Network slicing Market to Soar in the Near Future Owing to Growing Consumer Adoption

Network slicing is the process of establishing multiple distinct virtualized and logical networks across a shared multi-domain infrastructure. Mobile network operators can quickly create network slices to support a specific application, set of users, service, or network by leveraging network functions virtualization (NFV), software-defined networking (SDN), orchestration, automation, and analytics. The use of network slicing allows a single network to provide a variety of services based on the needs of the user as well as various use cases. It also assists network operators in lowering operating expenses (OPEX) and capital expenditures (CAPEX), as well as improving operational efficiency and time to market for network service delivery.

On the basis of component, the solution segment exhibited the highest growth in the network slicing market in 2019, and is expected to maintain its dominance in the upcoming years, due to the increase in adoption of network slicing solutions by communication service providers to significantly accelerate the time for delivering new applications and services. In addition, the market players are introducing advanced network slicing solutions to serve various needs of their customers. However, the services segment is expected to witness the highest growth, due to an extensive adoption of deployment and integration services among end users, as it ensures effective functioning of network slicing solution throughout the process.

The telecom operators segment dominated the global network slicing market share by end user in 2019 and is expected to maintain its dominance in the coming years, owing to the increasing demand for better speed and bandwidth connectivity to serve customer needs. Furthermore, leading telecom operators around the world are actively collaborating with network solution providers to test the capabilities of network slicing technology. However, the enterprise segment is expected to grow the fastest, owing to the demand for robust network solutions to boost enterprise productivity.