New York, USA, Sept. 13, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global network slicing market is anticipated to generate a significant revenue of $1,456.6 million at a CAGR of 24.20% during the forecast period, 2020-2027.
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The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints, and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Dynamics of the Market
Drivers: The demand of network slicing technology has been increased in order to overcome the challenges created by increasing mobile data traffic. With the rising internet subscribers and essential online services across the world, mobile data traffic has been increased like never before. This is the main factor enhancing the growth of the market during the forecast period.
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Restraint: Security fissures and other challenges related to information sharing and exposure constraints are expected to hamper the growth of the market during the forecast period.
Opportunity: The use of 5G network slicing competencies in the businesses is expected to create many opportunities for the market in upcoming years.
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Key Segments of the Market
The report has divided the market into different segments based on component type, services, end-user, applications, and regional analysis.
Component: Solution Sub-Segment Expected to be the Most Lucrative
Solution sub-segment is predicted to generate the highest revenue of $942.7 million during the analysis period. Network slicing provides quality of service (QoS), data security, energy efficiency and immense connectivity, which is expected to be one of the major factors behind the growth of the market segment.
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Services: Professional Sub-Segment Predicted to be the Most Profitable
The professional services sub-segment is predicted to generate a revenue of $802.3 million by the end of 2027, with CAGR of 28.10%, increasing from $61,691.0 million in 2019. The reason behind this growth is the application of network slicing platform in various industrial aspects such as data security, Quality of service (QoS), excellent connectivity, and energy efficiency. This platform also helps in the development of operations and in improving the efficiency of 5G network infrastructure.
Application: Real-Time Surveillance Sub-Segment Expected to be the Most Lucrative
Real-time surveillance sub-segment is anticipated to garner a revenue of $832 million during the forecast period. The main attributor of this growth is the increasing number of internet subscribers and mobile data traffic for seamless connectivity.
End-User: Government Sub-Segment Predicted to Earn the Highest Market Share
The government sub-segment is predicted to dominate the market by garnering a revenue of $246.1 million by the end 2027, rising from $46.1 million in 2019. The government support for the 5G infrastructure development in the telecom sector is main factor accelerating the growth of the segment.
Impact Analysis of COVID-19
The COVID-19 pandemic has impacted the global network slicing market in a positive way.
This is because of the increasing demand of broadband services, remote access services in many IT, retail, and healthcare industries during the lockdown period. Other factor that may be posed as an enhancer of the market is the deployment of wireless networking services in recent months of 2020 and 2021. These are the major reasons behind the growth of the network slicing market during the pandemic.
Region: North America to Dominate the Market
Rapid penetration of cutting-edge technologies, approval of industrial IoT, smart connected devices and agile networks in the North American countries are contributing to the growth of the market during the forecast period.
Key Players & Strategies
1. Nokia
2. Parallel Wireless
3. Mavenir
4. Tambora Systems
5. Cisco Systems
6. Huawei
7. Affirmed Networks
8. Argela
9. BT 2020
10. NTT Docomo Inc
Recent development
In January 2021, Ericsson, a Swedish multinational networking and telecommunications company, launched a profitmaking 5G network slicing product for radio access networks (RAN). According to the company, 5G RAN slicing distributes radio resources based on dynamic partitioning, which conveys 1 millisecond scheduling. The RAN slicing technology is an essential element for end-to-end network slicing. It performs across the RAN, core, transport, and edge networks to provide a steadfast slice that is offered to enterprise customers or service providers.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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