Abstract: Aspects of present disclosure relate to a system and method for network traffic slicing for next generation network communications. The network traffic slicing can be enabled to secure a certain amount of capacity of a single network slice, irrespective of the other network slices that co-exist. In an aspect, the proposed system and method for network traffic slicing uses 3GPP (third generation partnership project or any cellular network like 3G, or 2G, or 4G, or 5G) and non-3GPP (comprises of WiMAX or WiFi wireless means) networks depending on the proximity of the two devices, which needs to communicate. Also, the system and method can be configured at a centralized network traffic controller or network device, which can be one or more combinations of a gateway device, routers, switches, servers etc. that can decide mode of communication for enabling communication between IoT devices (for e.g. static or mobile communicable devices) based on different parameters.