Network-as-a-Service Market Dynamics, Size by Players Forecast 2022-2027

Astute Analytica released a new research report on the global Network-as-a-Service Market. The worldwide Network-as-a-Service Market report 2030 is a thorough investigation that examines the current Network-as-a-Service Market trends. The report consists of market definitions, market segmentation, end-use applications, and industry chain analysis. In addition, it offers a succinct overview of the market. The study on the global market offers an overview of the market encompassing the competitive environment, current market developments, and industry trends.

According to the study conducted by Astute Analytica, the Global Network-as-a-Service Market was valued at US$ 15,326.9 Mn in 2021 and is projected to reach US$ 1,18,709.3 Mn by 2027. The market is expected to register a CAGR of 40.7% during the forecast period 2022-2027.

The competition study provides information about the major players in the Chinese market in terms of their financials, company profiles, product portfolios, and capacity. Along with the important development trends and sales channel research, the report also offers upstream raw material analysis and downstream demand analysis. The global research study also covers the investment opportunity areas.

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Significance of the Global Network-as-a-Service (NaaS) Market

Readiness towards the implementation and acceptance of advanced technology, strong research and development in the telecom industry, the surge in the number of cloud-based services and other factors are driving the Network as a Service (NaaS) market. The technology companies and the telecom service providers are embracing cloud platforms to reduce labor costs. Cloud deployment solutions allow enterprises to focus on their core competencies and strategic goals. With the appropriate use of NaaS offering, organizations can enhance the performance of their cloud applications. Large organizations, as well as SMBs, are rapidly deploying these services to reduce the costs related to the procurement of new devices and IT staff training. Hence, this will foster the deployment of NaaS, eliminating the need to maintain their complex network setup.

The SDN (Software Defined Network) adoption has also been increasing in campus and enterprise segment as the demand for the efficient and flexible networks is high. SDN solutions, in conjunction with Network Function Virtualization (NFV) and open-source technologies, are anticipated to gain traction in the NaaS industry.

Service providers who wish to expand their offerings for enterprise customers need to start looking into NaaS, as those customers seek to respond to dynamic business needs faster, identify additional ways to cut costs and have more control over their network. NaaS provides the solution and elevates the relationship between Communication Service Providers (CSPs) and their customers. CSPs can accelerate their network services transformation and reduce their investment by implementing field-proven technology from advanced software and services providers.

Challenges Ahead

In the present cloud computing scenario, most of the companies are adopting cloud services and allowing access to more remote users and devices compared to the past. Hence, data security and privacy concerns are likely to deter the progression of global network as a service market. Concrete measures for security are the need of the hour.

Impact of COVID-19

Covid-19 and the associated work from home opportunities for workers have caused small businesses to consider network-as-a-service. Cloud technology helps employees access the system and application from home. People staying at home has increased the usage of the internet. This has surged the demand for high-speed network connection. Moreover, the organizations around the world are preparing for a post-pandemic workplace by investing in networking technologies that support the changing needs of employees and that’s having a profound impact on the network. It appears COVID-19 is the problem NaaS solves.

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Regional Analysis

North America holds the highest market share in 2021

North America is projected to have the highest market share of 40% in the global network-as-a-service market in 2021. In North America, the US majorly contributes to the market growth in the region, with a share of 82.6% in 2021. This is owing to the early adoption of advanced technology solutions as well as prominent initiatives taken by industry players through partnerships with various technology players. Moreover, the penetration of cloud computing, advanced IT infrastructure, and higher concentration of the network virtualization solution vendors are expected to drive the NaaS adoption in the region. Technology services generates majority of the revenue in the network-as-a-service industry in North America, contributed 57.1% share in the regional market during the forecast period.

UK holds the major share in the European NaaS Market

Europe network-as-a-service market holds a modest share of 25.5%, in the global network-as-a-service market in 2021. Moreover, the Europe network-as-a-service industry is mainly driven by IT & telecommunication industry.

Asia Pacific is projected to register the fastest CAGR during the forecast period

China held the major share of in the Asia Pacific network-as-a-service market in 2021. Wide area network services segment contributed the major share of 37.1% in the Asia Pacific market with an increased demand for enhanced mobile services in network-as-a-service.

A look at the Key Market Players

The key players in the global Network-as-a-Service (NaaS) market are Hewlett Packard Enterprise Co., Aryaka Networks, Inc., Extreme Networks, Inc., Juniper Networks, Inc., NEC Corporation, SYNNEX Corporation, AT&T Inc., Cisco Systems Inc. IBM Corporation, and Oracle Corporation among others.

Segmentation Overview

The Global Network-as-a-Service (NaaS) Market is segmented based on component, type, service model, enterprise size, end user industry and region. These segments are further sub-divided to get a holist picture of the market.

Following are the different segments of the Global Network-as-a-Service (NaaS) Market: –

Component Segment of the Global Network-as-a-Service (NaaS) Market is Sub-Segmented into:

Infrastructure services

Technology services

Type Segment of the Global Network-as-a-Service (NaaS) Market is Sub-Segmented into:

Wide Area Network Services

Local Area Network Services

Wireless as a Service (WaaS)

Enhanced Mobile Services

Voice as a Service (VaaS)

Secutity as a Service

Service Model Segment of the Global Network-as-a-Service (NaaS) Market is Sub-Segmented into:

Bandwidth on demand

Cloud-based services

Integrated Network Security as a Service

Virtual Private Network

Wide-area network

Enterprise Size Segment of the Global Network-as-a-Service (NaaS) Market is Sub-Segmented into:

Small & Medium Enterprise

Large Enterprises

End user Industry Segment of the Global Network-as-a-Service (NaaS) Market is Sub-Segmented into:

Banking, Financial Services, and Insurance (BFSI)

Government & Public Sector

Healthcare

IT & Telecommunication

Manufacturing

Retail & E-commerce

Others

By Region Segment of the Global Network-as-a-Service (NaaS) Market is Sub-Segmented into:

North America

The U.S.

Canada

Mexico

Europe

The UK

Germany

France

Italy

Spain

Poland

Russia

Rest of Europe

Asia Pacific

China

India

Japan

Australia & New Zealand

ASEAN

Rest of Asia Pacific

Middle East & Africa (MEA)

UAE

Saudi Arabia

South Africa

Rest of MEA

South America

Argentina

Brazil

Rest of South America

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About Astute Analytica:

Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.

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