Network Slicing Market Size to Surpass USD 24,231 Million by 2032 Due to the 5G Networks and IoT Integration

The Network Slicing Market is growing due to the rise of 5G, IoT advancements, and increased demand for machine-to-machine communications.

AUSTIN, TX, UNITED STATES, January 31, 2025 /EINPresswire.com/ -- The Network Slicing Market size was USD 756 Million in 2023 and is expected to reach USD 24,231 Million by 2032, growing at a CAGR of 47% over the forecast period of 2024-2032.

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Keyplayers:
Ericsson, Samsung, Nokia Corporation, Huawei Technologies, ZTE Corporation, Cisco Systems Inc., HPE, Mavenir Systems Inc., VMware, Affirmed Networks, Samsung, Amdocs, Inc., Intel Corporation, Hewlett Packard Enterprise, Tambora Systems Ltd.
Network Slicing Market Growth Driven by IoT and 5G Adoption

The network slicing market is growing due to the rise of IoT, AI, AR/VR, and M2M communications, alongside cloud service expansion. It accelerates productivity and ROI in sectors such as BFSI, healthcare, and e-commerce. Network slicing optimizes the 5G base station with an enhancement in utilization of up to 25% along with dynamic bandwidth allocation. It can also help in lowering CapEx by 30% and OpEx by 25%. With over 20 telecom operators launching network slicing globally and over 50 trials expected in 2024, the technology supports mission-critical IoT applications and enhances QoS.

Segment Analysis

By Enterprise type
The large enterprise segment dominated the network-slicing market in 2023, holding a significant 65% market share. This dominance is majorly driven by the extensive deployment of 5G networks and IoT solutions in large organizations, which require customized network services to support high volumes of users and data. Large enterprises are increasingly seeking to improve customer service by adopting these solutions, thus contributing to the sector's dominance.

Small and medium enterprises (SMEs) are expected to witness substantial growth during the forecast period, with a CAGR of 51%. While SMEs have been slower in adopting network slicing, their integration is increasing as they begin to understand its potential for improving productivity and reducing costs.

By End-Users
The Healthcare sector emerged as the leading revenue contributor in 2023, accounting for 21.6% of the market share. This demand is driven by the growing reliance of the healthcare industry on IoT, AI, and 5G technologies, along with the increased use of robotic surgeries and telemedicine. Network slicing optimizes dedicated connections for mission-critical healthcare applications to improve overall service delivery and patient care.
The manufacturing sector, however, is expected to witness the highest CAGR of 52.3% over the forecast period. The increasing adoption of factory automation and IoT solutions in manufacturing processes is likely to fuel demand for low-latency, high-reliability networks that network slicing can provide, significantly enhancing the efficiency and performance of manufacturing operations.

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Regional Analysis
The North American region led the network-slicing market in 2023, capturing a 34.5% revenue share. This dominance is primarily driven by the wide adoption of smartphones and the proliferation of internet services, fueling demand for more efficient solutions in networks. Key industry players such as Cisco Systems Inc., Mavenir Systems Inc., and Intel Corporation, along with continued innovation in network services, have significantly contributed to market growth in this region.

Asia Pacific is expected to experience the highest growth rate in the network slicing market, with a projected CAGR of over 50% during the forecast period. The region's extensive consumer bases in countries such as India and China are also driving demand for more advanced network services. The fast adoption of IoT and the general improvements in network infrastructure have made the Asia Pacific a prime region for network slicing solutions.

Recent Developments

In February 2024, Ericsson, BT Group, and Qualcomm Technologies completed the first end-to-end testing of enterprise and consumer applications connected across a commercial-grade 5G standalone network in the UK. This groundbreaking demonstration underlined the capabilities of 5G network slicing in supporting diverse applications.
In August 2023, T-Mobile launched its 5G network slicing beta, enabling developers to enhance video calling applications with improved network conditions, including higher uplink and downlink speeds, reduced latency, and enhanced reliability over T-Mobile's 5G standalone network. This initiative highlighted the growing interest in network slicing as a solution for optimizing user experiences across various industries.

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