5G Slicing To Generate $20 Billion Market Revenue By 2024

5G Slicing To Generate _20 Billion Market Revenue By 2024-01

5G slicing is a key enabler of innovative business models and a critical concept to empower the potential of 5G connectivity.

In this digital era, communications service providers (CSPs) could slice their network assets via different criteria – including mobility, security, and traffic types. Using network slicing, CSPs can provide varied service levels of network availability, latency, throughput, security level, and many other performance indicators.

This forms the groundwork for a more flexible, controllable connection setting without changing the underlying properties of the infrastructure – which provide raw network capabilities.

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As a result, a complete slicing mechanism is projected by 2024, and at that point, 5G slicing will generate almost $20 billion market revenue – reveals a recent ABI Research study. Basically, there are various business drivers for 5G slicing –

  1. New solutions that could be deployed with little/ no disruption to existing services
  2. Network verticals can optimize network competency with a potentially lower cost
  3. 5G slicing allows vertical partners to bring a wider range of business services based on network slices to the market

Indeed, service agility is a challenge with the current network environment. Thus, such 5G-based business services are often customized in line with the required service-level agreements (SLAs) as well as network key performance indications (KPIs).

Amid the pandemic, the shared network infrastructure is utilized across different 5G slices, promoting better resource utilization. Besides, this can also reduce integration scope as well as complexity.

The widespread scope of hat 5G slice deployment requires the extensive maturity of the marketplace. In its essence, vendors increasingly invest in propelling ecosystem cohesion while bulking up their 5G slicing abilities.

For instance, Amdocs, Nokia, Huawei, and Ericsson are some of the technology vendors that are designing 5G slice-centric packages that offer combined effect with their existing systems and networks.

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Certainly, an entire 5G slicing mechanism will involve inter-operations with several existing systems among multiple vendors. Ultimately, the global deployment of 5G slicing requires the industry to re-adjust traditional ways of doing business for including knowledge of the enterprise environment.

The industry experts believe 5G slicing is a drive for the whole industry, and the foundation for primary use cases has already been recognized. For instance, the same vendor 5G slicing, as well as campus/LAN deployments, are most likely to be commercialized in the next few years.

In this context, Don Alusha, Senior Analyst at ABI Research, concludes – “Multi-vendor implementations and WAN type deployments are more challenging. These capabilities will potentially be brought to market starting in 2023 and beyond, with a proliferation of 5G standalone core deployments, investment in edge computing to develop low-latency use cases, and further industry consensus on how terminals can support network slicing.”

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