5G Network Slicing is a new concept in 5G that is expected to revolutionize wireless connectivity and has the capacity to enable entirely new business models.
A 5G Network Slice gives the customer dedicated resources throughout the network, if needed, on the underlying shared RAN, transport layer and core.
It could be considered as a Virtual Private Mobile Network, with its own Lifecycle, guaranteed SLA’s and strict isolation from other slices for security.
For customers this represents an important alternative to a pure Private Mobile Network, where all physical resources are owned and managed by the customer.
For Mobile Network Operators this offers a new and important possibility to monetize the 5G network.
Network slices can be deployed and deleted on demand and new services can be brought to market in a matter of hours.
User devices can be be part of multiple slices at the same, which allows to receive the correct user experience for disparate applications.
It is expected that 5G Network slicing will increase to a global revenue of around 24 billion $ by 2028.