Network slicing is the process of establishing numerous distinct virtualized and logical networks on a shared multi-domain infrastructure. Mobile network operators may quickly design network slices to support a given application, set of users, service, or network by leveraging network functions virtualization (NFV), software-defined networking (SDN), orchestration, automation, and analytics. The usage of network slicing allows a single network to provide a variety of services based on the needs of the user as well as distinct 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 sector dominated the global network slicing market share by end user in 2019 and is likely to maintain its dominance in the coming years, owing to the increasing demand for higher speed and bandwidth connection to suit customer needs. Furthermore, top telecom operators throughout the world are actively collaborating with network solution suppliers to explore the possibilities of network slicing technologies. However, the enterprise market is predicted to grow the fastest, owing to the demand for robust network solutions to boost enterprise efficiency.
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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