New York, United States, Aug. 09, 2022 (GLOBE NEWSWIRE) -- The growing digital transformation enabled by data and networking technologies such as IoT, blockchain, cognitive, and advanced analytics are hastening the adoption of connectivity advancements across industries. Network-as-a-Service (NaaS) provides businesses with increased flexibility and even performance benefits in their network infrastructure. Companies can be more cost-conscious with on-demand purchasing, paying just for the required networking services. Network-as-a-Service (NaaS) can also assist businesses that desire more flexibility in provisioning without rebuilding networks or renegotiating contracts from scratch. The enterprise proclivity toward digitalization is driving even more need for robust network services. Many businesses are trying to improve their network capabilities, which is where NaaS is gaining ground.
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Increased Adoption of Cloud Services among Enterprises Propel the Global Network-As-A-Service Market
The need for cloud-based solutions is increasing due to the increasing use of technology and customer preference for the cloud, as this technology allows users to access data from remote locations. The growing awareness among businesses of the importance of saving money and resources by shifting data to the cloud rather than constructing and maintaining on-premise infrastructure is driving the demand for cloud-based solutions among corporations. Because of these advantages, giant corporations and small and medium-sized businesses increasingly embrace cloud-based solutions. Over the next few years, cloud computing and virtualization will reduce the need for hardware by sharing the expense of software setup.
According to the CISCO Global Cloud Index, cloud data centers are expected to process 94% of all workloads and computing instances by 2021, while traditional data centers will process only 6%. This demonstrates the global potential for cloud-based contact center deployment in the future. Critical industries, such as banking, are projected to use cloud-based service delivery increasingly. This is owing to the IT industry's ongoing desire for efficient infrastructure and solution designers' ability to source application and infrastructure components from many providers to build a hybrid cloud-based solution. Consequently, the NaaS market growth is augmented.
Integration of Innovative Technologies in the Telecom Industry Provides Umpteen Opportunities for the Global Network-As-A-Service Market
The use and integration of network automation and other technologies in the telecommunications business are becoming increasingly common. Furthermore, telecom carriers have been investing in seamless connectivity and future technologies such as 5G. Similarly, South Korea, according to South Korean President Moon Jae-in, plans to invest more than KRW 30 trillion (USD 26.2 billion) over the next four years to promote the rollout of 5G infrastructure in the country.
Furthermore, the country's three leading players, SK Telecom, KT, and LG Uplus, agreed in March 2020 to invest KRW 4 trillion (approximately USD 3.2 billion) in the first half of 2020 to cover the cost of installing 5G infrastructure in subways, railroads, department stores, and universities to improve 5G service coverage in South Korea. As a result, it offers enormous potential and a new channel for industry players to innovate and invest in NaaS solutions.
Report Scope
| Report Metric | Details |
| Market Size | USD 140 Billion by 2030 |
| CAGR | 33.2% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, Industry Vertical, Region |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | AT&T Inc., Verizon Communications Inc., DXC Technology Company, Synnex Corporation, Cisco Systems Inc., NEC Corporation, Hewlett Packard Enterprise Co., IBM Corporation, Oracle Corporation, GTT Communications Inc., VMware Inc.,Telstra Corporation Limited,CenturyLink Inc., Meta Networks Ltd., Masergy Communications, Juniper Networks Inc., Nokia Corporation (Alcatel Lucent), Akamai Technologies, Brocade Communication Systems Inc. |
| Key Market Opportunities | Integration of Innovative Technologies in the Telecom Industry |
| Key Market Drivers | Increased Adoption of Cloud Services Among Enterprises Software-Defined Networking (SDN) Integration with Existing Network Infrastructures |
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Regional Insights
North America dominates the market and is estimated to grow at a CAGR of 31.9% during the forecast period. The demand for NaaS in Canada is expanding primarily due to new product launches, acquisitions, mergers, and collaborations, which are reshaping the market environment in North America as a whole. Malicious cyber activity against information technology (IT) service providers is rising, resulting in a breach of client information. Due to increased network intrusion, the Canadian Centre for Cyber Security has been advising firms. As a result, businesses are becoming increasingly picky regarding network service providers. The market demand is predicted to rise dramatically as automation and linked devices become more prevalent. Furthermore, with many small businesses in Canada, the adoption of NaaS will likely grow significantly in the following years.
Asia-Pacific is the fastest-growing region. China is seeing extensive adoption of 5G and 5G mobile networks, covering various service types such as health, automotive, logistics, energy, and public safety. Network slicing enables the provision of programmable network instances that meet the needs of individual use cases, subscriber kinds, and applications. Network slicing is a critical enabler for network operators looking to expand existing businesses and start new ones. A suitable API could offer slices to third parties such as health, automotive, and public safety to provide Network as a Service (NaaS). India, one of the Asia-Pacific region's fastest-growing economies, is seeing demand for next-generation connectivity solutions. As businesses embrace digitization to improve agility and development, the country is witnessing a surge in collaboration activity in the NaaS landscape.
Europe is the second-largest region and is estimated to reach an expected value of USD 35 billion, growing at a CAGR of 32.2% during the forecast period. Several collaboration initiatives are taking place throughout the country, resulting in the expansion of NaaS platforms and product innovation. PacketFabric, for example, signed a strategic relationship with UK-based Colt Technology Services in February 2021 to directly integrate Colts On Demand service with PacketFabric's Network as a Service (NaaS) platform. This is expected to provide enterprise customers with real-time network connectivity to 100 important data center locations across Europe.
