Automation that is integrated in our day to day life is now getting structurally changed through network slicing. The network for virtual architecture, where software-defined networking (SDN) and network functions virtualization (NFV) share the same branches in virtualization technologies, is now being improved with network slicing to enhance software based automation. However, the network slicing helps in creating several virtual networks at the beginning of the shared physical infrastructure. The main objective of including network slicing was to enhance efficiency, to address the cost imposed, and to make it flexible as per the future requirement. With the collaboration of industries through advanced mobility, cloud integration and broadband network has given boost to network slicing with a network already set by 4G/LTE networks.
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The technology of SDN and virtualization will revolutionize how agriculture sector work, with the primitive shackles broken into customized elements that will be connected together for better and effective working. The service providers need to face various network performance characteristics as a primary technical challenge. However, flexibility can be attained through balanced cost implementation.
NETWORK SLICING MARKET DYNAMICS
The propelling demand for high speed, a volume of data and large network coverage are driving the global network slicing market. Widespread adoption of IoT and continuous advancements in Machine-to-Machine (M2M) communication networks are transforming various industries by connecting all types of devices, appliances, systems, and services. IoT is one of the many use cases that network slicing-enabled 5G would support, enabling communication between large numbers of sensors and connected devices. The requirements for IoT applications can be categorized into high-power, low-latency applications (such as mobile video surveillance); and low-power, low-latency, long-range IoT applications (smart cities and smart factories). The evolution of the 5G technology is expected to gain pace to support these requirements for emerging IoT applications, categorized as massive machine type communication and mission-critical applications.
COVID 19 IMPACTS ON NETWORK SLICING MARKET
The COVID-19 outbreak has affected every segment of society, including individuals and businesses. During the COVID-19 pandemic, the telecom sector is playing a vital role across the globe to support the digital infrastructure of countries. Every individual and government, irrespective of federal, state, central, local, and provinces, has been in constant touch with one other in the society to provide and get real-time information on covid. Currently, healthcare, telecommunication, media and entertainment, utilities, and government institutes are functioning day and night to stabilize the condition and facilitate prerequisite services to every individual.
COVID-19 cases are growing day-by-day, as several infected cases have been on the rise. In line with individuals, COVID-19 has a massive impact on large enterprises and SMEs. Core industries, such as manufacturing, automotive, textile, transportation and logistics, travel and hospitality, and consumer goods, have been closed due to country-level lockdown across the globe. This would have a substantial impact on the global economy in terms of the decline in GDP. Since ages, SMEs are acting as the backbone of the economy. In the current situation, SMEs are the most affected due to the COVID-19 pandemic.
NETWORK SLICING MARKET SEGMENTAL OVERVIEW
The report analyses the Network Slicing market based on network, service, implementation, application, vertical and geography.
NETWORK SLICING MARKET BY NETWORK
Based on network, the market is bifurcated into software defined network and cloud access network. The software defined Network (SDN) is forecasted bring highest CAGR. Software Defined Network (SDN) and Network Function Virtualization (NFV) technologies are believed to play an important role in the Network slicing market. It will also benefit various industrial segments and manage them efficiently. Slicing can also enhance bandwidth requirement or latency through myriad characteristics. The investments in IoT market have already been exceeded, whereas investments in digital industrialization have the power to make billion in the coming year by using these technologies.
NETWORK SLICING MARKET BY SERVICE
The market is segmented as professionals and managed. Network slicing market operates by slicing a physical network into several logical networks. Network slicing supports the real-time services for application by using the same physical network. Along with network slicing, other network resources can efficiently be allocated to logical network slices accordingly to maintain the required quality of service (QoS). Industry 4.0, automation, and digitalization have dramatically changed the adoption of mission-critical business applications in every line of business. Most sectors have undergone a digital transformation to cope with the growing need of customers and businesses for operational agility. Businesses are in dire need of having a strong network that can support their digital transformation journey. Technological advancements and the evolving ecosystem have further paved the way for the emergence of new business applications across different sectors.
NETWORK SLICING MARKET BY IMPLEMENTATION
The market is bifurcated into real-time surveillance and remote function virtualization. The market is segmented as Real time surveillance and Network function virtualization. Network function virtualization is forecasted to be a faster growing implementation type in this market, because of its reduced power efficiency feature and enhanced physical space.
NETWORK SLICING MARKET BY VERTICAL
Healthcare sector is creating dominance in the forecast period. 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. 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 generate revenue like anything.
NETWORK SLICING MARKET BY GEOGRAPHY
Geographically, the Network Slicing Market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and Rest of the world regions which includes Latin America, and Middle East & Africa. APAC has several growing economies, such as China, India and Japan, which are expected to register high growth in the network slicing market. These countries have always supported and promoted industrial and technological growth. In addition, they possess a developed technological infrastructure, which is promoting the adoption of network slicing solutions across all industry verticals. The network market in APAC is driven by the growing acceptance of cloud-based solutions, emerging technologies such as the IoT, and big data analytics and mobility. APAC is one of the biggest markets for connected devices
NETWORK SLICING MARKET KEY PLAYERS
Some of the vital players operating in this market include Nokia (Finland), Ericsson (Sweden), Huawei (China), ZTE (China), Samsung (South Korea), Blue Planet (US), Parallel Wireless (US), Affirmed Networks(US), Mavenir(US), Argela(Turkey), Cisco(US), HPE(US), Tambora Systems(Singapore), AMDOCS(US) and Aria Networks(UK)
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