Network Slicing Market Seg

WILMINGTON, DE, UNITED STATES, March 15, 2024 /EINPresswire.com/ -- The global network slicing industry size was valued at $172.56 million in 2019, and is projected to reach $921.02 million by 2027, registering a CAGR of 23.7% from 2020 to 2027.

Asia-Pacific is expected to witness highest growth rate during the forecast period, owing to the extensive adoption of mobile devices across the developing countries such as China & India. In addition to this, there is rapidly growing investments in 5G infrastructure across the region to facilitate an array of new services for consumers, by driving economic growth. For instance, according to the Asia-Pacific edition of the GSMA’s Mobile Economy series, Asia’s mobile operators are projected to invest around $370 billion building-out new 5G networks between 2018 and 2025. Such investments are opportunistic for the growth of network slicing market in the region.

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The global network slicing market is experiencing significant growth, driven by several key factors. The increasing demand for advanced 5G networks, with their enhanced speed and bandwidth capabilities, is a primary driver. This demand is further fueled by the expanding use cases of network slicing in the context of Industry 4.0, as well as the development of smart cities and associated smart services.

Furthermore, the exponential growth in mobile data-traffic volumes necessitates improved network performance, spurring the adoption of network slicing. Additionally, the widespread adoption of software-defined networking (SDN) and network function virtualization (NFV) contributes to market expansion by enabling greater flexibility and efficiency in network management.

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However, security concerns represent a significant challenge to market growth. Despite this, emerging applications across government, industrial, and enterprise sectors are expected to present lucrative opportunities during the forecast period. Moreover, the increasing adoption of technologies such as remote surgery and autonomous vehicles further augments the market's growth potential.

While security concerns may pose obstacles, the growing demand for advanced network capabilities across various sectors, coupled with emerging applications, is anticipated to drive substantial growth in the global network slicing market in the foreseeable future.

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The COVID-19 pandemic has significantly pushed demands for broadband services with the help of growing mobile networking and remote access services in several industries such as retail, telecom, IT, and healthcare. As businesses around the globe has started to reopen, communications service providers are shifting their focus to 5G rollouts, and are accelerating investments in network slicing. In addition, COVID-19 has driven the demand for 5G use cases such as remote office, telemedicine, remote education, and robotics which further boost the network slicing market.

Some of the key network slicing industry players profiled in the report include Affirmed Networks Inc., Argela Technologies, Cisco Systems Inc., Hewlett Packard Enterprise, Huawei Technologies Co., Ltd., Mavenir, Nokia, Samsung, Telefonaktiebolaget LM Ericsson, and ZTE.

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