Key Highlights
- The global network-as-a-service market was valued at USD 10.5 billion in 2021. It is expected to reach USD 140 billion by 2030, growing at a CAGR of 33.2% during the period (2022–2030).
- By type, the global network-as-a-service market is segmented into LAN-as-a-Service and WAN-as-a-Service. WAN-as-a-service is the dominant segment and is estimated to grow at a CAGR of 34.4% during the forecast period.
- By application, the global network-as-a-service market is segmented into Cloud-Based Services (vCPE), Bandwidth on Demand (BoD), Integrated Network Security-as-a-Service, Wide Area Network (WAN), and Virtual Private Network (VPN). Wide Area Network (WAN) is the dominant segment and is estimated to grow at a CAGR of 32.4% during the forecast period.
- By industry vertical, the global network-as-a-service market is segmented Into Healthcare, BFSI, Retail & Ecommerce, IT & Telecom, Manufacturing, Transportation & Logistics, and Public Sector. IT & Telecom is the dominant segment and is estimated to grow at a CAGR of 31.8% during the forecast period.
- By region, the global network-as-a-service market is segmented into North America, Asia-Pacific, Europe, and LAMEA. North America holds dominion over other regions.
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Competitive Players
- AT&T Inc.
- Verizon Communications Inc.
- DXC Technology Company
- Synnex Corporation
- Cisco Systems Inc.
- NEC Corporation
- Hewlett Packard Enterprise Co.
- IBM Corporation
- Oracle Corporation
- GTT Communications Inc.
- VMware Inc.
- Telstra Corporation Limited
- CenturyLink Inc.
- Meta Networks Ltd
- Masergy Communications
- Juniper Networks Inc.
- Nokia Corporation (Alcatel Lucent)
- Akamai Technologies
- Brocade Communication Systems Inc.
Global Network-As-A-Service Market: Segmentation
By Type
- LAN-as-a-Service
- WAN-as-a-Service
By Application
- Cloud-based Services (vCPE)
- Bandwidth on Demand (BoD)
- Integrated Network Security-as-a-Service
- Wide Area Network (WAN)
- Virtual Private Network (VPN)
By Industry Vertical
- Healthcare
- BFSI
- Retail & E-Commerce
- IT & Telecom
- Manufacturing
- Transportation & Logistics
- Public Sector
By Regions
- North America
- Europe
- Asia-Pacific
- LAMEA
TABLE OF CONTENT
- Introduction
- Market Definition
- Market Scope
- Research Methodology
- Primary Research
- Research Methodology
- Assumptions & Exclusions
- Secondary Data Sources
- Market Overview
- Report Segmentation & Scope
- Value Chain Analysis: Global Network-As-A-Service Market
- Key Market Trends
- Drivers
- Restraints
- Opportunities
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitution
- Threat of New Entrants
- Competitive Rivalry
- Market Share Analysis
- Type Overview
- Introduction
- Market Size & Forecast
- Marine, Aviation, & Transport (MAT)
- Market Size & Forecast
- Political Risk & Credit Insurance
- Market Size & Forecast
- Introduction
- Distribution Channel Overview
- Introduction
- Market Size & Forecast
- Brokers
- Market Size & Forecast
- Non-Brokers
- Market Size & Forecast
- Introduction
- Regional Overview
- Introduction
- Market Size & Forecast
- America
- North America
- U.S.
- By Type
- By Distribution Channel
- Canada
- By Type
- By Distribution Channel
- Mexico
- By Type
- By Distribution Channel
- Latin America
- By Type
- By Distribution Channel
- Europe
- Market Size & Forecast
- Germany
- By Type
- By Distribution Channel
- France
- By Type
- By Distribution Channel
- U.K.
- By Type
- By Distribution Channel
- Italy
- By Type
- By Distribution Channel
- Spain
- By Type
- By Distribution Channel
- Rest of Europe
- By Type
- By Distribution Channel
- Asia Pacific
- Market Size & Forecast
- Japan
- By Type
- By Distribution Channel
- China
- By Type
- By Distribution Channel
- Australia
- By Type
- By Distribution Channel
- India
- By Type
- By Distribution Channel
- South Korea
- By Type
- By Distribution Channel
- Rest of Asia-Pacific
- By Type
- By Distribution Channel
- Middle East & Africa
- Market Size & Forecast
- Saudi Arabia
- By Type
- By Distribution Channel
- South Africa
- By Type
- By Distribution Channel
- Kuwait
- By Type
- By Distribution Channel
- Rest of Middle East & Africa
- By Type
- By Distribution Channel
- Introduction
- Company Profile
- AXA
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- American International Group Inc
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Allianz
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- AXA
- Conclusion & Recommendation
- Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/network-as-a-service-market/toc
Market News
- In July 2022, A physical, independent, validated server configuration for on-premises deployments, the Amazon Web Services (AWS) Storage Gateway Hardware Appliance, will be made available by TD SYNNEX. The AWS Storage Gateway Hardware Appliance is being integrated globally by TD SYNNEX, which also offers migration and deployment services to transfer customer data from on-premises storage to the cloud.
- In June 2022, Tech Data India, a TD SYNNEX firm, debuted PEER CONNEXIONS, its B2B eCommerce platform. In line with the industry's shift towards eCommerce, this new Platform intends to realize "Transforming the Traditional to Digital."
News Media
Top 10 Cloud Computing Service Providers in the World
World’s Largest Technology Companies
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