The global network slicing market is expected to gain significant momentum in the forecast period 2020-2027. The services type sub-segment is set to gain the highest market share. The professional services sub-segment is predicted to dominate the market. The North American region is expected to further add to the market growth in the coming years.

New York, USA, June 22, 2021 (GLOBE NEWSWIRE) -- According to the latest report by Research Dive, the global network slicing market is predicted to witness a significant rise in revenue from $270.1 million in 2019 to 1,456.6 million by 2027 at a stable CAGR of 24.2% from 2020-2027.

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Market Analysis

The rising data traffic along with the increase in the number of internet subscribers has been one of the primary factors for the growth of the global network slicing market. Network slicing is essential for the smooth functioning of mobile data traffic. Additionally, various initiatives and development by renowned key players is further expected to push the market growth.

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On the contrary, the fractures in security along with chances of data being shared or revealed is expected to act as a barrier for the growth of the market. Another cause for slowing down the market growth is the network slice requests brokerage.

In the recent years, many countries have been adopting 5G network slicing which has provided a platform for several businesses to use the 5G network. It ensured that the cloud security and real-time connectivity are functioning without errors while also helping in making their operation more seamless. These factors are responsible for providing a window of opportunity to the global network slicing market.

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COVID-19 Impact on the Market

The global network slicing market is projected to witness an increase in the growth rate during the COVID-19 pandemic. The progressive growth of the overall market is owing to the growing demand for broadband services and increasing remote access services in several industries such as IT, telecom, healthcare, retail, etc. Moreover, the deployment of wireless networking services from 2020 to 2021 has positively impacted the network slicing market.

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Segmental Analysis

Services Sub-segment to Hold Highest Market Share

By component type, the services sub-segment is expected to witness a rise in revenue from $81.7 million in 2019 to over $513.7 million by 2027. The growth is credited to the quality of service in terms of network resources, which is highly efficient and has ensured smooth implementation of the 5G networks. Multiple pioneers in the field have also made contribution to the segment ensuring its steady growth.

Professional Services Sub-segment to Dominate the Market

By services, the professional services sub-segment predicted to witness a significant growth in revenue from $61,691.0 million in 2019 to over $802.3 million by 2027. Several prominent factors such as energy efficiency, data security, and the extensive connectivity is expected to enhance the growth of the sub-segment. The professional services platform also ensures efficiency in the functioning of 5G network.

Network Function Virtualization Sub-segment to Gain Momentum in the Market

According to the report, by application, the network function virtualization sub-segment is expected to witness a rise in revenue from $150.9 million in 2019 to over $624.5 million by 2027. This growth is due to the new age technological advancements such as network slicing that are also used to stream media, control autonomous vehicles in real-time while also ensuring proper broadband connectivity. These factors are expected to propel the growth of the sub-segment.

Government Sub-segment to Garner Highest Revenue

By end user, the government sub-segment is predicted to experience a tremendous growth in revenue from $46.1 million in 2019 to over $246.1 million by 2027. The implementation of 5G in the telecom sectors required constant support and initiatives on the government’s behalf. This along with enhancement in the telecom network structure and the rules & regulations to connect with present times is further expected to drive the growth of the sub-segment.

Regional Analysis

The North America region is one of the fastest growing regions in the network slicing market and is predicted to gain revenue of $410.3 million by 2027. This region has been adapting and utilizing latest technological advancements along with implementing IoT, smart devices, and more into their market. Many organization have also been using network slicing to ensure that the 5G network works smoothly especially for business processes.

Key Players of the Market

The report contains a list of notable market players who have been ensuring the constant growth of the market. They are as listed below:

1. Nokia
2. Parallel Wireless
3. Mavenir
4. Tambora Systems
5. Cisco Systems
6. Huawei
7. Affirmed Networks
8. Argela
9. BT 2020
10. NTT Docomo Inc

For instance, in May 2021, Parallel Wireless, Inc, an expert in the providing network on all spectrums achieved a breakthrough. The company was able to provide All G, and an Open RAN solution to all six continents including the rural areas. This has ensured that a majority of them are provided with wireless network allowing them to stay connected.

The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Enquiry for Short-term and Long-term Impacts of COVID-19.

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Mr. Abhishek Paliwal
Research Dive
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