Press release
Network Slicing Market Size Worth US$ 1,318.2 Million by 2028 | CAGR 23.4%
Network Slicing Market
Report Highlights
How big is the network-slicing market?
The global network slicing market size reached US$ 377.0 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,318.2 Million by 2028, exhibiting a growth rate (CAGR) of 23.4% during 2023-2028.
What is network slicing?
Network slicing refers to the method of building multiple logical and unique virtualized networks on a common physical infrastructure which is an essential network configuration component of the fifth-generation (5G)architectural landscape. It is generally created by mobile network operators (MNOs) using network functions virtualization (NFV), software-defined networking (SDN), analytics, orchestration and automation for supporting a specific application or a set of networks. It aids in minimizing operating costs, reducing capital expenditure and providing improved operational efficiency by transforming business operations and tailoring networking specifications. As a result, it is widely adopted in real-time streaming, asset management, supply chain management and network monitoring.
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What are the growth prospects and trends in the network slicing industry?
The global market is primarily driven by the increasing demand for network slicing by communication service providers. This is supported by continual improvements in the cellular network technology and the escalating preference for high-speed internet connectivity among the masses. Additionally, the sudden outbreak of coronavirus disease (COVID-19) has led to the growing demand for broadband services across geographically extended areas, which is positively impacting the market. Along with this, continuous technological advancements and the deployment of the 5G services in artificial intelligence (AI), autonomous driving, virtual reality (VR) and augmented reality (AR) applications are providing an impetus to the market.
Moreover, rising investments by public and private firms for upgrading the existing telecom infrastructure across multiple countries are positively influencing the market. Furthermore, the increasing adoption of 5G network for conductingcomplex surgeries using robots in the healthcare sector is acting as another growth-inducing factor. Other factors, including the expansion of smart grids as an initiative of smart city development and extensive research and development (R&D) activities conducted by key players, are also projected to drive the market growth.On account of the aforementioned factors, the market is anticipated to reach a value of US$ 1,318.2 Million by 2028, expanding at a CAGR of 23.4% during 2023-2028.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
Solution
Services
Breakup by End User:
Telecom Operators
Enterprises
Breakup by Industry Vertical:
Manufacturing
Healthcare
Automotive
Media and Entertainment
Transport and Logistic
BFSI
Government
Others
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Affirmed Networks Inc. (Microsoft Corporation)
Amdocs
Argela Technologies (Türk Telekomünikasyon A.)
Aria Networks Ltd.
BT Group plc
Cisco Systems Inc.
Hewlett Packard Enterprise Development LP
Huawei Technologies Co. Ltd.
Mavenir
NEC Corporation (AT&T Inc.)
Nokia Corporation
Samsung Electronics Co. Ltd
Telefonaktiebolaget LM Ericsson
ZTE Corporation.
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Contact US
IMARC Group
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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