Network as a Service (NaaS) Market To Be Dominated By IT and Telecommunication Industry
Rising demand
for cloud computing as well as subscription business models are the major factors driving
the Global Network as a Service Market during the forecast period.
According to TechSci Research report, "Network as a Service Market- Global Industry
Size, Share, Trends, Opportunity, and Forecast. 2018-2028, the Global Network as a Service Market is expected to register robust growth during the
forecast period, 2024-2028."
The industry is expanding at a tremendous rate owing to
technological innovation and the trend of users toward cloud-managed network
services. Vertical organizations deploy network services to efficiently use
resources, minimize capital expenditures, improve service quality, and increase
uptime. NaaS allows users/customers to rent network services from their cloud
provider. It is a cloud model that provides network services via the internet in
a subscription (pay-per-use) model.
Network services are provided by network service providers, cloud
providers, etc. for networks and network security resources such as VPNs, WANs,
and firewalls. This allows customers to manage and operate their networks
without maintaining network infrastructure, optimizing resource allocation, and
computing resources as a single integrated module. It offers services through a
subscription-based business model that provides enterprise-wide area network (WAN)
services. This includes integrated hardware, software, licenses, and managed
services.
NaaS allows businesses and organizations
to have subscription hardware, managed services and full/true NaaS. It is a
framework that leverages open application programming interfaces (APIs),
network transformation, service lifecycle automation, and model-driven
abstraction. NaaS enables users to streamline new services and automate
order-to-service processes and technology adoption. It also improves the
customer experience by eliminating manual intervention from the service
fulfillment process and provides error-free service activation, reducing time
to issue resolution.
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The Global Network as a Service Market is segmented on the basis of
type, service, and end user. Based on type, the market is further segmented
into WAN-as-a-service, LAN-as-a-service. WAN-as-a-service
is expected to dominate the market during the forecast period. It is a cloud-based Wide Area Network (WAN) model
intended to replace traditional WANs that rely on hardware. Use connection
protocols such as Multiprotocol Label Switching (MPLS) that are difficult to
manage. WANaaS replaces hardware appliances delivered via the cloud. A vertical
can configure his WAN with a simple internet connection and software. WANaaS is
a specialized managed service suitable for large to medium-sized businesses as
it enables rapid deployment, optimizes user productivity and experience, and
reduces costs.
Based on end user, the market is further split into IT
& Telecom, BFSI, healthcare, retail &
e-commerce, others (government, education etc.). IT
& Telecom sector is expected to dominate the
market during the forecast period. This growth is due to increased use cases
and adoption of cloud services and IT infrastructure. Network infrastructure
plays a vital role in the IT and telecom sector as it minimizes the digital
divide by providing fast network services, addressing bandwidth constraints at
an affordable price. Sharing active and passive infrastructure enables
high-speed internet access and allows you to grow your network profitably.
Network-as-a-Service solutions are a key building block for 5G networks, and
the telecom sector is expected to see significant adoption of the NaaS
platform.
On the basis of region, the market is segmented into North America, APAC,
Europe, South America, and MEA. North America is
expected to dominate the market during the forecast period. The main driver is
the presence of key players such as Palo Alto, Amdocs, Megaport, Akamai, and
Cisco Systems Inc. which have driven the growth of the market. Major companies
are investing heavily in data center research and development, and network
infrastructure is contributing to growth. Additionally, the massive adoption of
IoT and cloud-based services is driving the growth of the Network-as-a-Service
market. Businesses and organizations are retrofitting traditional network
infrastructures with advanced IT infrastructures, network virtualization
solutions, and cloud computing services. Cloud providers and communication
service providers are embracing and implementing cloud platforms to cut
complexity.
Key market players in the Global Network as a Service Market
include: -
- Cisco Systems Inc.
- Verizon Communications Inc.
- IBM Corporation
- NEC Corporation
- Oracle Corporation
- AT&T Inc.
- Juniper Networks Inc.
- DXC Technology Company
- VMware Inc.
- Ciena Corporation
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“North America is
expected to dominate during the forecast period as the region is to home to
many companies which are operating worldwide. IT & Telecommunication sector is expected to
dominate the market as network is widely used in this sector. As 5G shall
capture the market all over the world, IT & Telecommunication is expected
to be the major end user for the Network as a Service Market owing to quick
adoption of cloud & 5G services worldwide,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Network as a Service Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028,
Segmented By Type (WAN-as-a-service,
LAN-as-a-service), By Service (Bandwidth on Demand (BoD), Wide Area Network
(WAN), Virtual Private Network (VPN)), By End User (IT & Telecom, BFSI, Healthcare, Retail &
E-Commerce, Others (Government, Education etc.)), By Region,” has evaluated the future growth potential of Global Network as a Service Market
and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Network as a Service Market.
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