Network as a Service (NaaS) Market has witnessed a growth from USD 103.24 Billion from 2022 to 2030 with a highest 22.4% CAGR
The global Network as a Service (NaaS) market size reached USD 16.65 Billion in 2021 and is expected to register a revenue CAGR of 22.4 % during the forecast period, according to latest analysis by Emergen Research. Network as a Service (NaaS) is a critical component in enterprise network architecture for supporting the adaptation of innovative technologies depending on market demands, as well as for improving network performance, productivity, user experiences, and proactive maintenance. Owing to the increased internet penetration in functional business domains, many enterprises are deploying Network as a Service (Naas) in their business functions. Growing number of customers are turning to cloud alternatives to help them save money on network quality improvement.
Network as a Service (NaaS) reduces costs by introducing new virtualized network infrastructure processes for hardware, software, operations, and maintenance. In addition, technological advancements in Machine Learning (ML) and Artificial Intelligence (AI) based Network as a Service (NaaS) algorithms are accelerating revenue growth of the market. Many market players are introducing Artificial Intelligence (AI) and Machine Learning (ML) algorithms to streamline and distribution of data. These metrics are significant in cost reduction and time. However, concerns regarding data security are a significant barrier to network as a service market growth. The protection of varied personal user data is becoming challenging owing to the rise in cyberattacks and data breaches. According to a leading cybersecurity company, globally WannaCry ransomware attacks affect around 230,000 computers. Revenue and reputation of the company may significantly affect owing to data breaches.
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Major Trends and Drivers in the Global Network as a Service Market
In the upcoming years, two of the key factors supporting the growth of the worldwide network as a service market will be the expanding installation and rapid adoption of cloud technologies designed for data storage as well as the introduction of big data analytics. Additionally, during the course of the forecast period, the rapid development of internet of things (IoT) technologies is projected to increase demand in the global market for network as a service. Additionally, in the near future, it’s probable that the increased performance and flexibility provided by market participants in the worldwide network as a service industry will become a key element boosting demand.
The global Network as a Service (NaaS) market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Network as a Service (NaaS) sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
Emergen Research has segmented the global network as a service market on the basis of type, organization size, application, industry vertical:
- Type Outlook (Revenue, USD Billion; 2019-2030)
- WAN as a service
- LAN as a service
- Organization Size Outlook (Revenue, USD Billion; 2019-2030)
- Large Enterprises
- Small and medium enterprises
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Virtual private network
- Bandwidth on demand
- Multi-branch connectivity
- WAN Optimization
- Secure web gateway
- Others (Integrated network security as a Service)
- Industry Vertical Outlook (Revenue, USD Billion; 2019-2030)
- IT and Telecommunication
- Banking and financial services
- Retail and e-commerce
- Transportation and logistics
This section of the report offers valuable insights into the geographical segmentation of the Network as a Service (NaaS) market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.
The report classifies the global Network as a Service (NaaS) market into various regions, including:
- North America (U.S., Canada)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
The Global Network as a Service (NaaS) Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold. The leading market contenders listed in the report are as follows:
Cisco Systems Inc, Cloudflare, Inc., Hewlett Packard Enterprise Development LP, Verizon Communications Inc., Nokia Corporation, Dell Inc., Tata Communications Limited, Cato Networks Ltd., Amdocs Management Limited, Palo Alto Networks, Inc., Perimeter 81 Ltd., ALE USA Inc., NTT Communication and among others.
Browse the complete Global Network as a Service (NaaS) Market Research Report – Industry Analysis, Size, Share, Growth, Trends @ https://www.emergenresearch.com/industry-report/network-as-a-service-market
Some Key Highlights From the Report:
- WAN as a service segment accounted for the largest market revenue share in 2021. Significant number of enterprises are increasingly using WAN as a service to secure network traffic across cloud-based and on-premise systems. WAN as a service distributes network traffic across numerous WAN connections, allowing for more cost-effective data transmission.
- The large enterprises segment accounted for the largest revenue share in 2021. Many large organizations are using Network as a Service (NaaS) to provide proactive, personalized experiences, which encourages providers and distributors to improve enterprise lifecycle.
- The virtual private network segment accounted for the largest revenue share in 2021. Encrypted connections aid in the secure transmission of sensitive data and virtual private networks are widely used across industry verticals. The use of NaaS Virtual Private Network (VPN) technology is widespread among IT business users.
- Network as a service market in North America accounted for the largest revenue share in 2021. Increasing implementation of the network as a service in information technology and networking architecture in this region is driving market revenue growth in this region. According to The World Bank, in 2020, over 92% of North Americans have access to the internet. Service providers in this region are increasingly looking beyond traditional core offerings of businesses as contend with ongoing price reduction and competition.
- In October 2021, India-based business conglomerate Tata Communications Limited partnered with Cisco Systems, Inc. to empower Cisco Meraki-based Wi-Fi solutions and SD-WAN services into the Tata Communications ecosystem and enable easy, dependable, and secure IT infrastructure to deliver seamless experiences for enterprises. This partnership will expand opportunities for digital transformation with the convergence of LAN and WAN protocols.
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Key questions addressed in the report:
- Who are the leading players dominating the global Network as a Service (NaaS) Market?
- Which factors could potentially hamper the global market growth during the forecast period?
- Which regional market offers the most attractive growth opportunities to the companies operating in this market?
- How is the raw material availability affecting the demand for Network as a Service (NaaS) in this industry vertical?
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