The creation of multiple virtual networks over a shared common physical infrastructure is what network slicing enables. Sector-specific applications such as smart factories, smart homes, smart grid, and connected cars can be supported through the means of configuring each network slice (aka virtual network). Complementing the needs of specific applications such as speed, bandwidth, and latency Each network slice provides a dedicated set of network resources. The increasing demand for – broadband services over mobile networks, high-speed and large network coverage as well as significant growth in the mobile data traffic volumes, and virtualization of networks are few of the major factors that are driving the growth of Network Slicing Market. Further, the increasing adoption of agile networks and the Internet of Things (IoT) is also expected to propel the market growth during the forecast.
The area that is engaged in network planning and optimization is estimated to drive the network slice market faster than any other application. The ability to deliver the best quality of experience to the clients is ensured by the aforementioned area in the ICT segment simultaneously allowing them to keep a check on injudicious Capital Expenditure (CAPEX). With better data throughput and lowers the Total Cost of Ownership (TCO), this segment is an enabler of advanced pre-emptive analysis service resulting in reduced client complaints. Capacity dimensioning, cell parameter planning, frequency planning, nominal cell planning, Radio Frequency (RF) site surveys are the key competence of Network planning services. While in the case of network optimization of RF measurements and optimizing the network parameters to improve the network performance, thereby along with the aforementioned validating its contribution resulting in the surge of the network slicing market growth, faster than any other.
The market development pertaining to network planning and optimization segment
This year the launch of 5G Consulting portfolio and practice as well as the Carrier Consulting Services was announced at the Huawei Global Analyst SummitHAS 2020 in Shenzhen China this during the month of May. The objective intending to enable carriers to adjust to opportunities and challenges brought by new technologies, new business, and new models, and foster value creation to woo in new customers. The comprehensive consulting services and solutions which has ecosystem value-based operations, end-to-end network planning, operation optimization and reconstruction, product and offering designs, strategic predictions as well as top-level design within the ambit. These value-added services enable us to maximize investment benefits, achieve sustainable development, and positive business cycles.
Consulting services in the areas of 5G industry and service-network synergetic planning, 5G product and offering innovation, and large-scale 5G service development for carriers by extending close linkage with Huawei's profound professional knowledge, business design and network planning, DTPC innovation, as well as Cloud Open Labs platform. The aforementioned is offered by Huawei 5G Business-Network Synergetic Consulting.
The remote monitoring application to occupy a healthy market share of the network slicing market
From the perspective application, the area of remote monitoring is also another factor that is expected to hold the largest share in the network slicing market during the forecast period because of the sheer range of sectors that it finds its use in. Businesses around the globe are adopting various digital platforms wherein remote monitoring has become a crucial part of maintaining a competitive edge in the market. This application is enabled by cloud-based end-to-end monitoring technology with which multiple pieces of equipment could be operated from remote locations. The advent of 5 G network is estimated to have gained a lot of traction to an extent whereby every possible sector is inclined to adopt the same due to its enhanced security and higher bandwidth. This technology has brought about a paradigm shift in the remote monitoring applications and the possibility of tracking coupled with information transmission between the sensors, operating vehicles remotely, carrying out surveillance as well as surgeries.
With the advent of COVID-19, health systems that include various care points especially hospitals are witnessing an increasing influx of patients in Emergency Rooms (ERs) and Intensive Care Units (ICUs). This is further fueling their need to rely on health technology to stem the tide of infection simultaneously managing the COVID 19 patients. Therefore, to minimize staff exposure to the coronavirus concomitantly remaining competent to deliver quality care, there lies an urgent need for monitoring patients that enables healthcare workers to remotely monitor a patient’s condition. To this end may be noted in June 2020, RoyalPhilipshas been granted Emergency Use Authorization (EUA) by the US Food and Drug Administration (FDA) for its IntelliVue Patient Monitors MX750/MX850 and its IntelliVue Active Displays AD75/AD85, for use in the US during the COVID-19 health emergency. These two solutions received CE mark in 2029 are already in use by the hospital across Europe.
Again, in June 2020, a leading provider of unified endpoint management solutions that offers SaaS and on-premise solutions to secure, monitor, and manage all business endpoints, such as tablets, wearables, phones, desktops, and called 42Gears Mobility Systems Pvt. Ltd. has collaborated with Isansys Lifecare. With objective to improve patient care, drive clinical performance, ensure economic value and enhance patient safety, the latter provides remote monitoring solutions. This enables the supporting of healthcare teams around the world in the face of the pandemic, in a better manner by easing the administrative workload off the of medical staff. Besides the above, a pioneering developer of wearable, remote monitoring technology intended for academic studies, and drug trials called ActiGraph was acquired by ArchiMed, a Private equity healthcare specialist. ActiGraph’s mobility and sleep tracking hardware, software and analysis solutions are extensively employed research-grade monitoring systems. The aforementioned monitoring system watches and can be worn on the wrist, waist, thigh or ankle. Thus, in the light of the aforementioned developments across various sectors, the Network Slicing Market is estimated to grow exponentially during the forecast period.