Network Slicing Market Potential Growth, Latest Trends and Drivers Forecast Period 2020 to 2026
Network slicing market is poised to gain major impetus over the ensuing years on account of robust technological advancements along with increasing use cases of network slicing across several industries such as manufacturing, healthcare, retail, etc.
Speaking of the significance of network slicing, it is an essential part of 5G networks as it improves energy efficiency and enhances resource allocation. Apparently, in 5G networks, one physical network is often separated into various Radio Access Networks (RANs) and a single RAN can connect various services. This model allows 5G network operators to select the features for several capabilities such as traffic capacity, spectrum efficiency and connection density. Further, with network slicing, operators could allocate the appropriate amount of network resources to a specific slice. Moreover, network slicing can also provide quick data speeds, low latency and provide high throughput.
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Network slicing in 5G offers greater robustness, stable, elasticity and secure operations through compartmentalization of the applied end to end network. Network slicing also allows service providers to customize services for their customers.
According to a report by GMI, Inc., network slicing market is projected to witness exponential growth over the forecast period of 2020 to 2026, considering the prominence of below mentioned trends:
Development of novel solutions by prominent market players
Major industry players operating in network slicing market such as Amdocs, HCL Technologies, Affirmed Networks, RedZinc Services, ZTE Corporation, etc., are inclined on developing new solutions in order to strengthen their product portfolio and gain strong market presence. For instance, in 2020, Amdocs announced the introduction of its novel networking solution named 5G Slice Manager. According to the company, this solution can allow service providers to expedite their 5G journey while offering a comprehensive capability of managing and monetizing 5G network slices from designing to creation, launch and on-going closed-loop operations.
Increasing adoption of Integration & deployment
Integration & deployment segment had secured a sizeable market share of around 45% in 2019 and is projected to grow over time. The growth can be credited to shifting preference towards outsourcing the deployment of network slicing solutions. This is majorly due to the advantages associated with the outsourcing such as less cost incurred as compared to the cost of in-house set up. Moreover, outsourcing the services helps in protecting the intellectual properties of the company which will stimulate the adoption of integration & deployment further.
Heightened popularity across energy & utility segment
Energy & utility segment is estimated to observe a substantial CAGR of more than 20% through 2026 owing to increased deployment of smart meters. According to Infosys Knowledge Institute Survey, energy & utility companies are the leading users of 5G and are involved in developing business cases, partnerships and services associated with 5G. Around 56% of the companies in energy & utility sector are defining use cases for 5G while 20% are already defining their 5G service portfolios.
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Burgeoning demand across retail sector
Retail sector had accounted for a notable network slicing market share of over 10% in 2019 and is expected to show remarkable growth over the upcoming years. This can be attributed to growing adoption of advanced networking solutions across e-commerce companies. Further, leading industry players are also inclined on providing more enhanced networking solutions to effectively serve the customer base.
For instance, in 2020, Hewlett Packard Enterprise company Aruba announced the introduction of SD-Branch solutions which offers highly secure, simplifies and streamlined deployment along with improved management of large retail networks.
Increased penetration of broadband across LAMEA region
LAMEA network slicing market is likely to experience a commendable growth over the subsequent years considering the accelerating demand for broadband in the region. This is evident from the ITU report which depicted that as 2018, around 1,300,000 internet subscribers were recorded in the UAE, out of which over 99% had broadband connections. This will offer positive growth prospects for the regional market. For the record, in 2019, LAMEA network slicing industry had secured an appreciable market share of more than 10%.
Table of Contents (ToC) of the report:
Chapter 1. Methodology & Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope
1.1.5. Definitions
1.1.6. Methodology & forecast parameters
1.2. Data Sources
1.2.1. Secondary
1.2.1.1. Paid sources
1.2.1.2. Public sources
1.2.2. Primary
Chapter 2. Executive Summary
2.1. Network slicing market 360º synopsis, 2015 - 2026
2.2. Business trends
2.3. Regional trends
2.4. Solution trends
2.5. Application trends
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