Network Slicing Market is Expected to Reach $893.1 Million by 2027, at a CAGR of 15.2%

(IT-NEWSWIRE.COM, August 09, 2022 ) The steady growth of the network slicing market is mainly attributed to the rising need for low latency, significant growth in mobile data traffic volume, and the emergence of edge computing technology. Furthermore, the rising adoption rate of IoT technology and growing investment in 5G network are creating new growth opportunities for vendors in the network slicing market. However, the growing security risks associated with network slicing infrastructure and lack of awareness about network slicing solutions pose serious challenges to the adoption of network slicing solutions.

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.

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Scope of the Report:

Network Slicing Market, by Component

Solutions
Services
Professional Services
Consulting Services
System Integration Services
Network Planning and Optimization Services
Managed Services
Network Slicing Market, by Application

Remote Monitoring
Supply Chain Management
Asset Management
Real-time Streaming
Network Monitoring
Multimedia
Other Applications
Network Slicing Market, by End User

BFSI
Manufacturing
Healthcare
Energy & Utilities
Automotive
Media & Entertainment
Transportation
Retail
Other End Users
Network Slicing Market, by Region

North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
South Korea
Japan
India
Rest of Asia-Pacific
Latin America
Middle East & Africa

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North America: A Significantly Growing Regional Market

In 2020, Asia-Pacific commanded the largest share of the network slicing market, followed by North America, Europe, Latin America, and the Middle East & Africa. The market in North America is expected to witness rapid growth during the forecast period, mainly driven by the increasing adoption of technologies, such as cloud computing, network function virtualization, and IoT. Besides, the rapid proliferation of 5G devices, growing subscriber bases, favorable government policies and regulations, and demand for broadband services across North America are expected to boost market growth considerably over the coming years.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key strategic developments by the leading market participants in the network slicing industry over the last four years. The key players 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.), and Intel Corporation (U.S.).

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Network Slicing Market is Expected to Reach $893.1 Million by 2027, at a CAGR of 15.2%