New York, May 08, 2023 (GLOBE NEWSWIRE) -- The network as a service market size is projected to surpass around USD 115.5 billion by 2032, and it is poised to reach a CAGR of 26.7% from 2023 to 2032. The Global Network as a Service (NaaS) Market refers to the provision of networking resources & services to businesses and organizations on a subscription basis, typically through a cloud-based platform. NaaS providers typically offer flexible, scalable results as well as price-effective network solutions that can be customized to meet the specific needs of individual businesses.
To get additional highlights on major revenue-generating segments, Request a Network as a Service Market sample report at https://market.us/report/network-as-a-service-market/request-sample
Key Takeaway:
- By type, the WAN-as-a-service segment generated the largest revenue share of 66% in 2022.
- By enterprise size, the large enterprise segment has dominated the market, and it accounted for the most prominent global revenue of 55% in 2022.
- By application, the cloud and SaaS connectivity segment generated the largest revenue share of 24% in 2022.
- By industry vertical, the IT and telecom segment was dominant in the market, with the largest market revenue share of 33.1% in 2022.
- In 2022, North America dominated the market with the highest revenue share of 42%.
- The Asia Pacific region is expected to grow at a significant CAGR from 2023 to 2032.
Factors Affecting the Growth of the Network as a Service Market
There are several factors that can affect the growth of the Network as a Service Market. Some of these factors include:
- Increasing use of mobile devices and IoT technology: With the increasing use of mobile devices and Internet of Things (IoT) technology, there is a growing need for network solutions that can support these devices and provide seamless connectivity.
- Increasing globalization and need for network connectivity across different regions: With the increasing globalization of business, there is a growing need for network connectivity across different regions. NaaS providers can offer businesses a global network infrastructure that can support their operations in different regions around the world.
- Growing focus on digital transformation and the need for agile network infrastructure: Many businesses are undergoing digital transformation and are looking for network solutions that can support their digital initiatives. NaaS providers can offer businesses an agile network infrastructure that can help them adapt to changing business requirements.
- Need for improved network performance and reliability: With the increasing reliance on network infrastructure for business operations, there is a growing need for improved network performance and reliability. NaaS providers can offer businesses network solutions that can help improve performance and ensure reliable connectivity.
Network automation is becoming increasingly important in NaaS systems since it allows operators to provide more efficient and dependable network services. Machine learning and artificial intelligence are being used by NaaS providers to automate network administration chores. Network analytics is the practice of analyzing network performance and defining opportunities for improvement using data analytics tools & methodologies.
To understand how our report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/network-as-a-service-market/#inquiry
Market Growth
Some reasons are driving this expansion of the market, including increased acceptance of cloud-based services, the advent of virtualization technologies as well as increased demand for network automation. Apart from these factors driving the growth of the NaaS market include the rising demand for price effective & adaptable network results and expanding uses of mobile devices & IoT technologies.
Regional Analysis
North America will dominate the worldwide network as a service market. The North American market for NaaS solutions is the largest, owing to the widespread use of cloud computing and digital transformation projects. The region boasts a thriving IT infrastructure and a plethora of NaaS providers.
Competitive Landscape
In recent years, the NaaS market is anticipated to expand as a solution to rising cloud computing use, digital transformation, and developing technologies. As the industry develops, with startups joining the market and current firms increasing their offers, the market share of important players is expected to change. For instance, one of the market's biggest participants and providers of a wide range of networking solutions is Cisco Systems, Inc.
Have Queries? Speak to an expert or Click Here To Download/Request a Sample
Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | US$ 11.5 Billion |
| Market Size (2032) | US$ 115.5 Billion |
| CAGR (from 2023 to 2032) | 26.7% |
| North America Revenue Share | 42% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
With the growing popularity of cloud computing, an increasing number of businesses are opting to outsource their IT infrastructure and services to third-party suppliers. For organizations who are wishing to shift their networking infrastructure to the cloud, NaaS presents a cost-effective and scalable solution. The advent of remote work has increased the requirement for safe and dependable connectivity among individuals operating from multiple places. NaaS delivers a scalable and adaptable solution that allows organizations to provide safe access to their network resources from anywhere in the globe.
Market Restraints
While NaaS providers provide a variety of security services, many organizations may be apprehensive to entrust their network infrastructure and sensitive data to a third-party supplier. Data privacy and security concerns may limit the expansion of the NaaS business. The majority of NaaS services are meant to be standardized and scalable, which may not fit the specialized demands of some organizations. This may hinder the use of NaaS in sectors that demand customized networking solutions.
Market Opportunities
SMEs frequently lack the means to invest in their networking infrastructure and may find NaaS solutions to be a cost-effective and scalable option. This category is expected to develop dramatically as more NaaS providers provide customized services to SMEs. The advent of 5G networks is projected to stimulate demand for high-speed, low-latency networking services. NaaS providers that can deliver 5G connection and related services are expected to enjoy substantial expansion in the coming years.
