On a component basis, the solution segment led the network slicing market in 2019 and is expected to maintain its dominance in the coming years, owing to increased adoption of network slicing solutions by communication service providers to significantly shorten the time it takes to deliver new applications and services. Furthermore, market participants are providing innovative network slicing solutions to meet the diverse needs of their clients. However, the services market is predicted to increase the most, owing to widespread acceptance of deployment and integration services among end users, which assures the successful operation of network slicing solutions throughout the process.
By end user, the global network slicing market share was dominated by the telecom operators segment in 2019 and is expected to maintain its dominance in the upcoming years, due to the increasing demand for better speed as well as bandwidth connectivity to serve customer needs. In addition, the leading telecom operators across the globe are actively partnering with network solution providers to test the network slicing technology capabilities. However, the enterprise segment is expected to witness the highest growth, owing to the demand for robust network solutions to enhance productivity among enterprises.
North America leads the network slicing industry due to its early adoption of 5G services such as autonomous driving, augmented reality (AR), virtual reality (VR), and artificial intelligence (AI). Furthermore, government measures for the development of 5G telecom infrastructure in the region are considerably supporting market growth. For example, in February 2019, the Federal Communication Commission (FCC) unveiled a strategy to promote 5G technology in the United States. This approach comprised crucial components such as upgrading existing telecom network infrastructure, releasing more spectrum into the market, and updating outmoded regulations and legislation. However, Asia-Pacific is predicted to increase at the fastest rate throughout the projection period, owing to widespread adoption of mobile devices in developing nations such as China and India.
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