Network Slicing Market Size By Component (Solution, Service [Training & Consulting, Integration & Deployment, Managed Services]), By Application (Manufacturing [Process Monitoring, Motion Control], Energy & Utility, Healthcare [Remote Healthcare, Medical Device Tracking], Automotive [Autonomous Driving, Telematics], Government [Smart City, Public Safety], Retail [Supply Chain Management, Asset Tracking & Monitoring], BFSI), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026
Published Date: Feb 2020 | Report ID: GMI4569 | Authors: Preeti Wadhwani, Sachin Kasnale
Industry Trends
Network Slicing Market size exceeded USD 200 million in 2019 and is estimated to grow at a CAGR of over 15% from 2020 to 2026. Rising demand for next generation 5G network due to its better bandwidth and speed capabilities will drive the market growth. Different industry verticals are expected to increase their productivity owing to commercialization of 5G network. Network slicing is supporting these businesses with massive IoT and low latency services for their digital transformation.
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Network slicing enables creation of multiple virtual networks over a shared common physical infrastructure. Each virtual network is also known as network slice, which can be configured to support specific industry applications such as smart factory, smart home, smart grid, and connected cars. Each network slice provides a dedicated set of network resources that complement the needs of a specific application such as speed, bandwidth, and latency.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | USD 200 Million |
| Historical Data for: | 2017 to 2019 | Forecast Period: | 2020 to 2026 |
| Forecast Period 2020 to 2026 CAGR: | 15% | 2026 Value Projection: | USD 600 Million |
| Pages: | 255 | Tables, Charts & Figures: | 455 |
| Geographies covered (17): | U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, China, India, Japan, Australia & New Zealand, South Korea, Brazil, Mexico, South Africa, GCC | ||
| Segments covered: | Component, Application and Region | ||
| Companies covered (20): | Affirmed Networks, Amdocs, Argela Technologies, Cisco Systems, Inc., Cloudstreet, HCL Technologies Limited, Huawei Technologies Co., Ltd., Mavenir, Nokia Corporation, Parallel Wireless, Inc., RedZinc Services Ltd., Telefonaktiebolaget LM Ericsson, and ZTE Corporation | ||
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Solutions segment held the highest revenue share in the UK region
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In UK, solutions segment dominated more than 80% of the market share in 2019 led by rising demand for better speed and bandwidth connectivity by telecom operators to serve different customer needs. Network slicing solutions help telecom operators to deliver enhanced customer experience through better data throughput and reduced total cost of ownership. The increasing adoption of virtualized slicing solutions is also fueling market value. The major telecom operators in the market are partnering with network solution provider companies to test the capabilities of network slicing technology.
Rising adoption of e-health services will propel the network slicing market demand in China
The healthcare application segment in China accounted for around 20% of industry share in 2019 impelled by the growing adoption of remote healthcare services. The increase in number of wireless medical devices for improving healthcare services is supporting market expansion. Healthcare institutions are transforming their network infrastructures to integrate more advanced wireless medical devices to enhance healthcare experience. Network slicing technology is also helping in monitoring different healthcare parameters remotely with better efficiency compared to legacy network infrastructure.
The healthcare institutions are partnering with major telecom companies to implement 5G network slicing technology across the healthcare industry. For instance, in October 2019, under the guidelines of National Health Commission (NHC) of China, China Association of Medical Equipment (CAME) and more than 30 hospitals partnered with major telecom service providers such as Huawei, China Mobile, China Unicom, and China Telecom to release 5G Hospital Network Standard. This partnership helped to increase research and development activities in healthcare applications based on 5G slicing technology. These initiatives are supporting the market size across the healthcare sector.
Increasing mobile subscribers will create growth opportunities for the APAC region
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Asia Pacific network slicing market will showcase growth of over 20% till 2026 on account of rising adoption of mobile devices in developing countries such as India and China. According to GSMA’s ‘The Mobile Economy Asia Pacific 2019’ report, the number of unique mobile subscribers reached 2.8 billion and mobile internet users reached 1.9 billion mark in 2018. This increase in internet subscribers is resulting in massive data traffic that enables telecom operators to deploy advanced network solutions to manage this network traffic. The network slicing is helping telecom operators to manage rising network traffic by creating multiple virtual network slices. Supportive government initiatives for commercialization of next generation 5G network are also supporting the regional market growth.
The companies are introducing new slicing solutions to sustain in the market competition
The players operating in the network slicing industry are emphasizing on introducing new network slicing solutions to the market to increase their customer experience.
Some of the prominent market participants include Affirmed Networks, Amdocs, Argela Technologies, Cisco Systems, Inc., Cloudstreet, HCL Technologies Limited, Huawei Technologies Co., Ltd., Mavenir, Nokia Corporation, Parallel Wireless, Inc., RedZinc Services Ltd., Telefonaktiebolaget LM Ericsson, and ZTE Corporation.
The network slicing market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2026 for the following segments:
Market, By Component
- Solution
- Service
- Training & Consulting
- Integration & Deployment
- Managed Services
Market, By Application
- Manufacturing
- Process Monitoring
- Motion Control
- Energy & Utility
- Healthcare
- Remote Healthcare
- Medical Device Tracking
- Automotive
- Autonomous Driving
- Telematics
- Government
- Smart City
- Public Safety
- Retail
- Supply Chain Management
- Asset Tracking and Monitoring
- BFSI
- Others
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- South Korea
- LAMEA
- Brazil
- Mexico
- GCC
- South Africa
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