Network Slicing Market - Detailed Analysis of Current and Future Industry Figures till 2027 | Canon, eFileCabinet, Hyland Software, IBM, M-Files, Newgen, OpenText, Oracle, The Ricoh, Xerox

The global network slicing market size was valued at $172.56 million in 2019, and is projected to reach $921.02 million by 2027, registering a CAGR of 23.7% from 2020 to 2027. Network slicing is a process of creating multiple unique virtualized and logical networks over a common multi-domain infrastructure. With the use of network functions virtualization (NFV), software-defined networking (SDN), orchestration, automation, and analytics, mobile network operators can quickly create network slices to support a specific application, set of users, service, or network. The use of network slicing enables single network to offer various services based on the requirements of the user as well as various use cases. Also, it helps network operators to reduce operating expenses (OPEX) and capital expenditure (CAPEX) along with the improved operational efficiency and time to market for the delivery of network services.
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.

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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 dominates the network slicing market, as the region is early adopter of 5G services in areas such as autonomous driving, augmented reality (AR), virtual reality (VR), and artificial intelligence (AI). In addition to this, government initiatives for the development of 5G telecom infrastructure in the region is significantly fueling growth of the market. For instance, in February 2019, the Federal Communication Commission (FCC) announced a strategy to facilitate 5G technology in America. This strategy included key components upgrading the existing telecom network infrastructure, forwarding more spectrum into the market, and modernizing the outdated regulations and laws. However, Asia-Pacific is expected to observe highest growth rate during the forecast period, owing to the extensive adoption of mobile devices across the developing countries such as China and India.
The report focuses on the growth prospects, restraints, and network slicing market analysis. The study provides Porter’s five forces analysis of the network slicing industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the network slicing market trends.

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The network slicing market is segmented on the basis of component, type, application, end user, industry vertical, and region. On the basis of component, it is categorized into solution and services. Depending on end user, it is divided into telecom operators and enterprises. On the basis of industry vertical it is categorized into manufacturing, healthcare, automotive, media & entertainment, transport & logistic, BFSI, government and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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