The global network slicing market size is projected to grow from USD 161 million in 2020 to USD 1,284 million by 2025, at a Compound Annual Growth Rate (CAGR) of 51.5% during the forecast period. The network slicing market is gaining traction due to the evolution of cellular network technology, increase in demand for broadband services over a mobile network, virtualization of networks, significant growth in mobile data traffic volumes, and a rise in demand for high-speed and large network coverage are driving the growth of the network slicing market.
Services segment to grow at the highest CAGR during the forecast period
Services play a vital role in the deployment and integration of next-generation networking solutions in an enterprise’s business environment. Services are considered an important component of the network slicing market, as they majorly focus on improving the business processes and optimizing the enterprise’s network. Services are considered as the backbone of network slicing, as they are instrumental in fulfilling the clients’ requirements, such as network testing, planning and optimization, support and maintenance, and consulting.
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Automotive segment to grow at the highest CAGR during the forecast period
The automotive industry also makes use of the 5G technology to boost the productivity, enhance the efficiency, increase drive the brand loyalty, and offer autonomous and cooperative vehicles with significantly improved security standards and multimodal transportation solutions. The introduction of next-generation technologies, such as 5G gave birth to numerous applications, such as AR, virtual realityVR, and tactile internet.
Key and innovative vendors in the Network Slicing market include Nokia (Finland), Ericsson (Sweden), Huawei (China), ZTE(China), Samsung (South Korea), Blue Planet (US), Parallel Wireless (US), Affirmed Networks(US), Mavenir(US), Argela(Turkey), Cisco(US), HPE(US), Tambora Systems(Singapore), AMDOCS(US) and Aria Networks(UK).
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BluePlanet offers automation software for IT and networks to bring the changes in the arena of digital transformation with its portfolio of offerings. The solution offerings include network services automation, dynamic services automation, operations automation, and proactive network automation. The company has also entered the area of 5G edge automation and automated edge cloud recently. The company has also diversified its 5G portfolio with network slicing solutions, such as BluePlanet 5G Automation, to enable the MNOs and manage the end-to-end network slicing.
Huawei is investing a great effort to establish a cloudified full connected world using 5G. with E2E network slicing capabilities for RAN, transport, and core network. The firm’s slicing capabilities includes, and also massive MIMO C-band for high throughput, physical isolation, and ultra-low latency mobile edge computing technology. In 2018, Huawei claimed that it implemented the first application of 5G network slicing in a large-scale live broadcasting, in collaboration with China Mobile and its entertainment subsidiary, Migu.
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