Network Slicing Market Overview 2023-2028, Industry Size, Share, Trends and Forecast

IMARC Group, a leading market research company, has recently releases report titled "Network Slicing Market Report by Component (Solution, Services), End User (Telecom Operators, Enterprises), Industry Vertical (Manufacturing, Healthcare, Automotive, Media and Entertainment, Transport and Logistic, BFSI, Government, and Others), and Region 2023-2028." The study provides a detailed analysis of the industry, including the global network slicing market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the 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.

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What is network slicing?

Network slicing is the ability to create multiple virtual networks or slices on a single physical network infrastructure. It is a crucial concept in modern telecommunications and the implementation of 5G networks. Each slice operates as an independent, isolated network tailored to specific user or application requirements. This innovation enables network operators to efficiently allocate network resources, ensuring that different services and applications receive the necessary bandwidth, latency, and quality of service to function optimally.

What are the growth prospects and trends in the network-slicing industry?

The rollout of 5G networks worldwide is a major catalyst for the network slicing market. The enhanced capabilities of 5G, such as higher data speeds, lower latency, and massive device connectivity, necessitate network slicing to efficiently manage diverse service requirements. Additionally, the Internet of Things (IoT) is experiencing rapid adoption across various industries, from smart cities to industrial automation. Network slicing allows network operators to provide tailored connectivity solutions for IoT devices, optimizing resource allocation and ensuring reliable communication. Other than this, businesses are increasingly leveraging network slicing to meet their specific connectivity needs. Whether it is for secure private networks, dedicated bandwidth for critical applications, or specialized services, network slicing enables telecom providers to cater to enterprise demands effectively.

Besides this, the rise of edge computing, which processes data closer to the source of generation, requires low-latency, high-speed connections. Network slicing plays a crucial role in delivering the required network performance for edge computing applications. In line with this, the rising demand for high-quality, low-latency multimedia experiences is pushing network providers to deliver on these expectations. Network slicing ensures that consumers can access streaming, gaming, and other bandwidth-intensive applications seamlessly. Furthermore, as data breaches and cyber threats continue to be a concern, network slicing offers enhanced security features. Slices can be customized with different security levels to protect sensitive data and ensure privacy, appealing to both businesses and consumers. Moreover, network slicing is pivotal for the adoption of Industry 4.0 practices, which rely on real-time data and automation. It enables manufacturers to create dedicated slices for machine-to-machine communication, robotics, and quality control, improving operational efficiency.

What is included in market segmentation?

The report has segmented the market into the following categories:

Component Insights:

Solution
Services

End User Insights:

Telecom Operators
Enterprises

Industry Vertical Insights:

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

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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

Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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