The “Network-as-a-Service (NaaS)” 2022-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period.
The global Network-as-a-Service (NaaS) market held a market value of USD 11,422.0 Million in 2020 and is forecasted to reach USD 118,709.3 Million by the year 2027. The market is anticipated to register a CAGR of 40.7% over the projected period.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Network-as-a-Service or NaaS is a cloud service model. In this model, customers rent networking services from cloud providers. NaaS enabled users to operate their networks without maintaining their networking infrastructure. The increasing adoption of cloud services among enterprises as well as augmentation in a software-defined network (SDN) are expected to be the driving factors for market growth. Furthermore, the growing demand for NFV and SDN-based cloud-native solutions to replace the traditional networking model provides lucrative opportunities for market growth. However, privacy and data security concerns are expected to hinder market growth. Also, the NaaS vendor’s infrastructure is sometimes incompatible with legacy systems, such as the on-premise-based applications and older hardware, among others.
Growth Influencers:
Increasing adoption of cloud services among enterprises
The adoption of cloud-based services is rapidly increasing amongst small & medium as well as large enterprises. This is because these services are more cost-effective as compared to maintaining a costly IT resource as well as an on-premises data center for managing the organizations’ complete network. Such needs are increasing the adoption of the virtual resource-sharing environment provided by the NaaS components, which can convert the physical networking elements into virtual resources, which can be shared and made use of the enterprises for data center connectivity requirements. This boosts the market growth.
Augmentation in a software-defined network (SDN)
Software-defined networking assists in managing the network services using lower-level functionality abstraction. It is a major development in the network architecture that has paved way for unified communications and collaboration (UC&C) applications. The augmentation of SDN has transformed the management system and network infrastructure. It has simplified network management by replacing the hardware with software solutions. It also separates the control and data plane, hence making the networks programmable as well as software-driven. All these factors help in improving the NaaS model, hence contributing to the market growth.
Segments Overview:
The global Network-as-a-Service (NaaS) market is segmented the product.
By Component,
• Infrastructure Services
• Technology Services
The technology services segment held the largest share owing to its high demand in various industries. The infrastructure services segment is also expected to witness a significant growth rate during the forecast period.
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By Type,
• Wide Area Network Services
• Local Area Network Services
• Wireless as a Service (WaaS)
• Enhanced Mobile Services
• Voice as a Service (VaaS)
• Security as a Service (SaaS)
The wide area network services segment is anticipated to hold the largest market share of 35% owing to its widespread adoption in various industries. Also, it provides a communication network via many resources, such as computers, mobiles, data centers, and remote offices. The enhanced mobile services segment is anticipated to grow at the fastest CAGR.
By Service Model,
• Bandwidth on demand
• Cloud-based services
• Integrated Network Security as a Service
• Virtual Private Network
• Wide-area network
The wide area network service model segment held the largest share of the market. This service model can be established to enable users to access public or private gateways based on the customer’s requirements. Cloud-based services are estimated to grow at the fastest rate of 43.7% during the projected period.
By Enterprise Size,
• Small & Medium Enterprise
• Large Enterprises
The large enterprises’ segment held the largest market share in 2020, owing to the high adoption of NaaS services in these enterprises. The small & medium enterprises segment is expected to grow at the fastest rate owing to the rising number of these enterprises globally.
By End-User Industry,
• Banking, Financial Services, and Insurance (BFSI)
• Government & Public Sector
• Healthcare
• IT & Telecommunication
• Manufacturing
• Retail & E-commerce
• Others
The IT & telecommunication segment is expected to hold the largest market share as well as is estimated to grow at the fastest rate owing to the increasing penetration of cloud and networking technologies that can offer customers on-demand network services. The healthcare segment is expected to hold the second-largest market share.
Regional Overview
Based on region, the global Network-as-a-Service (NaaS) market is divided into Europe, North America, Asia Pacific, Middle East, Africa, and South America.
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The North American region held the largest market share of around 40% in the global market owing to the growing penetration of advanced IT infrastructure, cloud computing, and high concentration of the network virtualization solution vendors in the region, especially in the U.S.
The European market is expected to hold the second-largest market share owing to the rising initiatives by various governments to push towards automation and digitalization of businesses. The Asia Pacific region is anticipated to grow at a significant growth rate owing to the presence of technologically advanced countries, such as Japan, South Korea, and China.
Competitive Landscape
Key players operating in the global Network-as-a-Service (NaaS) market include Aryaka Networks, AT&T, Ciena Corporation, Cisco, Extreme Networks, Global Cloud Xchange, IBM Corp., Juniper Networks, NEC Corporation, Oracle Corp., Silver Peak Systems, SYNNEX, Telstra, Verizon, VMware, and other such prominent players.
The approximate market share of the top 5 players is near about 61%. These market players are involved in collaborations, mergers & acquisitions, and new product launches to strengthen their market presence. For instance, in July 2021, Aryaka Networks partnered with Vodafone Fiji for offering its business in Fiji hassle-free access to fast as well as secure connectivity. It also offers simplicity as well as flexibility in today’s fast-growing business environment.
The global Network-as-a-Service (NaaS) market report provides insights on the below pointers:
• Market Penetration: Provides comprehensive information on the market offered by the prominent players
• Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
• Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
• Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Network-as-a-Service (NaaS) market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
• Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global Network-as-a-Service (NaaS) market report answers questions such as:
• What is the market size and forecast of the Global Network-as-a-Service (NaaS) Market?
• What are the inhibiting factors and impact of COVID-19 on the Global Network-as-a-Service (NaaS) Market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the Global Network-as-a-Service (NaaS) Market?
• What is the competitive strategic window for opportunities in the Global Network-as-a-Service (NaaS) Market?
• What are the technology trends and regulatory frameworks in the Global Network-as-a-Service (NaaS) Market?
• What is the market share of the leading players in the Global Network-as-a-Service (NaaS) Market?
• What modes and strategic moves are considered favorable for entering the Global Network-as-a-Service (NaaS) Market?
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