The Latin America, Middle East and Africa Network Slicing Market would witness market growth of 53.7% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Network Slicing Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $398.6 million by 2031. The Argentina market is experiencing a CAGR of 54.6% during (2024 - 2031). Additionally, The UAE market would exhibit a CAGR of 53.2% during (2024 - 2031).
Network slicing is an unprecedented notion in the fields of networking and telecommunications, specifically in relation to fifth generation (5G) wireless technology. Essentially, network slicing involves partitioning a single physical network infrastructure into multiple virtual networks, or "slices," each tailored to specific use cases, applications, or customer segments.
These slices are essentially independent, logically isolated portions of the network with dedicated resources such as bandwidth, computing power, and storage. Each slice can have its unique characteristics, performance parameters, and service level agreements (SLAs), allowing for customization to meet the diverse requirements of different services and applications.
Saudi Arabia is a major contributor to the expansion of the market in LAMEA, especially in the digital health sector. According to ITA, the Saudi Government has allocated $1.5 billion for healthcare IT and digital transformation initiatives. The inauguration of the Seha Virtual Hospital in March 2022 further demonstrates Saudi Arabia's commitment to digital health, offering remote support to 130 hospitals nationwide and providing over 30 specialized services. This initiative is the largest e-health provider and the first in the Middle East, highlighting Saudi Arabia's leadership in digital health innovation. Thus, the regional market will expand rapidly owing to the aforementioned factors.
Free Valuable Insights: The Worldwide Network Slicing Market is Projected to reach USD 19 Billion by 2031, at a CAGR of 50.2%
Based on Offering, the market is segmented into Solution, and Services. Based on End-user, the market is segmented into Communication Service Providers, and Enterprises. Based on Vertical, the market is segmented into Healthcare, Transportation & Logistics, Energy & Utilities, Manufacturing, Media & Entertainment, Financial Services, Retail, Government, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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