Network-as-a-Service Market is expected to grow at a faster rate than the historical period 2022-2027 – Muleskinner

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According to Astute Analytica, the Global Network-as-a-Service market was valued at $15,326.9 million in 2021 and is expected to reach $1,18,709.3 million by 2027. The market is expected to register a CAGR of 40.7% during the forecast period 2022-2027. Network as a Service (NaaS) is a business model for providing enterprise-wide network services on a virtual subscription basis. The growing momentum of the global Network-as-a-Service (NaaS) market is attributed to the increasing adoption of enterprise cloud services and the expansion of software-defined networks (SDN).

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

The willingness to implement and accept advanced technologies, strong research and development in the telecom industry, the increase 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 providers are using cloud platforms to reduce labor costs. Cloud delivery solutions allow organizations to focus on their core competencies and strategic goals. With appropriate use of the NaaS offering, companies can improve the performance of their cloud applications. Both large organizations and SMBs are quick to adopt these services to reduce costs associated with purchasing new equipment and training IT staff. Therefore, this will encourage the deployment of NaaS, eliminating the need to maintain their complex network setup.

Adoption of SDN (Software Defined Network) has also increased in the campus and enterprise segment as the demand for efficient and flexible networks is high. SDN solutions coupled with Network Function Virtualization (NFV) and open source technologies are expected to gain traction in the NaaS industry.

Service providers looking to expand their offerings to enterprise customers need to address NaaS, as these customers want to be more responsive to dynamic business needs, find additional ways to reduce costs, and have more control over their network. NaaS provides the solution and enhances the relationship between Communication Service Providers (CSPs) and their customers. CSPs can accelerate their network services transformation and reduce their investments by implementing field-proven technology from advanced software and service providers.

future challenges

In the current cloud computing scenario, most companies are adopting cloud services and enabling access to more remote users and devices compared to before. Therefore, data security and privacy concerns are likely to prevent the further development of the global Network-as-a-Service market. Concrete security measures are the order of the day.

Effects of COVID-19

Covid-19 and the associated work-from-home opportunities for workers have prompted small businesses to consider Network-as-a-Service. Cloud technology helps employees access the system and application from home. People who stay at home have increased their use of the internet. This has greatly increased the demand for high-speed network connections. Additionally, organizations around the world are preparing for a post-pandemic workplace by investing in network technologies that support the changing needs of employees and have a profound impact on the network. It seems that COVID-19 is the problem that 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 40% market share of the global Network-as-a-Service market in 2021. In North America, the United States is a major contributor to the market growth in the region with a 82.6% share by 2021. This is due to the early adoption of advanced technology solutions as well as outstanding initiatives taken by industry players through partnerships with various technology players. Additionally, the proliferation of cloud computing, advanced IT infrastructure and greater concentration of network virtualization solution providers are expected to drive NaaS adoption in the region. Technology services generate the bulk of revenue in the Network-as-a-Service industry in North America, contributing 57.1% to the regional market during the forecast period.

The UK holds the largest share of the European NaaS market

The European Network-as-a-Service market will hold a modest 25.5% share of the global Network-as-a-Service market in 2021. Moreover, the European Network-as-a-Service industry will be major driven by IT and telecom industry.

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

China held the largest share of Network-as-a-Service market in Asia-Pacific in 2021. The Wide Area Network Services segment contributed the largest share of the Asia-Pacific market at 37.1%, with increased demand for enhanced mobile services in Network-as-One Service.

A look at the key market players

The major players operating 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 on the basis of component, type, service model, company size, end-user industry, and region. These segments are further broken down to provide a holistic picture of the market.

The following are the various segments of the global Network-as-a-Service (NaaS) market:-

The component segment of the global Network-as-a-Service (NaaS) market is sub-segmented into:

infrastructure services

technology services

Global Network-as-a-Service (NaaS) Market Type Segment is sub-segmented into:

Wide Area Network Services

Local Network Services

Wireless as a Service (WaaS)

Improved mobile services

Voice as a Service (VaaS)

Security as a Service

The service model segment of the global Network-as-a-Service (NaaS) market is segmented into following sub-segments:

Bandwidth as needed

Cloud-based Services

Integrated network security as a service

Virtual Private Network

wide area network

Company Size Segment of the Global Network-as-a-Service (NaaS) Market is sub-segmented into:

Small medium company

Large companies

Global Network-as-a-Service (NaaS) Market End User Industry Segment is sub-segmented into:

Banking, Financial Services and Insurance (BFSI)

Government & Public Sector

healthcare

IT & Telecom

manufacturing

Retail & Ecommerce

Other

The regional segment of the global Network-as-a-Service (NaaS) market is divided into:

North America

The USA

Canada

Mexico

Europe

The United Kingdom

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 consulting firm that has quickly built a solid reputation for the tangible results we have delivered to our clients. We pride ourselves on creating unparalleled, detailed and incredibly accurate estimates and forecasts for our very demanding clients across multiple industries. We have a long list of satisfied and returning customers from a wide spectrum including Technology, Healthcare, Chemical, Semiconductor, FMCG and many more. These satisfied customers come to us from all over the world.

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