Dublin, Aug. 03, 2021 (GLOBE NEWSWIRE) -- The "Network Slicing Market by Component, Application (Remote Monitoring, Supply Chain Management, Real-time Streaming, Network Monitoring), End User (BFSI, Manufacturing, Healthcare, Automotive, Retail, Transportation), and Geography-Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The network slicing market is expected to reach $893.1 million by 2027, at a CAGR of 15.2% during the forecast period, 2020 to 2027.
The growth of this market is mainly attributed to factors such as the increasing demand for broadband services over mobile networks, rising need for ultra-low latency communication, significant growth in mobile data traffic volumes, and rising demand for high-speed and wide network coverage.
The study offers a comprehensive analysis of the network slicing market based on component, application, end user, and geography. The network slicing market is segmented based on component (solutions, services), application (remote monitoring, supply chain management, asset management, real-time streaming, network monitoring, multimedia, and others), end user (BFSI, manufacturing, healthcare, energy & utilities, automotive, retail, transportation, media & entertainment, and others), and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on component, the solutions segment emerged as the largest segment in terms of market share in 2020. The large share of this segment is mainly attributed to the rising demand for high-speed and wide network coverage, growing mobile data traffic volumes, and increasing need for ultra-low latency. Besides, benefits such as enhanced business agility, flexibility, scalability, and low-latency delivery of real-time applications further augment the growth of this segment.
Based on end user, in 2020, the healthcare segment commanded the largest share of the network slicing market. Growing investments in 5G, the proliferation of wireless medical devices, and the growing adoption of remote healthcare services are factors driving the growth of the healthcare segment. Besides, the growing use of telemedicine and remote monitoring in the wake of the COVID-19 pandemic has further highlighted the significance of network slicing solutions and services.
In 2020, Asia-Pacific commanded the largest share of the network slicing market. However, North America is expected to witness rapid growth during the forecast period. The rapid growth of this regional market is mainly driven by the increasing adoption of advanced technologies across a wide range of industries to counter the rising labor costs in countries such as the U.S. and Canada, supportive government initiatives across the region, and investments by major network slicing companies.
The key players operating in the network slicing market are
ZTE Corporation (China)
Cisco Systems Inc. (U.S.)
Ericsson AB (Sweden)
Affirmed Networks Inc. (U.S.)
Mavenir Systems Inc. (U.S.)
Huawei Technologies Co. Ltd (China)
Nokia Corporation (Finland)
Parallel Wireless Inc. (U.S.)
Amdocs Inc. (U.S.)
Intel Corporation (U.S.).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Market Insights
4.2. Market Dynamics
4.3.1. Emergence of Edge Computing Technology
4.3.2. Need for Ultra-Low Latency
4.3.3. Significant Growth in Mobile Data Traffic Volumes
4.4.1. Security Risks Associated with Network Slicing Infrastructure
4.5.1. Growing Investment in 5G Network Technology
4.5.2. Rising Adoption of IoT Technology
4.6.1. Misconceptions and Lack of Knowledge Regarding Network Slicing Solutions
4.6.2. Lack of Skilled Workforce
4.7.1. Integration of Edge Computing in Network Slicing
4.8. Impact of Covid-19 Pandemic on the Network Slicing Market
5 Network Slicing Market, by Component
5.3.1. Professional Services
126.96.36.199. Consulting Services
188.8.131.52. System Integration Services
184.108.40.206. Network Planning and Optimization Services
5.3.2. Managed Services
6 Network Slicing Market, by Application
6.2. Supply Chain Management
6.3. Remote Monitoring
6.5. Network Monitoring
6.6. Real-Time Streaming
6.7. Asset Management
6.8. Other Applications
7 Network Slicing Market, by End User
7.2. Healthcare Sector
7.3. Manufacturing Industry
7.4. Energy & Utility Sector
7.5. Automotive Sector
7.6. Media & Entertainment Industry
7.7. Transportation Sector
7.8. Retail Sector
7.9. BFSI Sector
7.10. Other End Users
8 Network Slicing Market, by Geography
9 Competitive Landscape
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
9.4. Market Share Analysis, by Key Player (2020)
10 Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
For more information about this report visit https://www.researchandmarkets.com/r/bdxxy8
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