The 5G Network Slicing Market is anticipated to expand at a high CAGR over the forecast period.
Various industrial sectors such as utilities, media & entertainment, manufacturing, government, and healthcare are heavily influenced by the emergence of 5G technology. It enables them to establish a reliable, fast, and flexible communication chain between customers and inter-departments. Hence, network slicing has formed an integral part of 5G technology as it addresses the tailored connectivity and data processing requirements of users.
Key players are investing in new launches and product innovations. For instance, in February 2024, Nokia showcased its “Multi-edge Slicing”. This offers premium slicing services across the 5G and 4G spectrum, thereby supporting several applications simultaneously. The breakthrough supports various devices such as smartphones, laptops, IoT devices, and gaming consoles.
Consequently, various developments across various industries can be witnessed. For instance,
5G technology has enabled smart grids to fully utilize modern information communication technologies, thereby improving their intelligence and informatization. The 5G services are beneficial in various differential protection, such as showcasing power transmission lines in 4K ultra-HD video, intelligently enhancing situation awareness for the power distribution network, distributed feeder automation, and load management at the millisecond level. Grid corporations of major nations such as China are collaborating with tech giants such as Huawei to implement 5G network slicing in their power grids.
Multimedia is one of the major areas with high growth potential for 5G network slicing. It assists in running multiple applications such as 4K ultra-HD multimedia live transmissions, video conferencing & calling. Hence, to bolster this experience, various phase testing and developments are taking place among major players. For instance, in February 2024, in the UK, Ericsson, in collaboration with BT Group and Qualcomm Technologies, demonstrated its end-to-end 5G Connectivity-enabled network slicing on Ericsson’s “5G Core”. The test was conducted on Snapdragon 8-powered devices and established network slicing for video conferencing and mobile gaming.
5G network slicing is promoting advancements in healthcare services, and with digitization and the Internet of Things (IoT) on the rise, the demand for high-speed network connectivity has accelerated. Advanced services such as telemedicine and real-time and critical care tracking deal with sensitive data crucial in smart healthcare (s-health). Adapting network resources to specific needs and autonomous assessment of network traffic are two major advantages of network slicing for smart health.
Hence, market players such as Ericsson are investing their efforts in optimizing this industrial opportunity with new launches, development, and forming strategic collaborations with healthcare facilities. For instance,
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DATE |
TYPE |
DESCRIPTION |
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October 2023 |
Collaboration/Demonstration |
Chunghwa Telecom, in collaboration with Ericsson, developed 5G connected ambulance services powered by Ericsson’s network slicing technology. The connected service would provide patients with real-time data and monitor their vital signs in 4K videos, thereby facilitating remote diagnosis |
The 5G network slicing market is segmented by technology into SDN-based and NFV. NFV deployment is expected to attain a major share during the forecasted period, owing to growing investments and partnerships by the market players.
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DATE |
TYPE |
DESCRIPTION |
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February 2024 |
Collaboration |
Ericsson, in collaboration with Telefónica, demonstrated a premium 5G network connection leveraging on enhanced network slicing. It would enable users to expand their limited subscription services through Telefonica’s dedicated network slices. |
The global 5G network slicing market consists of major countries undertaking various measures to secure their 5G network. Some major countries include the USA, Japan, South Korea, China, and Germany. The countries have undertaken various measures, complementing the overall market growth. For instance,
Some of the leading players in the market include Samsung, Ericsson, Cisco, and Nokia, among others. These companies have undertaken various business strategies such as product launches, investments, and partnerships to expand their product offerings. For instance,
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Growth Rate | CAGR during the forecast period |
| Study Period | 2019 to 2029 |
| Historical Data | 2019 to 2022 |
| Base Year | 2023 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered |
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| Companies Covered |
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| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Customization Scope | Free report customization with purchase |
The 5G Network Slicing market is segmented and analyzed as: