According to IMARC Group’s latest report, titled “Network as a Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.’ the global network as a service market size reached US$ 14.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 77.6 Billion by 2028, exhibiting a growth rate (CAGR) of 32.3% during 2023-2028.
Network-as-a-Service (NaaS) represents a cloud-based technology solution that involves the leasing of networking assistance from service providers. It comprises the hiring of software, management tools, hardware, lifecycle services, and licenses without building, owning, or maintaining the setup infrastructure. NaaS can aid in replacing load balancers, firewall appliances, hardware-centric virtual private networks (VPNs), and multiprotocol label switching (MLPS) connections. The network infrastructure is also virtualized via flexible operating expenses (OpEx). The service is given to the customers in exchange for a subscription and can be scaled as per the requirement of the user. As a result, NaaS finds widespread applications across various sectors, such as retail, information technology (IT), banking, financial services and insurance (BFSI), and healthcare.
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Network as a Service Market
The expanding IT industry across the globe and the escalating demand for this solution for video conferencing, operating VPNs, wide area network (WAR) optimization, and running secure web gateways are among the primary factors driving the network-as-a-service market. Besides this, the elevating requirement for this platform by small, medium, and large-sized organizations for converting physical networking elements to sharable virtual resources is further augmenting the market growth. Moreover, several technological advancements, including the integration of connected devices with the internet of things (IoT), virtual reality (VR), and augmented reality (AR) solutions to offer enhanced technical flexibility and data security to the organizations and improved access to private and public gateways is also catalyzing the global market. Apart from this, the inflating need for this solution, as it delivers enhanced connectivity with smart devices, computing systems, remote offices, and data centers, is acting as another significant growth-inducing factor. Furthermore, the extensive utilization of 5G technologies and the growing popularity of the pay-per-use pricing model are expected to bolster the network-as-a-service market in the coming years.
Network as a Service Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global network as a service market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Akamai Technologies Inc.
- AT&T Inc.
- Broadcom Inc.
- Ciena Corporation
- Cisco Systems Inc.
- GTT Communications Inc.
- Hewlett Packard Enterprise Development LP
- International Business Machines Corporation
- Juniper Networks Inc.
- Nokia Corporation
- Oracle Corporation
- Telstra Corporation Limited
- Verizon Communications Inc.
- VMware Inc.
- Dell Technologies Inc.
Key Market Segmentation:
Breakup by Type:
- LAN-as-a-Service
- WAN-as-a-Service
Breakup by Application:
- Cloud-based Services
- Bandwidth on Demand
- Integrated Network Security-as-a-Service
- Wide Area Network
- Virtual Private Network
Breakup by End Use Industry:
- Healthcare
- BFSI
- Retail and E-Commerce
- IT and Telecom
- Manufacturing
- Transportation and Logistics
- Public Sector
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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