According to a recent report by Reports and Data, the global Network Slicing Market is predicted to reach USD 1,909.5 million by 2030, with a revenue Compound Annual Growth Rate (CAGR) of 24.9% over the forecast period. The primary driver of this growth is the rapid increase in mobile data traffic volumes. Industry 4.0, automation, and digitalization have resulted in the adoption of mission-critical business applications across various sectors, leading to digital transformations in many industries. In order to support these transformations, businesses require a robust network. Network slicing, a technology that offers tailored, dedicated, and logically isolated network services based on diverse needs of distinct vertical industries, has become essential for this purpose.
The network slicing market is expected to expand due to the rise in adoption of network slicing to solve issues related to mobile data traffic. Additionally, the increasing number of Internet customers and government assistance is expected to drive market growth. Strategic partnerships and expansions among market players are also expected to contribute to market expansion.
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Network slicing is a crucial aspect of 5G technology and is expected to continue in future 6G networks to ensure the delivery of various quality of service. However, effective Radio Access Network (RAN) slicing is challenging to scale up due to time-varying network situations and limited spectrum availability, which could potentially hinder revenue growth for the global market.
Driving factors of Network Slicing Market
- Rapid increase in mobile data traffic volumes
- Industry 4.0, automation, and digitalization leading to the adoption of mission-critical business applications across various sectors
- Businesses requiring a robust network to support their digital transformation journey
- Technological breakthroughs and developing ecosystems allowing for the introduction of new commercial applications in various industries
- Network slicing offering tailored, dedicated, and logically isolated network services based on diverse needs of distinct vertical industries
- Increasing number of Internet customers
- Government assistance in promoting the adoption of network slicing
- Strategic partnerships and expansions among market players.
Some of the notable innovations in the Network Slicing Market
- Cloud-native network slicing solutions: Cloud-native solutions enable network slicing to be deployed in a more flexible and agile manner, allowing for easier scaling and more efficient use of resources.
- Artificial Intelligence (AI) and Machine Learning (ML) integration: AI and ML technologies are being integrated into network slicing solutions to enhance network automation and optimization, improving the overall user experience.
- End-to-end network slicing: End-to-end network slicing solutions offer a comprehensive approach to network slicing that includes all aspects of the network, from the core to the edge, providing greater control and customization for network operators.
- Network slicing-as-a-service: Network slicing-as-a-service (NSaaS) is a cloud-based service that allows enterprises to create their own virtual networks with customized network functions and service level agreements (SLAs), without the need for large upfront investments in infrastructure.
- Blockchain-based network slicing: Blockchain technology is being explored as a potential solution for ensuring secure and efficient management of network slicing resources and services, enabling greater transparency and trust in the network slicing ecosystem.
Key companies profiled
Telefonaktiebolaget LM Ericsson, Microsoft Corporation, ZTE Corporation, Hewlett Packard Enterprise Development LP, Cisco Systems, Inc., Huawei Technologies Co., Ltd., Samsung Electronics Co., Ltd., Tambora Systems Ltd., Ciena Corporation, and AMDOCS.
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