- Network slicing is the complete separation of several virtual networks that function on the same hardware or a system for different purposes, services, or applications. Functions such as coverage, speed, connectivity, and capacity. Every network slice has its private architecture, security, and provisioning management that supports a particular application or use case.
- Some use cases or applications such as machine-to-machine communications (either in logistics or manufacturing), mobile broadband, and smart cars are likely to benefit from leveraging different features of 5G technology.
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Impact of Coronavirus (COVID-19) on the Network Slicing Market
Lockdowns across major regions (Europe, Asia, and North America) due to an increase in the spread of Coronavirus (COVID-19) positively impacts the network slicing market. Growing demand for broadband services through mobile networks and increasing remote access services across various industries (healthcare, retail, IT & telecom, etc.), is expected to result in a significant rise in deployment of wireless networking services for the years 2020 and 2024, which is expected to impact positively on the network slicing market.
Increasing Mobile Data Traffic to Drive the Global Network Slicing market
- Data traffic is increasing due to growth in Augmented Reality (AR), IoT, Virtual Reality (VR) technologies, voice applications, smartphones, and video and audio content, which is driving the demand for higher network bandwidth to manage data traffic.
- Increasing use of gaming, social media, live streaming, and video boosts the use of mobile networks. Currently, industries are moving toward 5G, which would increase the data transformation speed of mobile networks in real time. Increase in mobile data traffic fuels the demand for small cell 5G network. 5G-ready small cell networks play a key role in improving mobile coverage and capacity.
- Increasing demand for connected devices such as wearable-smart devices or communication, also boosts the network slicing market.
- Impact of this driver is expected to be high during the forecast period. Adoption of network slicing is increasing across the globe, owing to increasing mobile data traffic. This is expected to boost the global network slicing market in the next few years.
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Lack of Allocation of Network Resources Expected to Hamper the Network Slicing Market
- One of the significant concerns of 5G network providers is how to distribute network resources to capitalize their benefits. In this regard, the management of network slicing is a serious issue. 5G network providers are focusing on developing virtual network functions and allocating proper network resources quickly to help build network slices.
- Impact of this restraint is expected to be moderate during the forecast period. Adoption of network slicing is expected to be hampered across the globe, owing to lack of allocation of network resources.
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North America to Account for Major Share of the Global Network Slicing Market
- In terms of region, the global network slicing market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is anticipated to account for major share of the global network slicing market during the forecast period due to increasing demand for large and high-speed network coverage along with upsurge in the number of IoT-based devices Europe is expected to follow North America in terms of share of the global network slicing market from 2020 to 2030.
- The market in Asia Pacific is projected to expand at a rapid pace during the forecast period due to growing mobile data traffic, specifically in India, Japan, and China.
Key Players Operating in the Global Network Slicing Market Include:
- Parallel Wireless, Inc.
- Huawei Technologies Co., Ltd.
- Cisco Systems, Inc.
- Telefonaktiebolaget LM Ericsson
- SK Telecom
- NTT DOCOMO
- Nokia Corporation
- ZTE Corporation
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