Network Slicing Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Network Slicing Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Network Slicing Market was valued at USD 143.63 billion in 2020 and is expected to reach USD 446.33 billion by 2026, at a CAGR of 20.8% over the forecast period 2021 - 2026. According to GSMA, network slicing, in combination with other enablers and capabilities, will aid operators to address a revenue opportunity worth USD 300 billion by 2025. Key Highlights5G networks, in combination with network slicing, allow business customers to enjoy connectivity and data processing that are tailored to the specific business requirements and adhere to a Service Level Agreement (SLA) as agreed with the mobile operator. Customizable network capabilities include data speed, latency, quality, security, and services. Thus as demand for high-speed network coverage is progressing, it will open new avenues for the market.5G is struggling to keep pace in emerging economies due to low bandwidth and lack of infrastructure. For instance, India's smart city initiative launched two years ago has struggled to make significant progress. Beyond the numerous local regulatory and structural challenges, there has not been enough spectrum or even the right spectrum bands available for the smart city vision to be realized.Key Market TrendsHealthcare Sector to Dominate the Market Millions of medical devices from at-home clinical diagnostic equipment to hospital-based multimillion-dollar imaging systems, increasingly demand connectivity as a key value-added feature. Ericsson estimates USD 76 billion revenue opportunity in 2026 for operators addressing healthcare transformation with 5G. It will enable many new approaches in the healthcare sector, in terms of imaging, diagnosis, and data analytics. For instance, hospitals could arrange remote robotic surgeries, as if the surgeon is right next to the patient, using virtual reality via a customized 5G network slice. It can also be used in medical data management by maintaining electronic health records or introduction of ambulance drones. It is forecasted by European Telecommunications Network Operator’s Association that number of IOT connections in healthcare will reach 10.34 billion by 2025. Asia-Pacific to Witness the Highest Growth APAC is expected to grow at the fastest rate owing to the development of network infrastructure and 5G being the biggest telecom trend. ZTE, a provider of telecommunications, enterprise and consumer technology solutions for the mobile internet, and China Mobile announced its 5G Oriented future network architecture design concept and network slice prototype system in December 2018. The biggest example of network readiness is expected to seen in 2020 Tokyo Olympics where 360-degree, 8K video streams will be showcased across high-resolution devices. In China, Ericsson is already working with AstraZeneca on 5G-enabled medical devices that support predictive maintenance. 5G’s network slicing capabilities will allow telcos to offer critical service providers their own private 5G networks for secure and real-time connectivity to the cloud, helping to meet their ever-evolving infrastructure needs and improve operational efficiency.Competitive Landscape The market is fragmented with players collaborating with each other to provide required availability, a specified latency, data rate and security. Network slice management solutions can also help carriers implement network slice lifecycle management in the preparation of 5G. May 2019 - The China Media Group, China Mobile, and Huawei successfully completed the first UHD live streaming verification through a real end-to-end 5G network slice. This is also the industry's first live streaming slice on the 3GPP-compliant 5G SA network. March 2019 - Ericsson collaborated with AT&T to deploy the world’s first lifecycle management based on ONAP software for network slices at various enterprise locations. One of the key accomplishments of this demonstration was to ensure the robustness of both the infrastructure and ONAP elements while demonstrating network slices at the same time. Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Please note: The report will take approximately 2 business days to prepare and deliver.