Network Slicing Market Size, Share, Industry Trends and Forecast to 2030

Network Slicing Market Size & CAGR in 2021

The global network slicing market is forecasted to have a growth rate of 4.25% CAGR from 2021 to 2030. It is estimated that the market will reach a value of USD 5.6 billion by the end of 2028. The increasing demand for customized network solutions and the rapid adoption of 5G technology are the primary factors driving the growth of the network slicing market.

COVID-19 Impact on the Network Slicing Market

The COVID-19 pandemic has had a significant impact on the network slicing market. With the increase in remote working and online activities, there has been a surge in demand for high-speed and reliable network connectivity. This has led to the accelerated implementation of network slicing technology by telecom operators to ensure efficient resource allocation and improved network performance.

Network Slicing Dynamics

Network slicing is a key technology in the development of 5G networks, enabling operators to create virtualized network segments tailored to specific applications or services. It allows for the efficient use of network resources, improved quality of service, and enhanced user experience. The growing adoption of IoT devices, increasing data traffic, and rising demand for low-latency connectivity are driving the demand for network slicing solutions.

Segments and Related Analysis

The network slicing market can be segmented based on technology, service type, application, and end-user industry. Technologies such as radio access network (RAN) slicing, core network slicing, and transport network slicing are widely used in network slicing solutions. Service types include enhanced mobile broadband (eMBB), ultra-reliable low-latency communication (URLLC), and massive machine-type communication (mMTC). Applications of network slicing are observed in industries such as healthcare, automotive, manufacturing, and smart cities.

By Region Analysis

Regionally, North America is expected to dominate the network slicing market due to the early adoption of 5G technology and the presence of key market players in the region. Europe is projected to witness significant growth in the market, driven by the rapid deployment of 5G networks and government initiatives to promote digital transformation. The Asia Pacific region is also anticipated to experience substantial growth, supported by the increasing demand for high-speed connectivity and the development of smart cities.

Key Market Players and Competitive Landscape

Some of the key players in the network slicing market include Huawei Technologies Co., Ltd., Nokia Corporation, Ericsson AB, Cisco Systems, Inc., and ZTE Corporation. These companies are actively involved in product development, partnerships, and strategic collaborations to strengthen their market position and meet the evolving needs of customers.

Recent Happenings in the Network Slicing Market

- In April 2022, Huawei Technologies announced the launch of a new network slicing solution for vertical industries, aimed at enabling customized network services tailored to specific industry requirements.

- Ericsson AB partnered with a leading telecom operator to implement network slicing technology in a live 5G network, showcasing the benefits of network slicing for improved service delivery and network efficiency.

- Cisco Systems, Inc. introduced a new portfolio of network slicing solutions designed to enable service providers to optimize network resources and deliver differentiated services to customers.

- ZTE Corporation collaborated with a major automotive manufacturer to deploy network slicing technology in connected vehicles, demonstrating the potential of network slicing in enabling new IoT applications and services.