Grow your profit margin with Market.us – Purchase This Premium Report at https://market.us/purchase-report/?report_id=100978
Report Segmentation of the Network as a Service Market
Type Insight
The market is divided into two categories: WAN-as-a-service and LAN-as-a-service. Among them, the WAN-as-a-service category is likely to be the most profitable in the worldwide network as a service, with the biggest revenue share of 66% and a projected CAGR of 33.6% over the forecast period. Customers have access to a wide area network (WAN) that covers various locations or regions because of the kind of NaaS service. Large organizations frequently employ WAN-as-a-service solutions to connect their offices or data centers in multiple geographical areas.
Enterprise Size Insight
The market is segmented into major enterprises and SMEs based on enterprise size. With a market share of 55% and a CAGR of 31.3% during the projected period, the large enterprise sector dominates the enterprise size category in the network as a service. Businesses in the high Enterprise category have a high number of workers and a large IT infrastructure, generally with several sites and complicated networking requirements. Large organizations frequently require sophisticated NaaS solutions, such as WAN-as-a-service, to connect their disparate sites and ensure secure and dependable network access.
Application Insight
The market is segmented into multiple applications, including WAN optimization, bandwidth on consumer demand, cloud, and SaaS connection, network access control, virtual private network, secure web gateway, UCaaS/video conferencing, and others. The cloud and SaaS connectivity category leads the market with a 24% revenue share and is predicted to increase at a CAGR of 33.6% during the forecast period. Because of cloud and SaaS connectivity, the application uses NaaS solutions to enable safe and dependable communication between enterprises and cloud-based services like Software as a Service app.
Industry Vertical Insight
The market is segmented into major enterprises and SMEs based on enterprise size. With a market share of 55% and a CAGR of 31.3%, the big enterprise sector dominates the enterprise size category in the network as a service. Businesses in the high Enterprise category have a high number of workers and a large IT infrastructure, generally with several sites and complicated networking requirements. Large organizations frequently require sophisticated NaaS solutions, such as WAN-as-a-service, to connect their disparate sites and ensure secure and dependable network access.
For more insights on the historical and Forecast market data from 2016 to 2032 – download a sample report at https://market.us/report/network-as-a-service-market/request-sample
Market Segmentation
By Type
- WAN-as-a-service
- LAN-as-a-service
By Enterprise Size
- Large Enterprise
- SMEs
By Application
- WAN Optimization
- Bandwidth on Demand
- Cloud and SaaS Connectivity
- Network Access Control
- Virtual Private Network
- Secure Web Gateway
- UCaaS/Video Conferencing
- Other Applications
By Industry Vertical
- BFSI
- Healthcare
- Manufacturing
- Retail and E-commerce
- Government and Public Sector
- IT and Telecom
- Other Industry Verticals
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Market Players
- Hewlett Packard Enterprise Co.
- Amdocs
- Megaport
- Akamai Technologies
- Cisco Systems Inc.
- Cloudflare Inc.
- AT&T Inc.
- Verizon Communications Inc.
- DXC Technology Company
- Synnex Corporation
- NEC Corporation
- IBM Corporation
- Palo Alto
- Other Key Players
Recent Development of the Network as a Service Market
- In January 2022, Cisco Systems announced the acquisition of Syntropy Technologies, a provider of AI-powered content moderation solutions. The acquisition is expected to help Cisco enhance its security and privacy capabilities for its NaaS offerings.
- In November 2021, IBM Corporation announced the launch of IBM Cloud for Telecommunications, a new platform that offers NaaS solutions specifically designed for the telecommunications industry.
Browse More Related Reports:
- Energy as service Market value was USD 62,357 million in 2021. This market is expected to grow at a CAGR of 8.5% between 2023-2032.
- Device-as-a-service market was worth USD 42,273.40 Million in 2021. It is anticipated to grow at a compound annual rate (CAGR of 37.2%) between 2023-2032.
- Analytics as a services Market was valued at USD 7,893.10 Million in 2021. It is projected to grow at a compound annual rate (CAGR of 25.45%) between 2023 and 2032.
- Network Probe Market size was estimated at USD 453.6 Million. The market growth rate is expected at 11.1% during the forecast.
- Video Conferencing Systems Market is expected to grow at a CAGR of roughly 8.1% over the next ten years and will reach USD 21 Bn in 2032, from USD 11.1 Bn in 2022.
- Managed services market accounted for USD 278.9 Bn. Between 2023 and 2032, this market is estimated to register the highest CAGR of 11.9%
About Us:
Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.
Follow Us On LinkedIn Facebook Twitter
Our Blog:
