Network Slicing Market Trend to Reflect Tremendous Growth of $921.02 Million With A CAGR of 23.7% by 2027
There is rapidly growing investments in 5G infrastructure across the region to facilitate an array of new services for consumers, by driving economic growth.
WILMINGTON, DE, UNITED STATES, October 19, 2023 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Network Slicing Market By Component, Type, Application, End User, Industry Vertical, and Region: Opportunity Analysis and Industry Forecast, 2020-2027,”
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.
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The growth of the global network slicing market is mainly driven by factors such as increase in demand for next generation 5G network to enable better speed and bandwidth capabilities; rise in use cases of network slicing for Industry 4.0; and development of smart cities and smart services. In addition, rise in demand for network performance due to growth in mobile data-traffic volumes fuel the demand for network slicing. Moreover, the proliferation of software-defined networking (SDN) and network function virtualization (NFV) are projected to drive market growth.
However, security concerns associated with network slicing are expected to hamper the market growth to some extent. On the other hand, emerging applications across government, industrial, and enterprises sectors expected to provide lucrative opportunities for the market growth during forecast period. Also, rise in adoption for remote surgery and autonomous vehicle is anticipated to be opportunistic for the market growth during the forecast period.
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Competitive Analysis:
The competitive environment of Network Slicing Industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, Network Slicing Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Key Players:
Affirmed Networks Inc.
Argela Technologies
Cisco Systems Inc.
Hewlett Packard Enterprise
Huawei Technologies Co., Ltd.
Mavenir
Nokia
Samsung
Telefonaktiebolaget LM Ericsson
ZTE and Many More
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The report focuses on the growth prospects, restraints, and trends of global virtual meeting software market analysis. The study provides Porter’s five forces analysis 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 global virtual meeting market.
According to the CXOs of leading companies, the network slicing market is going through enormous transformation and growth. Network slicing has become the network operators’ answer to build as well as manage a network to meet emerging requirements from a wide range of enterprises. In recent times, the market has experienced an exponential growth as the network slicing has provided an opportunity for service providers to offer distinguished slice-based services on a per-use-case basis as well as it has provided enterprises with slice-level control and the essential mechanisms to self-provision connectivity. In addition, there has been an increase in adoption of network slicing owing to rise in deployment of 5G, as the communication service providers (CSPs) are looking to use network slicing to sell value-added digital services.
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