Network Slicing Market Worth 302.2 Million USD by 2022
PUNE, India, November 14, 2017 /PRNewswire/ --
According to a new research 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", published by MarketsandMarkets™, the 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%.
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Browse 63 Market Data Tables and 54 Figures spread through 162 Pages and in-depth TOC on "Network Slicing Market"
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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.
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.
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The remote monitoring application area is expected to hold the largest market share in the Network Slicing Market during the forecast period
A 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. According to Cellular Telecommunications Industry Association (CTIA), a US trade association stated that 99.6% of the Americans now have access to 4G, which means, nearly every American can access the mobile broadband at speeds up to tens of Mbps per second. In terms of network slicing, universities and private industries are partnering together to examine some of the potential technologies. For example, the Polytechnic Institute of New York University (NYU-Poly) and Samsung have partnered together to study and develop projects for 5G slicing. This project aims at developing a smarter and less expensive wireless infrastructure using smaller and lighter antennas, with directional beamforming operating at a less-crowded mmWave spectrum
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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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