The most recent study conducted by Report Ocean, titled “Global Network Slicing Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Network Slicing . The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Network Slicing Market was valued at 172.56 Million US Dollar in 2019 and expected to grow with a CAGR 23.7% during forecasting years. Network slicing has multiple slices each slice has its own topology, performance characteristics and security rules. In other way, Network slicing is also known as virtual network and each network slice provides a dedicated network resources that fulfill the need of specific application such as speed, bandwidth and latency.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Different slices devoted to different function. Network slicing empower new business opportunities for communication service providers across wide range of sectors. Network market growth gaining popularity due to cellular network technology which offer higher data speed and lower expectancy. Increase in volume of data supplied by cellular network technology has been led largely by consumer demand for video and shift the business towards Cloud services. It creates new revenue opportunities for communication service providers such as ability to deliver services faster with high security and flexibility. Growing adoption of SDN (software-defined networking) and NFV(network functions virtualization) solutions and surging adoption of IoT devices across different industry verticals, are key driven factors for the market growth.
Increasing adoption of IoT and rapidly advancement in machine to machine communication network which is used by many industries by connecting all type of appliances, devices, services and system which in turn, increasing adoption of 5G technology to support IoT applications. Despite that, data security concerns and lack of standardization hampers the global Network Slicing Market growth.
The regional analysis of the global Network Slicing Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe is Dominating the Market and continue to lead the market during forecasting years due to demand for better speed connectivity and bandwidth. APAC is the fastest growing market owing to growing acceptance of cloud -based solutions, IOT, Big data analytics and mobility.
Key Players in Global Network Slicing Market
Argela Technologies
Cisco Systems Inc.
Hewlett Packard Enterprise
Huawei Technologies Co., Ltd.
Mavenir
Nokia
Samsung
Telefonaktiebolaget LM Ericsson
ZTE
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Components:
Solution
Services
By End User:
Telecom Operators
Enterprises
By Industry vertical:
Manufacturing
Healthcare
Automotive
Media & Entertainment
Transport & Logistic
BFSI
Government
Others
By Region:
North America
U.S.
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Canada
Europe
UK
Germany
France
Spain
Italy
Asia Pacific
China
India
Japan
Australia
Rest of the World
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