New York, US, June 08, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Network as a Service Market Analysis by Type (LAN, WAN), by Service (WAN Connection, Data Center, BOD), by Component (Infrastructure, Technology Service), By End-User (IT & Telecommunication, BFSI, Healthcare) - Forecast 2030” valuation is poised to reach USD 42.6 Billion by 2030, registering a 24.4% CAGR throughout the forecast period (2021–2030).
Network as a Service Market Overview
The network as a service market is expected to continue to demonstrate rapid revenue growth. The growing cloud technology adoption, alongside the rising demand for data storage solutions and big data analytics, boosts the market size. With the rapid growth in IoT technologies and on-demand network providers, the market is estimated to perceive vast revenue growth in the next few years.
Network as a Service Market Report Scope:
| Report Metric | Details |
| Market Size | USD 42.6 Billion |
| CAGR | 24.4% |
| Base Year | 2020 |
| Forecast Period | 2021-2030 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Component, End-User and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Brocade Communications Systems Inc. (US), Alcatel Lucent (US), Ciena Corporation (US), IBM Corp. (US), Cisco Systems (US), Juniper Networks (US), VMware (US), NEC Corp. (Japan), Aryaka Networks Inc. (US), and AT&T (US) |
| Key Market Opportunities | Growing Needs for Simplified Business Networks Drive NaaS Market Demand |
| Key Market Drivers | The increasing dependence on Network as a Service market support of several industries around the globe has doubled |
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Network as a service (NaaS) is a business model for virtual networking to deliver network services virtually through the ‘pay as you’ subscription model. Additionally, the adoption of operating expenditure (OPEX) saving and mobility boosts the NaaS market growth, driving the software-defined market. The rising adoption of cloud-based networking technologies and demand for cost-effective networking solutions are key driving forces.
5G rollouts and distribution of the 5G spectrum across the world, alongside the growing commercialization of 5G services, create significant opportunities for the NaaS providers. Also, the rising need for solutions and services that can allow telecom companies to connect to the public Internet and take advantage of NaaS benefits via a cross-connect influences the market landscape.
Looking at the growing demand for NaaS, providers are increasingly adding new locations and peering services onto their NaaS platforms. With expanded locations and peering services, telecoms can add new routes and services to their networks. These players try to give their customers access to different regions and benefit from their expertise and footprints, enabling them to operate as a single end-to-end network.
Industry players also collaborate with wholesale businesses and enterprises looking to expand their reach further, leveraging the unparalleled strength of technology providers and driving transformative changes to improve the way they connect and work. They also provide Tunnelling over Internet (Tol) services that enable any network to connect to their platforms.
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Network as a Service Market Segments
The report is segmented into types, components, deployments, end-users, and regions. The type segment is sub-segmented into local area network (LAN) and wide area network (WAN). The component segment is sub-segmented into infrastructure and technology services. The sub-segment service is bifurcated as network virtual function (NVF), WAN connection, data center, bandwidth on demand (BOD), and others.
The deployment segment is sub-segmented into on-cloud and on-premises. The end-user segment is sub-segmented into IT & telecommunication, BFSI, manufacturing, healthcare, retail, transportation, and others. By region, this market can be divided into the Middle East & Africa, Asia Pacific, Americas, Europe, and rest-of-the-world.
Network as a Service Market Regional Analysis
North America dominates the global network as a service market. The largest market share attributes to the presence of several notable players and the early adoption of cloud-based deployment services in the region, driving the NaaS adoption to re-structure business functions & strategies. Besides, the higher adoption of NaaS across end-user industry verticals drives the growth of the market.
Moreover, technological advances and vast numbers of networks due to the digital revolution across the industries influence the network as a service market growth. The US and Canada, with their increasing NaaS applications, hold considerable shares in the regional market. The North American NaaS market is projected to retain its dominance throughout the estimated period.
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Industry Trends
The advanced approach of releasing the data from a control plane & coherent improvisation substantiates the market size. The spurring rise in the IT & telecommunication industry fosters market growth due to the expansion of various telecom operator networks. Furthermore, the rising inclination towards cloud technology by various SMEs and IoT advances offer significant growth opportunities.
On the other hand, high installation costs required for NaaS implementations slow down market growth. The lack of proper infrastructure and high installation costs required to implement NaaS are some of the major factors impeding the market growth. Nevertheless, opportunities in value-added resellers’ products would support the growth of this market throughout the projected period.
Network as a Service Market Competitive Analysis
Dominant Key Players on Network as a Service Market Covered are:
- Brocade Communications Systems Inc. (US)
- Alcatel Lucent (US)
- Ciena Corporation (US)
- IBM Corp. (US)
- Cisco Systems (US)
- Juniper Networks (US)
- VMware (US)
- NEC Corp. (Japan)
- Aryaka Networks Inc. (US)
- AT&T (US)
The well-established NaaS market appears fragmented due to the presence of several key companies. Service providers incorporate strategic initiatives such as collaboration, mergers & acquisitions, expansion, and product launches to gain a competitive advantage. Naas providers focus on innovations and the development of new solutions, fueling the already intensified market competition.
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For instance, on May 03, 2022, Megaport Limited, a leading global Network as a Service provider, announced signing a distribution agreement with Bechtle (Germany), a leading IT system house and IT e-commerce provider across Europe. The agreement enables Megaport to make available its private Software Defined Network (SDN) platform through Bechtle to companies looking to advance their networks and accelerate digital transformation.
In another instance, on April 27, 2022, Bharti Airtel (India), a leading telecom company, announced the acquisition of a strategic minority stake of 7% in Cnergee Technologies (India), a provider of cloud-based networking solutions as a part of its the Airtel Startup Accelerator Program. The stake acquisition will enable Bharti Airtel to sharpen its NaaS proposition for Small and Medium Businesses (SMBs).
Cnergee specializes in integrated networking solutions over the cloud for all large and small businesses. It has developed a wide range of 5G-ready software tools for the network as a Service (NaaS) deployable at scale to enable central remote monitoring, zero-touch service provisioning, and management of connected devices with several real-time analytics. Airtel’s Startup Accelerator Program invests in start-ups that are developing new-age solutions for enterprises.
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