Network Slicing Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Network Slicing Market
The network slicing market size was valued at USD 759.0 million in 2023, and the market is now projected to grow from USD 1126.5 million in 2024 to USD 23,198.1 million by 2032, exhibiting a CAGR of 46.0% during the forecast period of 2024-2032.
The COVID-19 pandemic led to growing call for broadband offerings in companies such as telecom, IT, healthcare, and retail, driven via mobile networking and far flung get entry to. As companies reopen, conversation provider companies are prioritizing 5G rollouts and making an investment greater in this platform.
5G networks provide more bandwidth and velocity than earlier mobile networks. It enables the constructing of digital networks with customizable latency, safety, bandwidth, dependability, provider tiers, and insurance. As an end result, this platform is projected to plays an enormous role in the network slicing market growth.
The Internet of Things (IoT) and Machine-to-Machine (M2M) conversation networks are connecting systems, appliances, and devices, revolutionizing industries. IoT programs require network reducing to feature successfully, including low-latency, high-strength programs like cellular video surveillance and long-variety, low-latency, low-energy programs like smart factories and cities.
Comprehensive Analysis of Network Slicing Market
The market is divided into large enterprises and small & medium enterprises, with large enterprises leading due to initial adoption and increased 5G network usage. Small & medium enterprises are expected to grow due to productivity and cost-effectiveness. Healthcare holds the highest share due to remote monitoring and surgery applications. Media & entertainment is expected to grow at the highest CAGR due to reduced latency and the benefits of 5G for remote broadcasting.
The North America region lead the network slicing market share by benefitting a market size of USD 280.3 million in 2023 due to North America is a technologically sophisticated region with several countries that rapidly adopt new innovations. The region is an early user of 5G services, including augmented reality, virtual reality, autonomous driving, and artificial intelligence. Furthermore, government measures to expand 5G communication infrastructure in the area are driving the industry.
Major players such as Samsung (South Korea), Nanjing ZTE Software Co., Ltd. (China), Intel Corporation (US), Amdocs, Inc. (US), Nokia Corporation (Finland, Telefonaktiebolaget LM Ericsson (Sweden), VMware Inc. (U.S.), Mavenir Systems, Inc. (U.S.), Affirmed Networks (U.S.), and Tambora Systems Ltd. (India) are among the market leaders offering innovative solutions to clients. They aim to enhance their product portfolio by offering flexible and distinctive solutions. The organizations aspire to improve their product offers through cooperation, partnerships, and acquisitions.
In February 2024, Ericsson, BT Bunch, and Qualcomm Advances, Inc. demonstrated end-to-end 5G network slicing for both enterprises and consumers. Ericsson's 5G Center and Radio Access Network Technology help organize innovation inside the IJK.
Segmentation Table
Attribute Details
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 46.0% from 2024 to 2032
Unit Value (USD Million)
Segmentation By Enterprise Type
Large Enterprises
Small & Medium Enterprises
By End-user
Healthcare
Government
Transportation & Logistics
Energy & Utilities
Manufacturing
Media & Entertainment
Financial Services
Others (Retail, Agriculture, IT & Telecommunication)
By Region
North America (By Enterprise Type, By End-user, and By Country)
- U.S. (End-user)
- Canada (End-user)
- Mexico (End-user)
South America (By Enterprise Type, By End-user, and By Country)
- Brazil (End-user)
- Argentina (End-user)
- Rest of South America
Europe (By Enterprise Type, By End-user, and By Country)
- U.K. (End-user)
- Germany (End-user)
- France (End-user)
- Italy (End-user)
- Spain (End-user)
- Russia (End-user)
- Benelux (End-user)
- Nordics (End-user)
- Rest of Europe
Middle East & Africa (By Enterprise Type, By End-user, and By Country)
- Turkey (End-user)
- Israel (End-user)
- GCC (End-user)
- North Africa (End-user)
- South Africa (End-user)
- Rest of Middle East & Africa
Asia Pacific (By Enterprise Type, By End-user, and By Country)
- China (End-user)
- India (End-user)
- Japan (End-user)
- South Korea (End-user)
- ASEAN (End-user)
- Oceania (End-user)
- Rest of Asia Pacific
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