Selbyville, DE -- (SBWIRE) -- 03/31/2020 -- Demand for network slicing in industrial IoT applications is expected to support network slicing market growth. Companies worldwide are leveraging IoT technology to streamline the operational efficiency and industrial processes. Taking 2019 for instance, ZTE Corporation completed the 5G network slicing trial in China.

Also, vehicles require high bandwidth for effective video streaming. Network slicing offers a common wireless infrastructure for both low latency and high bandwidth applications. It facilitates vehicles with real-time control, media streaming, and broadband connectivity. These application capabilities of network slicing are encouraging automakers to integrate this technology into their vehicles.

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Numerous testing initiatives and collaborative developments in 5G connectivity are facilitating the adoption of network slicing infrastructure across enterprises. Demand for industrial Internet of Things (IoT) solutions across enterprises has supported the technology's development. The need for high-speed broadband services over mobile networks is considerably contributing to the adoption of network slicing market growth.

Companies operating in this industry are focusing on developing innovative products that can offer customized virtual networks. They are launching new solutions that support network slicing and 5G connectivity. Taking an instance to highlight the same, in 2019, ZTE collaborated with Hutchison Drei Austria and introduced a 5G slicing service store in Europe. The company offered custom network slices, with real-time KPI monitoring and network optimizing capability.

Companies covered:
Affirmed Networks, Amdocs, Argela Technologies, Cisco Systems, Inc., Cloudstreet, HCL Technologies Limited, Huawei Technologies Co., Ltd., Mavenir, Nokia Corporation, Parallel Wireless, Inc., RedZinc Services Ltd., Telefonaktiebolaget LM Ericsson, and ZTE Corporation

Europe network slicing industry is expected to witness commendable growth from the developing healthcare sector. Companies operating in healthcare industry are looking for effective network slicing services, which will bolster network slicing market growth. The economic stability in Europe will encourage investments for research and development activities in healthcare technology for advancement of infrastructure.

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Industries worldwide are actively demanding for 5G network connectivity, generating new growth prospects in the network slicing market. For instance, self-driving vehicle manufacturers are adopting network slicing technology as these vehicles rely heavily on Vehicle-to-Anything (V2X) communication for effective functioning. Moreover, these vehicles demand high bandwidth video streaming capabilities.

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