Network slicing market is poised to gain major impetus over the ensuing years on account of robust technological advancements along with increasing use cases of network slicing across several industries such as manufacturing, healthcare, retail, etc.
Speaking of the significance of network slicing, it is an essential part of 5G networks as it improves energy efficiency and enhances resource allocation. Apparently, in 5G networks, one physical network is often separated into various Radio Access Networks (RANs) and a single RAN can connect various services. This model allows 5G network operators to select the features for several capabilities such as traffic capacity, spectrum efficiency and connection density. Further, with network slicing, operators could allocate the appropriate amount of network resources to a specific slice. Moreover, network slicing can also provide quick data speeds, low latency and provide high throughput.
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5G communication network has gained considerable traction across various industries, resulting in massive adoption of network slicing. Automobiles are increasingly being integrated with advanced features to improve performance, connectivity, and functionality. For example, autonomous vehicles depend upon Vehicle-to-Anything (V2X) communication for effectual functioning and need low latency.
Also, vehicles require high bandwidth for effective video streaming. Network slicing offers a common wireless infrastructure for both low latency and high bandwidth applications. It facilitates vehicles with real-time control, media streaming, and broadband connectivity. These application capabilities of network slicing are encouraging automakers to integrate this technology into their vehicles.
Network slicing is gaining huge proceeds from its extensive adoption in the manufacturing sector due to the growing penetration of Industrial IoT solutions in the sector. This statement can be validated by a successful trial of 5G network slicing effectuated by ZTE Corporation in China in November 2019. For development of this technology, Zhejiang Bluetron and China Telecom have entered a partnership and have been working to improve the operational efficiency of industrial processes by integrating the 5G network with IoT sensors and mobile edge computing servers.
Rising adoption of wireless devices has intensified threats for cyber-attacks over wireless networks. Shared environment makes unauthenticated data restricted from one slice easily accessible from other shared resources. The cyberthreats increase security concerns and negatively impact the adoption of network slicing technology.
Meanwhile, ongoing 5G trials and collaborative developments for safe wireless network environment have persuaded enterprises to adopt network slicing technology. Massive demand for network slicing services has compelled several business participants to pursue various strategies to strengthen their foothold.
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Europe network slicing market is expected to witness commendable growth from the developing healthcare sector. Companies operating in healthcare industry are looking for effective network slicing services, which will bolster market growth. The economic stability in Europe will encourage investments for research and development activities in healthcare technology for advancement of infrastructure.
The network slicing market players include Ericsson, Huawei Technologies Co., Ltd., ZTE Corporation, and Nokia Corporation amongst others.
Major Key Points from Table of Content:
Chapter 5. Network Slicing Market, By Component
5.1. Key trends, by component
5.2.1. Network slicing market estimates and forecast, 2017 – 2026
5.3.1. Network slicing market estimates and forecast, 2017 – 2026
5.3.2. Training & consulting
18.104.22.168. Market estimates and forecast, 2017 – 2026
5.3.3. Integration & deployment
22.214.171.124. Market estimates and forecast, 2017 – 2026
5.3.4. Managed service
126.96.36.199. Market estimates and forecast, 2017 – 2026
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