New Delhi, June 13, 2022 (GLOBE NEWSWIRE) -- The study undertaken by Astute Analytica forecasts a growth in revenue of the Global Network-as-a-Service Market from US$ 15,326.9 Mn in 2021 to US$ 1,18,709.3 Mn by 2027. The market is registering a CAGR of 40.7% during the forecast period 2022-2027. The Network-as-a-Service (NaaS) is an outsourcing model for the virtual network services across the internet where the dominant service providers offer necessary network hardware for the end users on the subscription basis, which is cost-effective and provides complete network solution.
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Market Dynamics:
The growing impetus of the Global Network-as-a-Service (NaaS) Market is attributed to increasing adoption of cloud services among enterprises and augmentation in software-defined network (SDN). 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. Furthermore, enterprise customers demand from communication service providers (CSPs) are high and rapidly evolving. Network as a Service (NaaS) is an exciting new opportunity for CSPs to offer the crucial enterprise segment. Not only does NaaS revolutionize the network it also delivers a service that improves enterprise customer experience and retention as organizations widely migrate to the cloud consumption model. However, data security and privacy concerns are likely to deter the progression of the global network as a service market, as enterprises hesitate to share critical business data and statistical information with the service providers.
Segmental Analysis:
Component Insights:
Based on component, the network-as-a-service market is segmented into infrastructure services and technology services. The technology services segment dominated the Global Network-as-a-Service (NaaS) Market in 2021 and further registers the highest CAGR during the forecast. With the introduction of new technologies, the market for technology services is expected to be considerably higher than infrastructure services.
Type Insights:
Based on type, the network-as-a-service market is segmented into wide area network services, local area network services, wireless as a service (WaaS), enhanced mobile services, voice as a service (VaaS), and security as a service (SaaS). Among these, the wide area network services dominated the market in 2021. However, the enhanced mobile services segment is projected to grow at the highest CAGR during the forecast period. The growth of the segment is primarily because it provides additional connectivity for sites, remote workers, telecommuters, IoT devices plus additional bandwidth for aggregation. This, in turn, is leading to its increasing adoption across the globe.
Service Model Insights:
In terms of service model type, the network-as-a-service market is segmented into bandwidth on demand, cloud-based services, integrated network security as a service, virtual private network, and wide-area network. Cloud-based services segment is projected to grow at the highest CAGR during the forecast period. To manage connectivity among remote enterprise sites and support Bring Your Own Device (BYOD) trend, the market for cloud-based services in network-as-a-service market is increasing at a rapid pace across the globe. 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.
Enterprise Size Insights:
Based on enterprise size, the market is divided into small & medium enterprise and large enterprise. The large enterprise dominated the market with 55.4% share in 2021. This is because initially the network-as-a-service model is majorly adopted in large enterprises, backed by the high investment capital availability of the large enterprises. However, the small & medium enterprise segment is projected to rise at the highest CAGR during the forecast period due to the rapid increase in number of small & medium enterprises in the emerging economies.
End User Insights:
Based on end use industry, the network-as-a-service market is segmented into banking, financial services, and insurance (BFSI), government & public sector, healthcare, IT & telecommunication, manufacturing, retail & e-commerce, and others. Among these, the IT & telecommunication industry dominated the Global Network-as-a-Service (NaaS) Market in 2021. The IT & Telecommunication industry is further expected to project the highest CAGR during the forecast period 2022-2027. The penetration of cloud and networking technologies, which offers customers with on-demand network services and reduce expenditure on IT device procurement and maintenance is fueling the market growth.
Regional Insights:
North America is the highest shareholder region in the global network-as-a-service market in 2021. In North America, the US majorly contributes to the market growth. The growth 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. Further, the penetration of cloud computing, advanced IT infrastructure, and higher concentration of the key market players is driving the growth of the North America network-as-a-service market.
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| Report Attribute | Details |
| Market Size Value in 2021 | US$ 15,326.9 Million |
| Market Outlook for 2027 | US$ 1,18,709.3 Million |
| Expected CAGR Growth | 40.7% |
| Base Year | 2021 |
| Forecast Period | 2022-2027 |
| Top Market Players | 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 |
| Segments Covered | By Component, By Type, By Service Model, By Enterprise Size, By End-User, By Region |
| Geographies Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Customization Options | Get your customized report as per your preference. Ask for customization |
Competitive Insights:
- Hewlett Packard Enterprise Co. focuses on developing intelligent solutions that allow customers to capture, analyze and act upon data seamlessly from edge to cloud.
- Juniper Networks, Inc. provides internet infrastructure solutions for internet service providers and other telecommunications service providers.
- Telstra Corporation Limited is a full-service telecommunication, information services, and network platform company that competes in all telecommunications markets throughout Australia.
- VMware, Inc. provides software in the areas of hybrid cloud, multi-cloud, modern applications, networking and security, and digital workspaces in the United States and internationally.
- AT&T Inc. is a technology company. The Company operates its business across four segments, namely communication, warner media, Latin America and Xander.
- Cisco Systems Inc. is a computer networking company. It is a global professional services company with leading capabilities in digital, cloud and security.
- IBM Corporation is a US based company and engaged in the information technology and service.
- Oracle Corporation is a US based company and engaged in the information technology and service. The company’s Cloud Infrastructure offers higher performance, security, and cost savings.
Segmentation Overview
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)
- Security as a Service (SaaS)
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
To gain more insights into the market with a detailed table of content and figures, click here: https://www.astuteanalytica.com/industry-report/network-as-a-service-market
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