud Computing Market Revenue Growth Forecast to 2029
Internet of Things (IoT) Market Share, Revenue And Growth Rate Till 2029
FAQ:
How big is the Network Slicing Market?
The global network slicing market size was valued at USD 518.4 million in 2022. The market is projected to grow from USD 759.0 million in 2023 to USD 13,662.9 million by 2030, exhibiting a CAGR of 51.1% during the forecast period.
How big is Network Slicing Market in North America?
The market in North America stood at USD 193.0 Million in 2022 and is expected to gain a huge portion of the market share in the coming years.
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