Network Slicing is Expected to Become a Key Enabler for Unlocking 5G Revenue Opportunities
Overview
The global network slicing market is projected to reach USD 1,936.67 million by 2026, registering a CAGR of 51.48% during the forecast period. In this report, CRI Report (CRI) includes the segmentation and dynamics of the network slicing market to offer a better glimpse into the coming years
The global network slicing market has been segmented based on component, end user, application, and region
Based on components, the global network slicing market has been segmented into solutions and services. The services segment is further sub-divided into professional and managed services. The solution segment is expected to account for a significant market share over the projected period. The increasing adoption of network slicing solutions in the market for delivering high-speed network coverage services across various end users contributes to the growth of the solution segment in the global market during the forecast period.
Based on end users, the global network slicing market has been segmented into telecom operators and enterprises. The market is likely to be dominated by telecom operators and is expected to maintain its dominance during the study period, 2020-2026. This is primarily due to the increasing customer demands for high-speed connectivity services. Additionally, major telecom operators are partnering with global network solution providers to test network slicing technologies for 5G networks.
Based on application, the network slicing market has been segmented into manufacturing, healthcare, government, automotive, media & entertainment and others. The healthcare industry is expected to dominate the market during the study period, 2020-2026, due to the growing adoption of remote healthcare services across the globe. For instance, the National Health Commission of China, China’s healthcare and communications industry and 95 other leading Chinese hospitals entered into a partnership with telecommunication industries to release a standard for 5G hospital networks. The partnership will allow improvement on medical technology and services of hospitals by ensuring high-quality 5G networks among hospitals.
Competitive Analysis
The key players of the global network slicing market are Huawei Technologies (China), ZTE Corporation (China), Ericsson (Sweden), Affirmed Networks (US), CISCO Systems (US), Nokia (Finland), Samsung (South Korea), NTT Docomo (Japan), BT Group PLC (UK), NEC Corporation (Japan), Aria Networks (UK), Parallel Wireless (US), Mavenir (US), AMDOCS (US), and Argela Technologies (Turkey).
Regional Analysis
The regional analysis for the global network slicing market has been done for North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America. The market in North America accounted for the largest market share in 2019, and it is expected to register strong growth during the forecast period. The market in Asia-Pacific is expected to register the highest CAGR during the forecast period. This growth can be attributed to the industrial and technological advancements in the economies of the region.