New York, USA, Nov. 30, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global network slicing market is predicted to generate $1,456.6 million in revenue and rise at a noteworthy CAGR of 24.20% during the forecast timeframe from 2020-2027.
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As per our analysts, due to the increase in the adoption of network slicing in overcoming the challenges caused by mobile data traffic all across the globe, the market is expected to witness striking growth over the forecast period. Moreover, the growing strategic collaboration and development among market players are further expected to bolster the growth of the market during the analysis timeframe. Besides, the emerging 5G network slicing for new businesses is predicted to create massive growth opportunities for the network slicing market throughout the forecast period. However, security fractures and other challenges such as exposure constraints and information sharing may hamper the growth of the market over the forecast period.
Covid-19 Impact on the Network Slicing Market
While the wake of the Covid-19 pandemic has devastated several industries and brought many challenges before the businesses to run, however, it has a positive impact on the network slicing market over the analysis timeframe. During the pandemic, the growing demands for broadband services with mobile networking and surging remote access services across many industries such as telecom, IT, retail and healthcare, have driven the growth of the market to another level. In addition, the growing dependency on networks to control the burden of the customers’ queries during the prolonged lockdown has positively impacted the growth of the market during the crisis.
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Segments of the Network Slicing Market
The report has been divided the market into segments namely, component type, services, application, end-user, and region.
Component Type: Solution Sub-Segment to be Most Lucrative
The solution sub-segment is expected to generate a revenue of $942.7 million during the forecast period. This is mainly because of its applications in every sector, society, and industry. In addition, the technological advancements along with data security, energy efficiency, and massive connectivity are the factors predicted to uplift the growth of the network slicing market sub-segment throughout the estimated timeframe.
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Services: Professional Services Sub-Segment to be Most Profitable
The professional services sub-segment is expected to garner a revenue of $802.3 million over the analysis period. This is mainly due to the growing adoption of network slicing platforms like Quality of Service (QoS), energy efficiency, data security, and massive connectivity. Moreover, due to the improvement in the efficiency of operations and delivery of 5G network services offered by the network slicing platforms is the factor projected to fuel the growth of the market sub-segment over the estimated timeframe.
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Application: Real-Time Surveillance Sub-Segment to be Most Productive
The real-time surveillance sub-segment is projected to garner a revenue of $832 million over the analysis timeframe. This is because of the growing number of internet subscribers and mobile data traffic for seamless connectivity. Furthermore, the continuous deployment and integration of new technologies by the leading market players for the development of virtual networks are anticipated to fortify the growth of the network slicing market sub-segment over the estimated period.
End-User: Government Sub-Segment to be Most Beneficial
The government sub-segment is predicted to garner a revenue of $246.1 million over the analysis timeframe. This is mainly due to the increasing support of the government for the expansion of 5G infrastructure in telecom. Moreover, the growing government initiatives in upgrading telecom network infrastructure, modernizing the outdated laws and regulations are expected to boost the growth of the market sub-segment during the forecast period.
Region: North America Region to Have the Largest Share of the Market
The North America region is envisioned to generate a revenue of $410.3 million throughout the forecast period. This is major because of the rising adoption of the latest technologies, in addition to agile networks and smart connected devices to deploy 5G networks platforms for the business processes in this region. Moreover, the existence of leading network slicing solution providers is one of the major factors expected to amplify the regional growth of the network slicing market over the estimated period.
Key Players of the Network Slicing Market
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
These players are working on the development of new business tactics to attain the leading positions in the global industry.
For instance, in December 2019, SliceNet, a project focusing on network slicing as a cornerstone technology in 5G networks, and MATILDA, a leading provider of an integrated cloud-agnostic AI-driven platform, have announced their collaboration on network slicing and 5G ready applications. With this collaboration, the companies are aiming to enable the multiplexing of remote and logistics networks on the same physical network.
Additionally, the report also summarizes other aspects such as product portfolio, the financial performance of the key players, SWOT analysis, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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