Network Slicing Market expected to reach USD 302.2 Million USD by 2022

Posted on 2020-04-02 by MarketsandMarkets in Internet & Online, Semiconductors, Technology // 0 Comments

Northbrook, USA, 2020-Apr-02 — /EPR Network/ —The report “Network Slicing Market by Technology (SDN & NFV, and C-RAN), Service (Network Testing, Orchestration, Planning & Optimization), Application Area (Remote Monitoring, Real-Time Streaming, & Network Monitoring), and Region – Global Forecast to 2022″, The global network slicing market size is expected to grow from USD 112.3 Million in 2017 to USD 302.2 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 21.9%. The major forces driving the growth of the network slicing market include the increasing demand for broadband services over mobile networks, virtualization of networks, significant growth in the mobile data traffic volumes, and the rising demand for high-speed and large network coverage. Moreover, the rising adoption rate of Internet of Things (IoT) connected devices and agile networks are also expected to drive the market growth.

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The network planning and optimization segment is expected to be the fastest growing professional service in the network slicing market during the forecast period

Network planning and optimization is one of the important aspects in enabling the implementation of network slicing technologies. This service helps maximize the performance of the operators’ network infrastructure, so that they can deliver the best quality of experience to their customers and keep the Capital Expenditure (CAPEX) under control. Furthermore, it enables improved customer experience with better data throughput, lowers the Total Cost of Ownership (TCO), and reduces the client complaints with its advanced pre-emptive analysis service. Network planning services are inclusive of nominal cell planning, capacity dimensioning, Radio Frequency (RF) site surveys, frequency planning, and cell parameter planning. Whereas, network optimization services include making RF measurements and optimizing the network parameters to improve the network performance. Hence, the network planning and optimization segment is expected to be the fastest growing professional service in the network slicing market during the forecast period.

The remote monitoring application area is expected to hold the largest market share in the network slicing market during the forecast period

As global businesses are adopting the digital platforms, remote monitoring has become a crucial part in maintaining a competitive edge in the market. The remote monitoring application area is a cloud-based end-to-end monitoring technology that operates multiple machines from remote locations. The 5G network is said to be gaining traction across every industry and new possibilities are emerging, due to the improved addressal of solutions and extended security services, in addition to the higher bandwidth in the wireless communication link. 5G solutions represent a paradigm shift in the remote monitoring application and its tracking possibilities, enhanced with information transmission between the sensors. This paradigm shift helps in using remote monitoring in medical-grade wearables, virtual doctor-patient interactions, and remote operation of vehicles and surveillance, and remotely operated robotic surgeries. For instance, NTT DOCOMO collaborated with DeNA Co., Ltd. to enhance the safety of self-driving vehicles using remote monitoring and passenger assistance. In the trial, a vehicle and a remote center would be connected via a 5G network that boasts of ultra-high-speed data rates beyond 10Gbps, excess capacity, extra-low latency, and massive connectivity, compared to the existing mobile communication systems.

North America is expected to have the largest market share in the network slicing market during the forecast period

North America is expected to hold the largest market share and dominate the network slicing market during the forecast period. In this region, operators have heavily invested in 5G tests and trials. Initially, 5G was deployed to provide additional capacity and coverage in areas, where the Long Term Evolution (LTE) footprint was already present. In North America, the US is said to be leading the next-generation of wireless technologies. The US is the global leader of 4G LTE.

The major vendors in the network slicing market include Ericsson (Sweden), Huawei (China), Nokia (Finland), Intel (US), Cisco (US), ZTE (China), SK Telecom (South Korea), Deutsche Telekom (Germany), Telefónica (Spain), Samsung Electronics (South Korea), NTT DOCOMO (Japan).

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