According to a new report, published by KBV research, The Global Network Slicing Market size is expected to reach $19 billion by 2031, rising at a market growth of 50.2% CAGR during the forecast period.
The Services segment is registering a CAGR of 52.6% during (2024 - 2031). Network slicing services offer several advantages over traditional network solutions. One of the key benefits is flexibility. With network slicing, service providers can offer customized network configurations tailored to the specific needs of their customers. Another advantage of network slicing services is scalability. As businesses grow and their network demands increase, network slicing allows for the easy expansion of network resources. Network slicing services also offer improved efficiency.
The Communication Service Providers segment is leading the Global Network Slicing Market by End-user in 2023; thereby, achieving a market value of $14.4 billion by 2031. Network slicing has been gaining significant traction among communication service providers (CSPs) due to its ability to offer customized and flexible network solutions tailored to specific user needs. Network slicing enables CSPs to guarantee specific quality of service (QoS) parameters for different services, ensuring a high-quality user experience for customers. CSPs can offer specialized, premium services to enterprises and consumers, creating new revenue streams and increasing customer loyalty.
The Energy & Utilities segment is experiencing a CAGR of 51.2% during (2024 - 2031). Network slicing technology is used within the energy and utilities industry to address the unique networking requirements of utility providers, grid operators, renewable energy producers, and other stakeholders. The deployment of smart grids, which use digital communications and advanced monitoring and control technologies, is increasing. Network slicing can provide dedicated network resources for smart grid applications, ensuring reliable and secure communication between grid components.
Full Report: https://www.kbvresearch.com/network-slicing-market/
The North America region dominated the Global Network Slicing Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $6.6 billion by 2031. The Europe region is anticipating a CAGR of 49.7% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 51.3% during (2024 - 2031).
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